HAIER SMART HOME UK & I LTD

1. HAIER SMART HOME UK & I LTD 2024-03-12 → present
2. HOOVER LIMITED 1991-05-23 → 2024-03-12
3. HOOVER (1990) LIMITED 1990-09-03 → 1991-05-23
4. LINESET LIMITED 1990-07-12 → 1990-09-03

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In preparing these financial statements, Haier Smart Home UK & I Ltd has reviewed each of the company's primary statements and the supporting disclosures, along with its historical financial performance, its forecast trading performance for at least the next 12 months from the date of the approval of these financial statements and its access to working capital facilities. In addition, the directors have reviewed the trading and cashflow performance during the first 8 months of 2025, during which it felt the impacts of another year of market contraction. In carrying out this evaluation the directors have applied a number of sensitivities to stress test the forecast cash flows to consider the implications on the going concern assumption. The directors have engaged with its shareholder to review company strategy and is encouraged that while the UK market and consequently the entity's financial performance continues to be pressured that the company and its directors retain the Group support. This is evidenced by: previous recapitalisations of the entity; and, the Group approved investment in a new leased warehouse to enable the entity to optimise its warehousing and logistics operation. This demonstrates the confidence the Group has in the UK cluster and within Haier Smart Home UK & I Ltd as its chosen distributor for the UK and Irish market. Taking into account the various matters set out in this report and financial statements, Haier Smart Home UK & I Ltd's directors have discussed the forecasts with the Candy Group, it has been agreed that the Group will provide liquidity support for Haier Smart Home UK & I Ltd in the case that further support is needed beyond the current facilities. Accordingly, these financial statements are prepared adopting the going concern basis.”

Group structure

1. HAIER SMART HOME UK & I LTD · parent
   1. Candy Holdings Limited 95.2% · UK · Intermediate holding company
   2. Candy Domestic Appliances Limited 95.2% · UK · Dormant
   3. Kelco Limited 95.2% · UK · Operation of the company's defined benefit pension scheme

Significant events

• “On 12 March 2024, the company resolved to change its name to Haier Smart Home UK&I Ltd (previously Hoover Limited).”
• “On 30 June 2023, a recapitalisation of Haier Smart Home UK & I Ltd was completed with a transaction to convert £38.88m (€45m) of its intercompany loan into equity.”
• “On 14 September 2023 the consolidation of the group's two domestic appliances operations into this entity – so that now Haier Smart Home UK& I Ltd became the distributor of Group's three mainstream brands for this region. This transaction completed on 5 October 2023.”
• “In March 2024, it supported the directors with their investment in a new leased warehouse facility in Rugby to allow the optimisation of the company's operational capability and efficiency in the longer term.”
• “On 30 June 2024, a further recapitalisation of the company balance sheet was completed via a loan waiver totalling £31.8m, to improve the equity position further and to reduce the on-going interest costs of the entity.”
• “Change in financing structure - the Group has demonstrated its continued support by refinancing the debt factoring facility and Haier Smart Home UK & I Ltd then entered the Group cash pooling facility.”
• “Property Disposal - The company exchanged contracts to sell their total freehold interest in the Merthyr Tydfil site on 14 August 2024.”
• “Pension scheme liquidation - The trustees of the Supplementary Scheme commenced the liquidation of the pension scheme in H2 of 2025.”
• “On 2 October 2023, the trade and related assets and liabilities of Haier Appliances UK Co., Ltd. were transferred to the Company at their book value to consolidate all of the domestic appliances importation, distribution and after sales activities for the UK and Ireland markets into one single entity.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +13.3%

  £270,748,000 → £306,815,000

• Cash

  -96.9%

  £25,977,000 → £798,000

• Net assets

  +212.7%

  £7,536,000 → £23,567,000

• Employees

  +3.1%

  641 → 661

• Operating profit

  -727.1%

  -£941,000 → -£7,783,000

• Profit before tax

  -109.6%

  -£6,768,000 → -£14,189,000

• Wages

  +11.4%

  £27,484,000 → £30,614,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers