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REGISTERED NUMBER: 04772603 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Penny Price Aromatherapy Ltd

Penny Price Aromatherapy Ltd (Registered number: 04772603)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penny Price Aromatherapy Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs P A Stephen
Revd Dr R Stephen
Mrs E L Dunmore





SECRETARY: Revd Dr R Stephen





REGISTERED OFFICE: Unit D3 Radius Court
Maple Drive
Hinckley
Leicestershire
LE10 3BE





REGISTERED NUMBER: 04772603 (England and Wales)





ACCOUNTANTS: Abrahamson Foster Limited
The Atkins Building
Lower Bond Street
Hinckley
Leicestershire
LE10 1QU

Penny Price Aromatherapy Ltd (Registered number: 04772603)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,140 1,201
Tangible assets 5 201,915 250,579
203,055 251,780

CURRENT ASSETS
Stocks 95,845 101,754
Debtors 6 48,006 20,415
Cash at bank and in hand - 41,486
143,851 163,655
CREDITORS
Amounts falling due within one year 7 180,737 146,436
NET CURRENT (LIABILITIES)/ASSETS (36,886 ) 17,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

166,169

268,999

CREDITORS
Amounts falling due after more than one year 8 133,333 109,076
NET ASSETS 32,836 159,923

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 31,836 158,923
32,836 159,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Penny Price Aromatherapy Ltd (Registered number: 04772603)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Mrs E L Dunmore - Director


Penny Price Aromatherapy Ltd (Registered number: 04772603)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Penny Price Aromatherapy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Penny Price Aromatherapy Ltd (Registered number: 04772603)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022 3,935
Additions 370
At 31 March 2023 4,305
AMORTISATION
At 1 April 2022 2,734
Charge for year 431
At 31 March 2023 3,165
NET BOOK VALUE
At 31 March 2023 1,140
At 31 March 2022 1,201

Penny Price Aromatherapy Ltd (Registered number: 04772603)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 428,728
Additions 3,311
Disposals (169 )
At 31 March 2023 431,870
DEPRECIATION
At 1 April 2022 178,149
Charge for year 51,975
Eliminated on disposal (169 )
At 31 March 2023 229,955
NET BOOK VALUE
At 31 March 2023 201,915
At 31 March 2022 250,579

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 48,006 18,379
Other debtors - 2,036
48,006 20,415

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 122,197 39,830
Hire purchase contracts 5,764 8,283
Trade creditors 27,582 28,870
Taxation and social security 20,516 36,111
Other creditors 4,678 33,342
180,737 146,436

Penny Price Aromatherapy Ltd (Registered number: 04772603)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 133,333 93,605
Hire purchase contracts - 15,471
133,333 109,076

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs P A Stephen.