Heaven Scent 108 Limited 07136119 false 2022-02-01 2022-12-31 2022-12-31 The principal activity of the company is retail sale of flowers. Digita Accounts Production Advanced 6.30.9574.0 true true 07136119 2022-02-01 2022-12-31 07136119 2022-12-31 07136119 bus:OrdinaryShareClass1 2022-12-31 07136119 core:CurrentFinancialInstruments 2022-12-31 07136119 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07136119 core:Non-currentFinancialInstruments 2022-12-31 07136119 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 07136119 core:Goodwill 2022-12-31 07136119 bus:SmallEntities 2022-02-01 2022-12-31 07136119 bus:AuditExemptWithAccountantsReport 2022-02-01 2022-12-31 07136119 bus:FullAccounts 2022-02-01 2022-12-31 07136119 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2022-12-31 07136119 bus:RegisteredOffice 2022-02-01 2022-12-31 07136119 bus:Director1 2022-02-01 2022-12-31 07136119 bus:OrdinaryShareClass1 2022-02-01 2022-12-31 07136119 bus:PrivateLimitedCompanyLtd 2022-02-01 2022-12-31 07136119 core:Goodwill 2022-02-01 2022-12-31 07136119 countries:EnglandWales 2022-02-01 2022-12-31 07136119 2022-01-31 07136119 core:Goodwill 2022-01-31 07136119 2021-02-01 2022-01-31 07136119 2022-01-31 07136119 bus:OrdinaryShareClass1 2022-01-31 07136119 core:CurrentFinancialInstruments 2022-01-31 07136119 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 07136119 core:Non-currentFinancialInstruments 2022-01-31 07136119 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 07136119 core:Goodwill 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07136119

Heaven Scent 108 Limited

Unaudited Filleted Financial Statements

for the Period from 1 February 2022 to 31 December 2022

 

Heaven Scent 108 Limited

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Heaven Scent 108 Limited

Company Information

Director

Mrs Donna Bellamy

Registered office

98 Fulham Palace Road
London
W6 9PL

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Heaven Scent 108 Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Heaven Scent 108 Limited

(Registration number: 07136119)
Balance Sheet as at 31 December 2022

Note

2022
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Current assets

 

Stocks

500

500

Debtors

5

8,486

9,715

 

8,986

10,215

Creditors: Amounts falling due within one year

6

(1,615)

(2,073)

Net current assets

 

7,371

8,142

Total assets less current liabilities

 

7,372

8,143

Creditors: Amounts falling due after more than one year

6

(10,521)

(13,250)

Net liabilities

 

(3,149)

(5,107)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(3,151)

(5,109)

Shareholders' deficit

 

(3,149)

(5,107)

For the financial period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 November 2023
 

 

Heaven Scent 108 Limited

(Registration number: 07136119)
Balance Sheet as at 31 December 2022

.........................................
Mrs Donna Bellamy
Director

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
98 Fulham Palace Road
London
W6 9PL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The business has been affected by Covid 19 and was closed for 4 months. The continuing effects are not expected and the director considers that the business will continue as a going concern.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2022

20,000

20,000

At 31 December 2022

20,000

20,000

Amortisation

At 1 February 2022

19,999

19,999

At 31 December 2022

19,999

19,999

Carrying amount

At 31 December 2022

1

1

At 31 January 2022

1

1

5

Debtors

Current

2022
£

2022
£

Other debtors

8,486

9,715

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2022
£

Due within one year

 

Loans and borrowings

8

107

813

Trade creditors

 

91

-

Taxation and social security

 

157

-

Accruals and deferred income

 

1,260

1,260

 

1,615

2,073

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2022
£

Due after one year

 

Loans and borrowings

8

10,521

13,250

7

Share capital

Allotted, called up and fully paid shares

 

2022

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Loans and borrowings

2022
£

2022
£

Non-current loans and borrowings

Bank borrowings

10,521

13,250

2022
£

2022
£

Current loans and borrowings

Bank overdrafts

107

813

 

Heaven Scent 108 Limited

Notes to the Unaudited Financial Statements for the Period from 1 February 2022 to 31 December 2022

9

Related party transactions

Debtors due within one year include amounts owed from the director of £8,485 (2021 - £9,714.78). The balance is interest free and repayable on demand.