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Company Registration No. 12468976 (England and Wales)
Sol Fragrances Limited Unaudited accounts for the year ended 28 February 2023
Sol Fragrances Limited Unaudited accounts Contents
Page
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Sol Fragrances Limited Company Information for the year ended 28 February 2023
Director
Rishi Pratap Popat
Company Number
12468976 (England and Wales)
Registered Office
17 GAINSBORO GARDENS GREENFORD UB6 0JG ENGLAND
Accountants
Utopians Accountants 49 Highview Pinner Middlesex HA5 3PE
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Sol Fragrances Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
100 
100 
Tangible assets
2,203 
2,339 
2,303 
2,439 
Current assets
Inventories
55,697 
37,735 
Debtors
2,697 
315 
Cash at bank and in hand
70,398 
101,513 
128,792 
139,563 
Creditors: amounts falling due within one year
(12,441)
(1,368)
Net current assets
116,351 
138,195 
Total assets less current liabilities
118,654 
140,634 
Creditors: amounts falling due after more than one year
(135,187)
(135,187)
Net (liabilities)/assets
(16,533)
5,447 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
(26,533)
(4,553)
Shareholders' funds
(16,533)
5,447 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 November 2023 and were signed on its behalf by
Rishi Pratap Popat Director Company Registration No. 12468976
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Sol Fragrances Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Sol Fragrances Limited is a private company, limited by shares, registered in England and Wales, registration number 12468976. The registered office is 17 GAINSBORO GARDENS, GREENFORD, UB6 0JG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% on reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Sol Fragrances Limited Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
100 
At 28 February 2023
100 
Amortisation
At 1 March 2022
- 
At 28 February 2023
- 
Net book value
At 28 February 2023
100 
At 28 February 2022
100 
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 March 2022
2,661 
At 28 February 2023
2,661 
Depreciation
At 1 March 2022
322 
Charge for the year
136 
At 28 February 2023
458 
Net book value
At 28 February 2023
2,203 
At 28 February 2022
2,339 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
315 
Trade debtors
2,697 
- 
2,697 
315 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,586 
- 
Trade creditors
9,855 
1,368 
12,441 
1,368 
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Sol Fragrances Limited Notes to the Accounts for the year ended 28 February 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
135,187 
135,187 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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