Charlotte Rhys UK Limited 07717396 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is wholesale of perfume and cosmetics. Digita Accounts Production Advanced 6.30.9574.0 true true 07717396 2022-03-01 2023-02-28 07717396 2023-02-28 07717396 bus:OrdinaryShareClass1 2023-02-28 07717396 core:RetainedEarningsAccumulatedLosses 2023-02-28 07717396 core:ShareCapital 2023-02-28 07717396 core:CurrentFinancialInstruments 2023-02-28 07717396 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07717396 bus:SmallEntities 2022-03-01 2023-02-28 07717396 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 07717396 bus:FullAccounts 2022-03-01 2023-02-28 07717396 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 07717396 bus:RegisteredOffice 2022-03-01 2023-02-28 07717396 bus:Director2 2022-03-01 2023-02-28 07717396 bus:Director3 2022-03-01 2023-02-28 07717396 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 07717396 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07717396 core:OtherRelatedParties 2022-03-01 2023-02-28 07717396 countries:EnglandWales 2022-03-01 2023-02-28 07717396 2021-03-01 2022-02-28 07717396 2022-02-28 07717396 bus:OrdinaryShareClass1 2022-02-28 07717396 core:RetainedEarningsAccumulatedLosses 2022-02-28 07717396 core:ShareCapital 2022-02-28 07717396 core:CurrentFinancialInstruments 2022-02-28 07717396 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07717396

Charlotte Rhys UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Charlotte Rhys UK Limited

Contents

Company Information

1

Directors' Report

2

Profit and loss account

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

 

Charlotte Rhys UK Limited

Company Information

Directors

S McDermott

J M Spyropoulos

Registered office

79A High Street
Teddington
Middlesex
TW11 8HG

Accountants

Harmer Slater Limited
79a High Street
Teddington
Middlesex
TW11 8HG

 

Charlotte Rhys UK Limited

Directors' Report for the Year Ended 28 February 2023

The directors present their report and the financial statements for the year ended 28 February 2023.

Principal activity

The principal activity of the company is wholesale of perfume and cosmetics.

Directors of the company

The directors who held office during the year were as follows:

S McDermott

J M Spyropoulos

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................
J M Spyropoulos
Director

 

Charlotte Rhys UK Limited

Profit and loss account
for the Year Ended 28 February 2023

Note

2023
£

2022
£

Turnover

 

20,132

28,308

Cost of sales

 

(11,962)

(21,316)

Gross profit

 

8,170

6,992

Administrative expenses

 

(11,911)

(7,331)

Operating loss

 

(3,741)

(339)

Loss before tax

(3,741)

(339)

Loss for the financial year

 

(3,741)

(339)

Retained earnings brought forward

 

(45,091)

(44,795)

Retained earnings carried forward

 

(48,832)

(45,134)

 

Charlotte Rhys UK Limited

(Registration number: 07717396)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stock

4

14,041

19,693

Debtors

5

3,711

1,911

Cash at bank and in hand

 

4,689

2,702

 

22,441

24,306

Payables: Amounts falling due within one year

6

(71,173)

(69,340)

Net liabilities

 

(48,732)

(45,034)

Capital and reservies

 

Called up share capital

7

100

100

Retained earnings

7

(48,832)

(45,134)

Shareholders' deficit

 

(48,732)

(45,034)

For the financial 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.

Directors' responsibilities:

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

The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements of Charlotte Rhys UK Limited were approved and authorised for issue by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................

J M Spyropoulos
Director

 

Charlotte Rhys UK Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023

1

General information

Charlotte Rhys UK Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The financial statements have been prepared on a going concern basis. The company continues to rely on financial support from its South African associate company, Charlotte Rhys Manufacturing (Pty) Limited. Should the going concern basis of accounting cease to be appropriate, adjustments may be necessary to reduce the value of assets to their recoverable amounts accordingly.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with 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 net of value added tax, returns, rebates and discounts. The Company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and held at bank.

 

Charlotte Rhys UK Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Stock

Stocks comprise finished goods.

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Stock

2023
£

2022
£

Other inventories

14,041

19,693

5

Debtors

2023
£

2022
£

Trade receivables

767

402

Other debtors

2,944

1,509

3,711

1,911

 

Charlotte Rhys UK Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade payable

138

388

Other creditors

69,655

67,514

Accruals

1,380

1,438

71,173

69,340

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Summary of transactions with other related parties

During the year the company acquired goods totalling £7,712 (2022 - £9,736) from its associate company, Charlotte Rhys Manufacturing (PTY) Limited. In addition the associate company provided services and finance and at the year end the associate company was owed £69,159 (2022 - £67,246). Charlotte Rhys Manufacturing (PTY) Limited owns 10% of the share capital of Charlotte Rhys UK Limited.