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REGISTERED NUMBER: 08316324 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Industrial Fragrances Ltd

Industrial Fragrances Ltd (Registered number: 08316324)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Industrial Fragrances Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Dr S B C Wilkinson
G O R Drewett
Ms R J Naylor





REGISTERED OFFICE: Units 2-3 Twelve Quays
Morpeth Wharf
Birkenhead
Wirral
CH41 1LF





REGISTERED NUMBER: 08316324 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Industrial Fragrances Ltd (Registered number: 08316324)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,841 136,818

CURRENT ASSETS
Stocks 193,149 238,166
Debtors 5 310,445 204,341
Cash at bank and in hand 87,046 27,779
590,640 470,286
CREDITORS
Amounts falling due within one year 6 264,722 61,777
NET CURRENT ASSETS 325,918 408,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,759

545,327

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 403,659 545,227
SHAREHOLDERS' FUNDS 403,759 545,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Dr S B C Wilkinson - Director


Industrial Fragrances Ltd (Registered number: 08316324)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Industrial Fragrances 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.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 25% on reducing balance
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Current 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.

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 6 (2022 - 15 ) .

Industrial Fragrances Ltd (Registered number: 08316324)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 11,289 164,562 48,977
Additions - 13,478 -
Disposals - - -
At 30 June 2023 11,289 178,040 48,977
DEPRECIATION
At 1 July 2022 11,289 83,995 19,478
Charge for year - 31,106 14,597
Eliminated on disposal - - -
At 30 June 2023 11,289 115,101 34,075
NET BOOK VALUE
At 30 June 2023 - 62,939 14,902
At 30 June 2022 - 80,567 29,499

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 32,850 7,125 264,803
Additions - - 13,478
Disposals (32,850 ) - (32,850 )
At 30 June 2023 - 7,125 245,431
DEPRECIATION
At 1 July 2022 6,570 6,653 127,985
Charge for year - 472 46,175
Eliminated on disposal (6,570 ) - (6,570 )
At 30 June 2023 - 7,125 167,590
NET BOOK VALUE
At 30 June 2023 - - 77,841
At 30 June 2022 26,280 472 136,818

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 303,047 166,883
Other debtors 7,398 37,458
310,445 204,341

Industrial Fragrances Ltd (Registered number: 08316324)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 144,636 26,667
Taxation and social security 119,097 34,121
Other creditors 989 989
264,722 61,777

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 Ordinary £1 100 100

8. RELATED PARTY DISCLOSURES

On 30 June 2022 the entire issued ordinary share capital of the company was acquired by Industrial Fragrances (EOT) Ltd as the Trustee of the Industrial Fragrances Employee Ownership Trust. during the year, the company made gifts totalling £400,000 (2022: £NIL) to the Employee Ownership Trust.
Dr S B C Wilkinson and G O R Drewitt are among the directors of that company.