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REGISTERED NUMBER: 14014395 (England and Wales)















Financial Statements for the Period 31 March 2022 to 30 June 2023

for

Aman Essentials Limited

Aman Essentials Limited (Registered number: 14014395)






Contents of the Financial Statements
for the Period 31 March 2022 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Aman Essentials Limited

Company Information
for the Period 31 March 2022 to 30 June 2023







DIRECTOR: Ms V F Paiva





REGISTERED OFFICE: 63 Brook Street
Mayfair London
England





REGISTERED NUMBER: 14014395 (England and Wales)





INDEPENDENT AUDITORS: Deloitte LLP
1 New Street Square
London
EC4A 3HQ

Aman Essentials Limited (Registered number: 14014395)

Balance Sheet
30 June 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 6,751
Investments 5 8,856
15,607

CURRENT ASSETS
Stocks 6 1,749,514
Debtors 7 2,561,585
Cash at bank 51,068
4,362,167
CREDITORS
Amounts falling due within one year 8 6,390,047
NET CURRENT LIABILITIES (2,027,880 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,012,273

)

PROVISIONS FOR LIABILITIES 366,381
NET LIABILITIES (2,378,654 )

CAPITAL AND RESERVES
Called up share capital 9 1
Retained earnings 10 (2,378,655 )
SHAREHOLDERS' FUNDS (2,378,654 )

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 director and authorised for issue on 1 August 2024 and were signed by:



Ms V F Paiva - Director


Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements
for the Period 31 March 2022 to 30 June 2023

1. STATUTORY INFORMATION

Aman Essentials Limited 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.

The functional and presentation currency of the financial statements is Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £1.

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 accounting polices set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

Reporting Period
These financial statements prepared for an extended period of fifteen months to 30 June 2023 are the first financial statements of the company.

Turnover
Revenue represents the sale of merchandise to hotels of the Aman group. Revenue from the sale of goods is stated net of estimated customer returns, rebates, and other similar allowances. Specifically, revenue from the sale of goods is recognised when the goods are delivered, and the legal title has passed.

Revenue relates solely to continuing operations. There are no recognised gains or losses in the period and, accordingly, a statement of other comprehensive income is not presented.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is calculated using the FIFO (first-in, first-out) method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

Going concern basis of accounting
Notwithstanding net current liabilities of £2,027,880 and a loss for the year of £2,378,655, the financial statements have been prepared on a going concern basis which the director considers to be appropriate.

The director has prepared flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably plausible downsides, the company will have sufficient funds if it receives funding from Silverlink Resorts Limited to meet its liabilities as they fall due during that period. Silverlink Resorts Limited is an associated company at the balance sheet date..

Silverlink Resorts Limited has indicated its intention to continue to make available such funds as are needed by the company, for the period covered by the forecasts. However, whilst the director has a high expectation that such support will be forthcoming, they have been unable to fully satisfy themselves as to Silverlink Resorts Limited's ability and commitment to providing this support. Therefore, this represents a material uncertainty related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern such that it may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding this uncertainty, the director has concluded that the going concern basis of preparation remains appropriate

Preparation of consolidated financial statements
The financial statements contain information about Aman Essentials Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the accounts.

There are no critical judgements surrounding the application of the Company's accounting policies.

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on the straight-line basis at the following rates in order to write off each asset over its estimated useful life.

Office equipment - 25%
Computer software - 25%
Computer equipment - 33.33%

Investments in subsidiaries
Investments in subsidiaries' shares which have been classified as fixed asset investments as the company intends to hold them on a continuing basis, are initially measured at cost less any accumulated impairment. They are subsequently remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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

Stock provision on slow moving and obsolete stock is designed to ensure that stock is valued accurately and is assessed with reference to selling price, historical sales pattern and post year-end trading performance.

Debtors Provision
At each reporting date, management of the company assess the recoverability of debtors. Recoverability of a debtor is deemed to be doubtful when one or more events that have a detrimental impact on the estimated cash flow of the debtor has occurred.

Evidence that there is doubt over the recoverability of a debtor includes, but is not limited to, the following observable data:
- significant financial difficulty of the debtor;
- a breach of contract such as a default or being more than 90 days past due;
- it is probable that the debtor will enter bankruptcy or other financial reorganisation; or
- the disappearance of an active market for a security because of financial difficulties.

Provision for debtors measured at amortised costs are deducted from the gross carrying amount.

The gross carrying amount of a debtor is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when management determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off.

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
All of the financial instruments of the company are basic and the company has elected to apply the provisions of Section 11 "Basic Financial Instruments of FRS 10" to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instruments.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 period was 8 .

4. TANGIBLE FIXED ASSETS
Office Software Computer
Equipment Equipment equipment Totals
£    £    £    £   
COST
Additions 2,773 3,483 1,612 7,868
At 30 June 2023 2,773 3,483 1,612 7,868
DEPRECIATION
Charge for period 89 491 537 1,117
At 30 June 2023 89 491 537 1,117
NET BOOK VALUE
At 30 June 2023 2,684 2,992 1,075 6,751

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
Additions 8,856
At 30 June 2023 8,856
NET BOOK VALUE
At 30 June 2023 8,856

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Aman Products UK Limited
Registered office: United Kingdom
Nature of business: Sale of premium spa products
%
Class of shares: holding
Ordinary 100.00

Aman Essentials S.r.l.
Registered office: Italy
Nature of business: Sale of premium clothing & leather goods
%
Class of shares: holding
Ordinary 100.00

Aman Essentials LLC
Registered office: United States of America
Nature of business: Dormant company
%
Class of shares: holding
Ordinary shares 100.00

Fixed asset investments relate to the company's holdings in its subsidiaries. Subsidiaries are entities in which Aman Essentials Limited holds more than half of the voting rights or has the ability to direct the financial and operating principles followed.

6. STOCKS

At 30 June 2023, the total value of stock is £1,749,514. Stock represents goods held for resale.

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 1,010,031
Amounts owed by group undertakings 1,139,149
Other debtors 412,405
2,561,585

Included in debtors above are balances from group undertakings and related parties, which are receivable on demand and not interest bearing.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,599,869
Amounts owed to group undertakings 4,611,743
Taxation and social security 22,091
Other creditors 156,344
6,390,047

Included in creditors above are balances owed to group undertakings and related parties which are payable on demand and non interest bearing.

9. CALLED UP SHARE CAPITAL

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

The holders of ordinary shares are entitled to receive dividends as declared form time to time and are entitled to one vote per share at meetings of the Company

10. RESERVES
Retained
earnings
£   

Deficit for the period (2,378,655 )
At 30 June 2023 (2,378,655 )

Aman Essentials Limited (Registered number: 14014395)

Notes to the Financial Statements - continued
for the Period 31 March 2022 to 30 June 2023

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The report of the Auditor was qualified.

The auditors were not appointed as auditor of the company until after 31 March 2023 and thus did not observe the counting of physical stocks at the end of the year. The auditors were unable to satisfy themselves by alternative means concerning the stock quantities held at 31 March 2023, which were included in the balance sheet at £1,749,514, by using other audit procedures.

Additionally, the company did not maintain complete information with respect to turnover and its related cost of sales for the period to 30 June 2023 and the related trade debtor accounts and trade creditor accounts as at 30 June 2023. They were unable to satisfy themselves by alternative means as to whether transactions relating to turnover of £4,495,406 and cost of sales of £2,858,761 for the 15 months period ending 30 June 2023 were complete or recorded in the correct period, or whether trade debtors of £1,010,031 (Note 7) or trade creditors of £1,599,869 (Note 8) were complete or met the recognition criteria at 30 June 2023. Consequently, the auditors were unable to determine whether any adjustments to these amounts were necessary.


Will Eversden
Senior Statutory Auditor
For and on behalf of Deloitte LLP

12. POST BALANCE SHEET EVENTS

The Directors have monitored events after Balance Sheet date and do not believe there have been any events which impact the values stated in these accounts or require any additional disclosure.

13. ULTIMATE CONTROLLING PARTY

The immediate parent company is Grand AH Investments Limited, incorporated in the British Virgin Islands and the ultimate controlling party is The Grand Trust incorporated in the British Virgin Islands.