Fragrance Foundation United Kingdom 03639525 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to harness the transformational power of fragrance and to drive growth and expand the love of fragrance through Education, Inspiration and Celebration. Digita Accounts Production Advanced 6.30.9574.0 true true 03639525 2023-01-01 2023-12-31 03639525 2023-12-31 03639525 core:CurrentFinancialInstruments 2023-12-31 03639525 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03639525 core:FurnitureFittingsToolsEquipment 2023-12-31 03639525 bus:SmallEntities 2023-01-01 2023-12-31 03639525 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03639525 bus:FilletedAccounts 2023-01-01 2023-12-31 03639525 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03639525 bus:RegisteredOffice 2023-01-01 2023-12-31 03639525 bus:Chairman 2023-01-01 2023-12-31 03639525 bus:Director17 2023-01-01 2023-12-31 03639525 bus:Director19 2023-01-01 2023-12-31 03639525 bus:Director2 2023-01-01 2023-12-31 03639525 bus:Director21 2023-01-01 2023-12-31 03639525 bus:Director22 2023-01-01 2023-12-31 03639525 bus:Director24 2023-01-01 2023-12-31 03639525 bus:Director4 2023-01-01 2023-12-31 03639525 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 03639525 core:OfficeEquipment 2023-01-01 2023-12-31 03639525 countries:AllCountries 2023-01-01 2023-12-31 03639525 2022-12-31 03639525 core:FurnitureFittingsToolsEquipment 2022-12-31 03639525 2022-01-01 2022-12-31 03639525 2022-12-31 03639525 core:CurrentFinancialInstruments 2022-12-31 03639525 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03639525 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03639525

Fragrance Foundation United Kingdom

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Fragrance Foundation United Kingdom

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Fragrance Foundation United Kingdom

Company Information

Chairman

Mrs Annalise Fard

Directors

Mrs Heather Boardman

Mr Brian John Stanton

Ms Gillian Smith

Mr Amaury Devallois

Mr Christopher Yu

Mrs Emmanuelle Noyer

Ms Kate Hardcastle

Registered office

2 Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

Accountants

EJBC Chartered Accountants
2 Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

 

Fragrance Foundation United Kingdom

(Registration number: 03639525)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

3,480

834

Current assets

 

Debtors

102,986

88,472

Cash at bank and in hand

 

175,684

162,956

 

278,670

251,428

Creditors: Amounts falling due within one year

(118,775)

(127,624)

Net current assets

 

159,895

123,804

Net assets

 

163,375

124,638

Reserves

 

Retained earnings

163,375

124,638

Surplus

 

163,375

124,638

For the financial year ending 31 December 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.

Approved and authorised by the Board on 18 July 2024 and signed on its behalf by:
 

.........................................
Mrs Annalise Fard
Chairman

 

Fragrance Foundation United Kingdom

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

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.

 

Fragrance Foundation United Kingdom

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% 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.

 

Fragrance Foundation United Kingdom

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

2

Staff numbers

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

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

14,502

14,502

At 31 December 2023

14,502

14,502

Depreciation

At 1 January 2023

11,022

11,022

At 31 December 2023

11,022

11,022

Carrying amount

At 31 December 2023

3,480

3,480

At 31 December 2022

834

834