Company Registration No. 08235481 (England and Wales)
Natura Bisse International Limited
Financial statements
For the year ended 31 December 2023
Pages for filing with registrar
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
16,746
28,866
Tangible assets
4
99,714
102,905
116,460
131,771
Current assets
Stocks
18,585
15,601
Debtors
5
397,379
397,394
Cash at bank and in hand
357,036
198,885
773,000
611,880
Creditors: amounts falling due within one year
6
(841,320)
(801,987)
Net current liabilities
(68,320)
(190,107)
Net assets/(liabilities)
48,140
(58,336)
Capital and reserves
Called up share capital
7
3,900,000
3,300,000
Profit and loss reserves
(3,851,860)
(3,358,336)
Total equity
48,140
(58,336)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 1 May 2024 and are signed on its behalf by:
J B Albanell-Torres
Director
Company registration number 08235481 (England and Wales)
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year ended 31 December 2023, the company made a loss after tax of £493,524 (2022: £291,397), at the balance sheet date the company had net current liabilities of £68,320 (2022: £190,107) and net assets of £48,180 (2022: net liabilities £58,336).true
During the year the holding company, Natura Bisse International S.A subscribed for an additional £600,000 of share capital and the company continues to meet its day to day working capital requirements through loans from Natura Bisse International S.A. of £654,761 (2022: £653,155). Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis and they do not include any adjustments that would result from a withdrawal of support.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover arising from the sale of cosmetic products is recognised when the significant risk and rewards of ownership of the goods have passed to the buyer (upon delivery), the amounts of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover arising from commissions is recognised on delivery of the goods on sale of which commission is due
Turnover arising from the sale of services in the form of spa treatments is recognised on the day the treatment takes place.
Cost of sales are recognised in the same period as the related revenue.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
3-10 years
Website
3-6 years
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
Over the length of the lease - straight line
Custom software
25% straight line
Fixtures and fittings
10% - 25% straight line
Equipment
25% - 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
23
16
3
Intangible fixed assets
Software
Website
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
55,078
16,062
71,140
Amortisation and impairment
At 1 January 2023
40,917
1,357
42,274
Amortisation charged for the year
6,768
5,352
12,120
At 31 December 2023
47,685
6,709
54,394
Carrying amount
At 31 December 2023
7,393
9,353
16,746
At 31 December 2022
14,161
14,705
28,866
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
37,043
180,101
217,144
Additions
8,382
29,112
37,494
At 31 December 2023
45,425
209,213
254,638
Depreciation and impairment
At 1 January 2023
991
113,248
114,239
Depreciation charged in the year
7,409
33,276
40,685
At 31 December 2023
8,400
146,524
154,924
Carrying amount
At 31 December 2023
37,025
62,689
99,714
At 31 December 2022
36,052
66,853
102,905
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
304,320
282,971
Amounts owed by group undertakings
12,712
32,456
Other debtors
43,346
45,555
360,378
360,982
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
37,001
36,412
Total debtors
397,379
397,394
NATURA BISSE INTERNATIONAL LIMITED
Natura Bisse International Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
49,981
12,580
Amounts owed to group undertakings
654,761
653,155
Taxation and social security
74,405
46,746
Other creditors
62,173
89,506
841,320
801,987
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
3,900,000
3,300,000
3,900,000
3,300,000
During the year, 600,000 shares were issued at par for cash consideration.
8
Parent company
The parent of the smallest group of which consolidated financial statements are drawn up is Natura Bisse International S.A., a company incorporated in Spain. The address of their registered office is: Parc Tecnologic del Valles, Carrer Creu Casas i Sicart 96, Cerdanyola, Barcelona, 08290, Spain.
9
Company information
Natura Bisse International Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL. The principal place of business is 15 Grosvenor Gardens, London, SW1W 0BD.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Nigel Walfisz FCA
Statutory Auditor:
MGR Weston Kay LLP
Date of audit report:
2 May 2024