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REGISTERED NUMBER: 07756921 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE VINTAGE COSMETIC COMPANY LIMITED

THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE VINTAGE COSMETIC COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B P Andrews
S G Flatt
J B Flatt



REGISTERED OFFICE: Studio 10.1.1
The Leathermarket
Weston Street
London
SE1 3ER



REGISTERED NUMBER: 07756921 (England and Wales)



SENIOR STATUTORY AUDITOR: Andrew Green LLB FCA



AUDITORS: THP Limited
Chartered Accountants
and Statutory Auditors
34-40 High Street
Wanstead
London
E11 2RJ

THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 1,400
Tangible assets 6 - 6,093
- 7,493

CURRENT ASSETS
Stocks 7 - 1,112,252
Debtors 8 1,002,895 1,266,383
Cash at bank - 635,914
1,002,895 3,014,549
CREDITORS
Amounts falling due within one year 9 - 2,019,147
NET CURRENT ASSETS 1,002,895 995,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,002,895

1,002,895

CAPITAL AND RESERVES
Called up share capital 404 404
Share premium 186,146 186,146
Capital redemption reserve 20 20
Retained earnings 816,325 816,325
SHAREHOLDERS' FUNDS 1,002,895 1,002,895

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





B P Andrews - Director


THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

The Vintage Cosmetic Company 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 presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and value added taxes.

Revenue is recognised when the significant risks and rewards of the goods have passed to the customer, which is typically the point when goods are delivered to and accepted by the customer.

Trademarks
Amortisation is calculated so as to write off the cost of an asset, less estimated residual value, over the useful economic life of that asset as follows:

Trademarks Over 3 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and equipment - 50% on cost

Stocks
Stock is stated at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognized as an expense in the period in which the related revenue is recognized.

Cost is determined on an average cost basis. Cost includes the purchase price, including taxes and duties, transport and all other costs directly attributable to bringing the stock to its present location and condition.

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

Current or deferred 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.


THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 14 ).

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 49,655
Reclassification/transfer (49,655 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 48,255
Reclassification/transfer (48,255 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,400

THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property equipment Totals
£    £    £   
COST
At 1 January 2023 6,092 14,931 21,023
Acquired on hive up (6,092 ) (14,931 ) (21,023 )
At 31 December 2023 - - -
DEPRECIATION
At 1 January 2023 6,092 8,838 14,930
Reclassification/transfer (6,092 ) (8,838 ) (14,930 )
At 31 December 2023 - - -
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - 6,093 6,093

7. STOCKS
2023 2022
£    £   
Finished goods - 1,112,252

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,236,894
Amounts owed by group undertakings 1,002,895 -
Prepayments and accrued income - 29,489
1,002,895 1,266,383

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 295,407
Amounts owed to group undertakings - 1,327,201
Corporation tax - 56,605
Social security and other taxes - 11,867
VAT - 25,255
Accrued expenses - 302,812
- 2,019,147

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 407,518

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

The Report of the Auditors was unqualified.

Andrew Green LLB FCA (Senior Statutory Auditor)
for and on behalf of THP Limited

THE VINTAGE COSMETIC COMPANY LIMITED (REGISTERED NUMBER: 07756921)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Upper Canada UK Limited and its accounts are available from Companies House.

Their parent company is Upper Canada Soap & Candle Makers Incorporated (incorporated in Canada and registered office at 5875 Chedworth Way Mississauga, ON L5R 3L9).

The ultimate parent company is CVI Canada Incorporated, who are also incorporated in Canada and registered at the same address.

The immediate and ultimate parent companies are not required to prepare consolidated accounts.

The ultimate controlling party is S G Flatt.