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REGISTERED NUMBER: 07646207 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Hourglass Cosmetics UK Limited

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


Hourglass Cosmetics UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C J Moore
I Politi
A C Rudd





SECRETARY: J O Earley





REGISTERED OFFICE: Unilever House
100 Victoria Embankment
Blackfriars
London
EC4Y 0DY





REGISTERED NUMBER: 07646207 (England and Wales)





AUDITORS: Aspen Waite
Rubis House
15 Friarn Street
Somerset
TA6 3LH

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Strategic Report
for the Year Ended 31 December 2023


The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS
Hourglass Cosmetics UK Limited has as its mission to be the authority in cosmetics through excellent education, innovative products and outstanding customer service. Its core business is the distribution of premium cosmetics to retail resellers and direct-to-consumer.
The directors consider that, in the conditions prevailing during the year, the development of the Company's business and its financial position at the end of the year was satisfactory. The directors do not expect any development in the Company's business in the coming year, which is significantly different from its present activities.

PRINCIPAL RISKS AND UNCERTAINTIES
Kingdom Animalia LLC, based in Carson, California, is responsible for innovation, development and manufacturing of all branded goods sold by the Company. Consequently, the Company operates with limited product risk. The remaining business risks and uncertainties affecting the Company are considered to relate to customer landscape, economic and political changes, compliance and regulatory conditions.
In respect of financial risk, the Company purchases its products from Kingdom Animalia, LLC, in pounds sterling, minimizing the exposure to foreign exchange risk.

SECTION 172(1) STATEMENT
Directors have a duty to promote the success of the Company under section 172 to act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members, and in doing so have regard (amongst other matters) to:
(a) the likely consequences of any decision in the long term;
The Company's leadership team sets a three-year strategy, the details and performance are reviewed monthly to ensure decisions are taken for the long-term benefit.
(b) the desirability of the Company maintaining a reputation for high standards of business conduct; and
(c) the need to act fairly as between members of the Company.

ENGAGEMENT WITH EMPLOYEES
The Company's leadership team recognizes that their employees are fundamental to the success of the business and in turn their career development. Significant effort is made through frequent physical and digital meetings to keep the employees informed and engaged. Career development is actively promoted to encourage personal development.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
The Company considers its customers and suppliers an active extension of its tribe. The success of each is interdependent, therefore building relationships is a fundamental part of the business strategy.

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
The Company as part of the Unilever Group is subject to Unilever's Code of Business Principles and has applied these to its operations and this ensures a high standard of conduct.


Hourglass Cosmetics UK Limited (Registered number: 07646207)

Strategic Report
for the Year Ended 31 December 2023

THE IMPACT OF THE COMPANY'S OPERATIONS ON THE COMMUNITY AND THE ENVIRONMENT
The Company takes its responsibility in the community seriously, whether the beauty industry community or geography. This includes donations to charities where the Company believes in the campaign or cause

ON BEHALF OF THE BOARD:





C J Moore - Director


13 September 2024

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Report of the Directors
for the Year Ended 31 December 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale of cosmetics and related products.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
C J Moore , I Politi and A C Rudd were appointed as directors after 31 December 2023 but prior to the date of this report.

C M Janes and V Petrou ceased to be directors after 31 December 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Report of the Directors
for the Year Ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





C J Moore - Director


13 September 2024

Report of the Independent Auditors to the Members of
Hourglass Cosmetics UK Limited


Opinion
We have audited the financial statements of Hourglass Cosmetics UK Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Hourglass Cosmetics UK Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Hourglass Cosmetics UK Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to Hourglass Cosmetics UK Limited and determined that the most significant are those that relate to the reporting framework (FRS102, Companies Act 2006) and the relevant tax compliance regulations in the United Kingdom. In addition, we concluded that there are certain significant laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements and those laws and regulations relating to health and safety, employee matters, environmental and bribery and corruption practices.

We understood how Hourglass Cosmetics UK Limited is complying with those frameworks by making enquiries of management, those responsible for legal and compliance procedures.
We assessed the susceptibility of Hourglass Cosmetics UK Limited's Financial Statements to material misstatement, including how fraud might occur, by using internal and external information to perform a risk assessment. We considered the risk of fraud through management override and, in response, we incorporated reviews of manual journal entries into our audit approach. We also considered the possibility of fraudulent or corrupt payments made through third parties. Where instances of risk behaviour patterns were identified, we performed additional audit procedures to address each identified risk. These procedures included the testing of transactions back to source information and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Our procedures involved journal entry testing, with a focus on journals meeting our defined risk criteria based on our understanding of the business and company management.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Hourglass Cosmetics UK Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Waite FCCA (Senior Statutory Auditor)
for and on behalf of Aspen Waite
Rubis House
15 Friarn Street
Somerset
TA6 3LH

16 September 2024

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Income Statement
for the Year Ended 31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   

TURNOVER 15,765,098 10,218,551

Cost of sales 4,594,413 3,789,852
GROSS PROFIT 11,170,685 6,428,699

Distribution costs 535,807 532,379
Administrative expenses 10,333,665 5,699,159
10,869,472 6,231,538
301,213 197,161

Other operating income 265,411 215,955
OPERATING PROFIT 4 566,624 413,116


Interest payable and similar
expenses

5

(63,981

)

4,374
PROFIT BEFORE TAXATION 630,605 408,742

Tax on profit 6 161,038 70,066
PROFIT FOR THE FINANCIAL YEAR 469,567 338,676

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Other Comprehensive Income
for the Year Ended 31 December 2023

31/12/23 31/12/22
Notes £    £   

PROFIT FOR THE YEAR 469,567 338,676


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

469,567

338,676

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 541,835 632,827

CURRENT ASSETS
Stocks 8 1,192,962 117,809
Debtors 9 4,907,701 4,101,224
6,100,663 4,219,033
CREDITORS
Amounts falling due within one year 10 4,596,640 3,246,144
NET CURRENT ASSETS 1,504,023 972,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,045,858

1,605,716

PROVISIONS FOR LIABILITIES 11 76,082 105,507
NET ASSETS 1,969,776 1,500,209

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 1,969,676 1,500,109
SHAREHOLDERS' FUNDS 1,969,776 1,500,209

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





C J Moore - Director


Hourglass Cosmetics UK Limited (Registered number: 07646207)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 100 1,161,433 1,161,533

Changes in equity
Total comprehensive income - 338,676 338,676
Balance at 31 December 2022 100 1,500,109 1,500,209

Changes in equity
Total comprehensive income - 469,567 469,567
Balance at 31 December 2023 100 1,969,676 1,969,776

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Cash Flow Statement
for the Year Ended 31 December 2023

31/12/23 31/12/22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 53,945 243,108
Interest paid 63,981 (4,374 )
Tax paid - (41,521 )
Net cash from operating activities 117,926 197,213

Cash flows from investing activities
Purchase of tangible fixed assets (117,926 ) (197,213 )
Net cash from investing activities (117,926 ) (197,213 )

Increase in cash and cash equivalents - -
Cash and cash equivalents at
beginning of year

-

-

Cash and cash equivalents at end
of year

-

-

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023


1. Reconciliation of profit before taxation to cash generated from operations
31/12/23 31/12/22
£    £   
Profit before taxation 630,605 408,742
Depreciation charges 201,809 202,024
Loss on disposal of fixed assets 7,109 -
Decrease/(Increase) in group debtors (50,963 ) (1,047,671 )
(Decrease)/Increase in group creditors 1,354,233 26,544
Finance costs (63,981 ) 4,374
2,078,812 (405,987 )
(Increase)/decrease in stocks (1,075,153 ) 22,299
Increase in trade and other debtors (759,255 ) (284,513 )
(Decrease)/increase in trade and other creditors (190,459 ) 911,309
Cash generated from operations 53,945 243,108

Hourglass Cosmetics UK Limited (Registered number: 07646207)

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


1. Statutory information

Hourglass Cosmetics UK 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. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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, 25% on cost and 20% on cost

Stocks
Stocks and work in progress 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 first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.


Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect neither accounting nor taxable profit other than in a business combination, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date. For investment property that is measured at fair value, deferred tax is provided at the rate applicable to the sale of the property except for that part of the property that is depreciable and the company's business model is to consume substantially all of the value through use. In the latter case the tax rate applicable to income tax is used.

A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised or that the company has determined it is appropriate to recognise the deferred tax asset as it is recoverable due to the fact that the company is part of a UK group for group relief purposes.

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
31/12/23 31/12/22
£    £   
Wages and salaries 2,360,658 2,338,941
Social security costs 247,233 263,493
Other pension costs 53,212 42,345
2,661,103 2,644,779

The average number of employees during the year was as follows:
31/12/23 31/12/22

Sales and administration 80 62

31/12/23 31/12/22
£    £   
Directors' remuneration - -

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. Operating profit

The operating profit is stated after charging/(crediting):

31/12/23 31/12/22
£    £   
Depreciation - owned assets 201,809 202,023
Loss on disposal of fixed assets 7,109 -
Auditing of accounts 7,500 7,000
Accounts preparation 4,500 4,000
Foreign exchange differences 6,256 (5,165 )

5. Interest payable and similar expenses
31/12/23 31/12/22
£    £   
Other interest (63,981 ) 4,374

6. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/12/23 31/12/22
£    £   
Current tax:
UK corporation tax 190,462 61,207

Deferred tax (29,424 ) 8,859
Tax on profit 161,038 70,066

UK corporation tax was charged at 19%) in 2022.

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/12/23 31/12/22
£    £   
Profit before tax 630,605 408,742
Profit multiplied by the standard rate of corporation tax in the
UK of 23.510% (2022 - 19%)

148,255

77,661

Effects of:
Expenses not deductible for tax purposes 15,969 1,520
Capital allowances in excess of depreciation (1,582 ) (11,241 )
Other timing differences 154 -
CT/DT rate differences (1,758 ) 2,126
Total tax charge 161,038 70,066

The UK rate of corporation tax increased from 19% to 25% from 1 April 2023.

7. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 January 2023 1,021,132
Additions 117,926
Disposals (21,680 )
At 31 December 2023 1,117,378
Depreciation
At 1 January 2023 388,305
Charge for year 201,809
Eliminated on disposal (14,571 )
At 31 December 2023 575,543
Net book value
At 31 December 2023 541,835
At 31 December 2022 632,827

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. Stocks
31/12/23 31/12/22
£    £   
Stocks 1,090,031 117,809
Work-in-progress 102,931 -
1,192,962 117,809

9. Debtors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade debtors 2,711,595 2,095,634
Amounts owed by group undertakings 1,951,392 1,904,170
Other debtors 1,025 -
Group relief receivable 73,449 73,449
Prepayments 170,240 27,971
4,907,701 4,101,224

Amounts owed by group undertakings include balances with Unilever Finance International AG which are unsecured, interest bearing and repayable on demand.

10. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Trade creditors 225,271 426,329
Amounts owed to group undertakings 2,681,408 1,330,915
Group relief payable 251,669 61,207
VAT 861,180 559,359
Accrued expenses 577,112 868,334
4,596,640 3,246,144

Amounts owed to group undertakings comprise of payable trade balances, these balances are unsecured, interest free and payable on demand.

11. Provisions for liabilities
31/12/23 31/12/22
£    £   
Deferred tax
Accelerated capital allowances 82,946 112,371
Other timing differences (6,864 ) (6,864 )
76,082 105,507

Hourglass Cosmetics UK Limited (Registered number: 07646207)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 January 2023 105,507
Credit to Income Statement during year (29,425 )
Balance at 31 December 2023 76,082

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
100 Ordinary shares £1 100 100

13. Reserves
Retained
earnings
£   

At 1 January 2023 1,500,109
Profit for the year 469,567
At 31 December 2023 1,969,676

14. Ultimate parent company

The ultimate parent company and controlling party is Unilever PLC and the immediate holding company is Unilever Overseas Holdings Limited, both companies are incorporated in England.

15. Related party disclosures

The Company has not disclosed transactions with fellow, wholly owned subsidiaries in accordance with the exemption under the terms of International Accounting Standard (IAS) 24 "Related party disclosures" as the ultimate parent company produces publicly available consolidated financial statements. Copies of Unilever Group financial statements can be publicly obtained from Unilever PLC, Group Company Secretary's Department, 100 Victoria Embankment, London EC4Y 0DY and www.unilever.com.