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REGISTERED NUMBER: 09445872 (England and Wales)















REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

IKON PERFUMES LIMITED

IKON PERFUMES LIMITED (Registered number: 09445872)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 JUNE 2024




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


IKON PERFUMES LIMITED

COMPANY INFORMATION
for the Year Ended 30 JUNE 2024







DIRECTOR: D Strickley



REGISTERED OFFICE: Minerva House,
Bordyke,
Tonbridge
Kent
TN9 1NR



REGISTERED NUMBER: 09445872 (England and Wales)



ACCOUNTANTS: Bennett & Co
The Annexe
Minerva House
Bordyke
Tonbridge
Kent
TN9 1NR



BANKERS: Virgin Money

IKON PERFUMES LIMITED (Registered number: 09445872)

REPORT OF THE DIRECTOR
for the Year Ended 30 JUNE 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of Cosmetics Supplies.

DIRECTOR
D Strickley held office during the whole of the period from 1 July 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D Strickley - Director


20 August 2024

IKON PERFUMES LIMITED (Registered number: 09445872)

INCOME STATEMENT
for the Year Ended 30 JUNE 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 480,352 386,743

Cost of sales 256,845 220,549
GROSS PROFIT 223,507 166,194

Administrative expenses 171,536 125,807
OPERATING PROFIT and
PROFIT BEFORE TAXATION 51,971 40,387

Tax on profit 5 9,650 5,250
PROFIT FOR THE FINANCIAL YEAR 42,321 35,137

IKON PERFUMES LIMITED (Registered number: 09445872)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 4,500 3,000

CURRENT ASSETS
Stocks 302,982 258,566
Debtors 7 128,798 118,301
Cash at bank and in hand 9,205 5,226
440,985 382,093
CREDITORS
Amounts falling due within one year 8 306,398 259,068
NET CURRENT ASSETS 134,587 123,025
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,087

126,025

CREDITORS
Amounts falling due after more than one
year

9

29,069

58,328
NET ASSETS 110,018 67,697

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 109,018 66,697
SHAREHOLDERS' FUNDS 110,018 67,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

IKON PERFUMES LIMITED (Registered number: 09445872)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





D Strickley - Director


IKON PERFUMES LIMITED (Registered number: 09445872)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 JUNE 2024

1. STATUTORY INFORMATION

IKON PERFUMES 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.

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.

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.

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

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.

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.

3. EMPLOYEES AND DIRECTORS
30.6.24 30.6.23
£    £   
Wages and salaries 104,982 79,996
Social security costs 6,454 4,092
111,436 84,088

IKON PERFUMES LIMITED (Registered number: 09445872)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
30.6.24 30.6.23

Management 3 2

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 1,574 504

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.6.24 30.6.23
£    £   
Current tax:
UK corporation tax 9,600 5,250
Adjustment in respect of
previous year 50 -

Tax on profit 9,650 5,250

6. TANGIBLE FIXED ASSETS
Office
and
Computer
Equipment
£   
COST
At 1 July 2023 4,640
Additions 3,074
At 30 June 2024 7,714
DEPRECIATION
At 1 July 2023 1,640
Charge for year 1,574
At 30 June 2024 3,214
NET BOOK VALUE
At 30 June 2024 4,500
At 30 June 2023 3,000

IKON PERFUMES LIMITED (Registered number: 09445872)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade Debtors 114,554 112,389
Other Debtors 5,912 5,912
Value Added Tax 8,332 -
128,798 118,301

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 73,869 -
Trade Creditors 163,767 46,905
Corporation Tax 9,600 5,250
PAYE and Social Security 6,029 2,083
Value Added Tax - 4,723
Directors' current accounts 50,133 197,357
Accrued Expenses 3,000 2,750
306,398 259,068

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years - 24,306
Bank loans more 5 yr by instal 29,069 34,022
29,069 58,328

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 29,069 34,022

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
500 Ordinary Shares £1 500 500
500 'B' Non-Voting Ordinary £1 500 500
1,000 1,000

IKON PERFUMES LIMITED (Registered number: 09445872)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2024

11. RESERVES
Retained
earnings
£   

At 1 July 2023 66,697
Profit for the year 42,321
At 30 June 2024 109,018