Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueSale of perfume and cosmeticstruetruetrue2023-01-01false77truefalse 11991405 2023-01-01 2023-12-31 11991405 2022-01-01 2022-12-31 11991405 2023-12-31 11991405 2022-12-31 11991405 2022-01-01 11991405 c:Director1 2023-01-01 2023-12-31 11991405 d:FurnitureFittings 2023-01-01 2023-12-31 11991405 d:ComputerEquipment 2023-01-01 2023-12-31 11991405 d:ComputerEquipment 2023-12-31 11991405 d:ComputerEquipment 2022-12-31 11991405 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11991405 d:CurrentFinancialInstruments 2023-12-31 11991405 d:CurrentFinancialInstruments 2022-12-31 11991405 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11991405 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11991405 d:ShareCapital 2023-12-31 11991405 d:ShareCapital 2022-12-31 11991405 d:ShareCapital 2022-01-01 11991405 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11991405 d:RetainedEarningsAccumulatedLosses 2023-12-31 11991405 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11991405 d:RetainedEarningsAccumulatedLosses 2022-12-31 11991405 d:RetainedEarningsAccumulatedLosses 2022-01-01 11991405 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11991405 c:OrdinaryShareClass1 2023-12-31 11991405 c:OrdinaryShareClass1 2022-12-31 11991405 c:FRS101 2023-01-01 2023-12-31 11991405 c:Audited 2023-01-01 2023-12-31 11991405 c:FullAccounts 2023-01-01 2023-12-31 11991405 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11991405 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11991405 d:FinancialAssetsAmortisedCost 2023-01-01 2023-12-31 11991405 d:FinancialLiabilitiesAmortisedCost 2023-01-01 2023-12-31 11991405 2 2023-01-01 2023-12-31 11991405 d:FinanceLeases d:WithinOneYear 2023-12-31 11991405 d:FinanceLeases d:WithinOneYear 2022-12-31 11991405 d:FinanceLeases d:BetweenOneFiveYears 2023-12-31 11991405 d:FinanceLeases d:BetweenOneFiveYears 2022-12-31 11991405 d:FinanceLeases 2023-12-31 11991405 d:FinanceLeases 2022-12-31 11991405 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11991405










CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
REGISTERED NUMBER: 11991405

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
1,464
1,487

  
1,464
1,487

Current assets
  

Debtors: amounts falling due within one year
 5 
267,013
392,671

Cash at bank and in hand
 6 
128,176
396,873

  
395,189
789,544

Creditors: amounts falling due within one year
 7 
(733,971)
(883,955)

Net current liabilities
  
 
 
(338,782)
 
 
(94,411)

Total assets less current liabilities
  
(337,318)
(92,924)

  

  

  

Net assets excluding pension asset
  
(337,318)
(92,924)

Net liabilities
  
(337,318)
(92,924)


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
(337,319)
(92,925)

  
(337,318)
(92,924)


Page 1

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
REGISTERED NUMBER: 11991405
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Sabadell Bosch
Director
Date: 19 November 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
1
(22,874)
(22,873)



Loss for the year
-
(70,051)
(70,051)



At 1 January 2023
1
(92,925)
(92,924)



Loss for the year
-
(244,394)
(244,394)


At 31 December 2023
1
(337,319)
(337,318)


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

CVL Cosmetics South Middle Europe UK Ltd is a private company limited by shares, incorporated in England and Wales, registration number 11991405. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 101 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures

This information is included in the consolidated financial statements of CVL Cosmetics South Middle Europe S.L.U.  as at 31 December 2023 and these financial statements may be obtained from Avenida Diagonal 598, principal 2, 08021, Barcelona, Spain.

 
2.3

GOING CONCERN

The parent company has provided confirmation that it intends to continue to provide support for the company. The directors have reviewed forecasts and budgets and conclude that the company will be able to meet its liabilities as they fall due for at least 12 months from the date of signing these financial statements, reliant on support from its parent undertaking. On that basis they have concluded that the going concern basis is appropriate.

Page 4

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The Company does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Company does not adjust any of the transaction prices for the time value of money.

Sale of goods

Revenue from the sale of goods is recognised on the satisfaction of performance obligations, such as the transfer of a promised good, identified in the contract between the Company and the customer.

A receivable is recognised when the goods are delivered as this is the point in time that the consideration is unconditional because only the passage of time is required before the payment is due.

Rendering of services

Revenue from providing services is recognised in the accounting period in which the services are rendered.

For fixed-price contracts, revenue is recognised based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided because the customer receives and uses the benefits simultaneously.

 
2.6

LEASES

The Company as a lessor

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

 
2.7

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.8

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

PENSIONS

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 Years straight line method
Computer equipment
-
3 Years straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

DEBTORS

Trade and other debtors are recorded initially at fair value, reflected by transaction price. Subsequently they are measured and carried at amortised cost using effective interest method, less any impairment. Trade and other debtors are assessed for indicators of impairment at each balance sheet date.

 
2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 7

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

CREDITORS

Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

 
2.14

FINANCIAL INSTRUMENTS


The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:

Financial assets and financial liabilities are initially measured at fair value. 

Financial assets

All recognised financial assets are subsequently measured in their entirety at either fair value or amortised cost, depending on the classification of the financial assets.

Debt instruments at amortised cost

Debt instruments are subsequently measured at amortised cost where they are financial assets held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and selling the financial assets, and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Amortised cost is calculated using the effective interest method and represents the amount measured at initial recognition less repayments of principal plus the cumulative amortisation using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance.

Financial liabilities

At amortised cost

Financial liabilities which are neither contingent consideration of an acquirer in a business combination, held for trading, nor designated as at fair value through profit or loss are subsequently measured at amortised cost using the effective interest method. This is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments through the expected life of the financial liability, or where appropriate a shorter period, to the amortised cost of a financial liability.

Page 8

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


EMPLOYEES

2023
2022
£
£

Wages and salaries
227,792
196,869

Social security costs
17,850
15,474

Cost of defined contribution scheme
4,438
3,384

250,080
215,727


The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
6
6



Directors
1
1

7
7


4.


TANGIBLE FIXED ASSETS





Computer equipment

£



Cost or valuation


At 1 January 2023
2,231


Additions
927



At 31 December 2023

3,158



Depreciation


At 1 January 2023
744


Charge for the year on owned assets
950



At 31 December 2023

1,694



Net book value



At 31 December 2023
1,464



At 31 December 2022
1,487

Page 9

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
251,304
375,453

Other debtors
10,000
10,724

Prepayments and accrued income
5,709
6,494

267,013
392,671


The carrying value of debtors classified as loans and receivables approximates fair value.


6.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
128,176
396,873

128,176
396,873



7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,735
15,101

Amounts owed to group undertakings
613,163
759,165

Other taxation and social security
76,897
96,311

Other creditors
830
458

Accruals and deferred income
28,346
12,920

733,971
883,955


The carrying value of trade and other payables classified as financial liabilities measured at amortised cost approximates fair value.


8.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


Page 10

 
CVL COSMETICS SOUTH MIDDLE EUROPE UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pensions cost charge represents contributions payable by the company to the fund and amounted to £4,438 (2022: £3,384). Contributions totalling £830 (2022: £458) were payable to the fund at the balance sheet date and are included in creditors. 


10.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
3,223
-

Later than 1 year and not later than 5 years
3,491
-

6,714
-


11.


RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 101 not to disclose details of
transactions between wholly owned group undertakings.


12.


CONTROLLING PARTY

In the opinion of the director, the company’s immediate and ultimate parent company is CVL Cosmetics South Middle Europe S.L.U., a company incorporated in Spain, by virtue of their shareholding.
The smallest and largest group for which consolidated accounts are produced, that include the results of the company, is headed by CVL Cosmetics South Middle Europe S.L.U. Copies of the group financial statements are available from Registro Mercantil Central, Madrid, Spain.
The company’s ultimate controlling party is D J Guillon.


13.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 19 November 2024 by Rajiv Thakerar FCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 11