REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROJA PARFUMS HOLDINGS LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
ROJA PARFUMS HOLDINGS LIMITED |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Strategic Report | 1 |
Report of the Directors | 2 |
Report of the Independent Auditors | 3 |
Statement of Income and Retained Earnings | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 31 MARCH 2024 |
The directors present their strategic report for the year ended 31 March 2024. |
The company is involved in the manufacturing and sales of perfumes through a boutique, website, exclusive distributors and wholesalers globally. |
REVIEW OF BUSINESS |
Key performance indicators |
2024 | 2023 | Change |
£ | £ | % |
Sales | 17,152,401 | 14,239,659 | 20 |
Gross profit | 12,268,294 | 10,953,947 | 12 |
Operating profit | 5,317,889 | 4,742,935 | 12 |
Sales grew by 20%, driven by strong growth in key regions: the Middle East, Asia, and the UK. There are two exceptional costs in FY24: a stock write-off (increasing the cost of goods) and a dilapidations provision for our London Boutique (under admin expenses). |
The company continues to foster a culture of innovation and exploration, consistently introducing groundbreaking ideas to the market through its distinctive product launches. By staying ahead of industry trends, the company has solidified its reputation as a forward-thinking brand. |
In line with its strategic goals, the brand is leveraging the momentum of emerging market trends, positioning itself perfectly to capture sustainable long-term growth. This focus is particularly strong in the US, central Europe, Middle East and Asia, where demand for modern luxury is rapidly evolving, and the company is well-placed to redefine the sector in these key regions. |
As part of its ambitious growth strategy, the company has established a new vision for ROJA, centred on elevating the brand's positioning in the luxury market. This approach is complemented by a conscious effort to engage with a broader and more diverse demographic, ensuring the brand remains relevant, aspirational, and aligned with the preferences of modern consumers. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The company has a balance of costs and revenue in GBP, USD and EUR and the directors do not feel there is significant exposure to currency fluctuations. |
SUSTAINABILITY |
Here at Roja we understand there is an urgent need for a global effort towards more sustainable methods of operation. We believe that luxury and sustainability can no longer remain independent of one another. This is why we aim to become a market leader by combining these two elements to deliver a product our customers can be confident in. |
Roja have recently been awarded The Butterfly Mark accreditation from Positive Luxury. After 2 years' our score grew +44% through our focus on: Clean Formulations, Vegan and Cruelty Free, Conscious Partnership, Made in England, Sustainably Sourced Ingredients, Recyclable Packaging. The Butterfly Mark is an independent certification for luxury brands that are meeting higher and higher standards for people and nature. |
ON BEHALF OF THE BOARD: |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The directors present their report with the financial statements of the company for the year ended 31 March 2024. |
DIVIDENDS |
Interim dividends amounting to £2,900,000 (2023: £2,610,000) were declared. No final dividend has been recommended. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report. |
DISCLOSURE IN THE STRATEGIC REPORT |
The company has chosen, in accordance with the Companies Act 2006 s414C(11), to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' 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; |
- | 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. |
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: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROJA PARFUMS HOLDINGS LIMITED |
Opinion |
We have audited the financial statements of Roja Parfums Holdings Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and 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 March 2024 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. |
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. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ROJA PARFUMS HOLDINGS LIMITED |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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. |
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: |
Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed included: |
- | Enquiring of management whether there were instances of non-compliance with laws and regulation or fraud; |
- | Review of legal expenses for evidence of fees relating to non-compliance; |
- | Reviewing journal entries, non-sales bank receipts and non-purchase bank payments for unusual accounting entries; and |
- | Substantive revenue cut off testing to confirm that revenue had been recognised in the correct period. |
There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
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. |
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. |
for and on behalf of |
Statutory Auditor |
15 West Street |
Brighton |
East Sussex |
BN1 2RL |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
STATEMENT OF INCOME AND |
RETAINED EARNINGS |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Distribution costs | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
5,320,462 | 4,743,780 |
Interest payable and similar expenses | 6 | ( |
) |
PROFIT BEFORE TAXATION |
Tax on profit | 7 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
Dividends | 8 | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 15 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 16 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Roja Parfums Holdings Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
The principal activity of the company was the distribution and retail of perfumes and related products. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 3.17(d); |
• | the requirement of paragraph 33.7. |
Preparation of consolidated financial statements |
The financial statements contain information about Roja Parfums Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Roja Parfums Holdings II Limited, 41 New England Street, New England Quarter, Brighton BN1 4GQ. |
Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical judgements |
There are no critical judgements. |
Key accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
i. Stock provision |
Provision is made for obsolete stock. This requires management’s best estimate of the value of stock that will not be sold or used, or will be sold at less than carrying value, based on discontinued or unwanted stock. |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of discounts and rebates allowed by the company and value added taxes. |
The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer, (b) the company retains no continuing involvement or control over the goods. (c) the amount of revenue can be measured reliably, (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company’s sales channels have been met, as described below. |
i Sale of goods - distributors and internet based transactions |
The company sells goods globally to distributors. Revenue is recognised when the risks and rewards of the inventory are passed to the customer. This is the point of acceptance of the goods by the customer. Transactions are credit sales.. |
ii. Sale of goods - retail |
The company operates a retail shop for the sale of own branded products. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities, such as trade debtors and trade creditors. |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Debtors and creditors receivable or payable after one year are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
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. |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | 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. |
Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Provisions |
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount of the obligation can be estimated reliably. |
Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2024 | 2023 |
£ | £ |
United Kingdom |
Europe |
United States of America |
South America |
Asia |
Internet | 2,479,961 | 1,994,369 |
Middle East | 2,836,563 | 2,051,854 |
CIS | 1,198,268 | 758,360 |
Africa | 309,857 | - |
Rest of the World | - | 1,738,408 |
The analysis of the geographical split of the 2022/23 revenue has been restated to correct the analysis. |
Turnover was from the sale of goods for both the current and prior years. |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Retail | 12 | 11 |
Administration | 17 | 17 |
Management | 5 | 5 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
2024 | 2023 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Loss on disposal of fixed assets |
Auditors' remuneration |
Foreign exchange differences | ( |
) | ( |
) |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Interest on overdue tax |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
(Over)/under provision in prior year | - | 455 |
Total current tax |
Deferred tax | ( |
) | ( |
) |
Tax on profit |
UK corporation tax has been charged at 25% (2023 - 19%). |
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: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Adjustments to tax charge in respect of previous periods |
Tax at different rates | ( |
) | ( |
) |
Total tax charge | 1,352,098 | 899,088 |
From 1 April 2023, the corporation tax rate increased from 19% to 25%. |
8. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary B shares of £1 each |
Interim |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
10. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
Finished goods |
Stock is stated after provisions for impairment of £788,872 (2023: £175,000). The impairment loss recognised in the profit and loss is £613,872 (2023: £115,031). |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
14. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
15. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Other timing differences | (708 | ) | (1,431 | ) |
Other provisions | 86,000 | - |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 April 2023 |
(Credit)/charge to Income Statement during year | ( |
) |
Balance at 31 March 2024 |
The net deferred tax liability expected to reverse in 2024/25 is £7,021 (2023/24: £7,600). This relates to the reversal of timing differences on acquired tangible assets and capital allowances through depreciation. |
Other provisions |
Other provisions includes £86,000 (2023: £nil) as a provision for dilapidations for two properties. As part of the company's property leasing arrangements there is an obligation to repair damages incurred during the lease and re-instate alterations made. The cost has been charged to the profit and loss as the obligation arises. £43,000 of the provision relating to one of the properties is expected to be utilised in 2025/26 when the lease terminates. The remaining £43,000 relates to a property with no lease in place. |
16. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary B | £1 | 1,900 | 1,900 |
The shares give the right to vote, receive dividends, distributions and participate in a return of capital howsoever arising except from that arising in relation to property held by the company. The shares are non-redeemable. |
17. | PENSION COMMITMENTS |
The company operates a defined contribution pension plan for its employees. the amount recognised as an expense in the period was £34,451 (2023: £8,134). |
ROJA PARFUMS HOLDINGS LIMITED (REGISTERED NUMBER: 07881919) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
18. | ULTIMATE PARENT COMPANY |
Roja Parfums Holdings II Limited is regarded by the directors as being the company's ultimate parent company. |
Its registered office is 41 New England Street, New England Quarter, Brighton BN1 4GQ. |
19. | RELATED PARTY DISCLOSURES |
2024 | 2023 |
£ | £ |
Sales |
Purchases |
Amount due from related party |
Amount due to related party |
20. | FIXED ASSET INVESTMENTS |
Roja Parfums Holdings Limited has an investment in Roja Dove Limited representing 100% ownership and control of the issued share capital of £1. This investment has been fully written off and has a carrying value of £nil (2022: £nil). Roja Dove Limited is a dormant company. Its registered office is 41 New England Street, New England Quarter, Brighton BN1 4GQ. |
Roja Dove Limited was dissolved on 14 January 2025. |