AGENCE DE PARFUMERIE LTD - Filleted accounts

Registered number

06293536

AGENCE DE PARFUMERIE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

PAGES FOR FILING WITH REGISTRAR

AGENCE DE PARFUMERIE LTD

CONTENTS



Page

Balance sheet	1 - 2

Notes to the financial statements	3 - 7

AGENCE DE PARFUMERIE LTD

Balance Sheet

as at 31 March 2024
Company Registration No.	06293536



Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		24,724			15,218

Current assets
Stocks		572,656			492,530
Debtors	4	1,187,842			2,660,793
Cash at bank and in hand		131,409			140,592
		1,891,907			3,293,915

Creditors: amounts falling due within one year	5	(1,026,986)			(2,445,215)

Net current assets			864,921			848,700

Total assets less current liabilities			889,645			863,918

Creditors: amounts falling due after more than one year	6		(303,414)			(309,047)



Net assets			586,231			554,871

Capital and reserves
Called up share capital			1,000			1,000
Share premium			99,600			99,600
Profit and loss account			485,631			454,271

Shareholder's funds			586,231			554,871


The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..
Paul Christodoulides
Director

Approved by the board on 4 April 2025

AGENCE DE PARFUMERIE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024



1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to the small companies regime. The disclosure requirements of section 1A have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment	20% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost include all costs incurred in bringing the stocks to their present location and condition. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

	Financial instruments
	The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

	Taxation
	The tax expense represents the sum of the tax currently payable and deferred tax.

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

	Deferred tax
	Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities relate to taxes levied by the same tax authority.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Retirement benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		10		10


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 1 April 2023				84,535
	Additions				17,839
	At 31 March 2024				102,374

	Depreciation
	At 1 April 2023				69,317
	Charge for the year				8,333
	At 31 March 2024				77,650

	Net book value
	At 31 March 2024				24,724
	At 31 March 2023				15,218


4	Debtors		2024		2023
£				£

	Trade debtors		191,804		1,793,743
	Other taxes and social security costs		-		72,632
	Director's current account		200,016		17,991
	Other debtors		796,022		776,427
			1,187,842		2,660,793

	(Included in Other Debtors are dues from IFD Fragrance Distribution Ltd £355,641 (2023 - £541,158) and from ADP Fragrance and beauty Limited £147,381.

	The director's current account represents amount due from the director of the company. The maximum amount outstanding during the year was £200,016 (2023: £17,991) which was repaid after the year end.


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans		107,530		87,191
	Trade creditors		581,819		2,210,180
	Corporation tax		28,278		98,023
	Other taxes and social security costs		81,425		-
	Other creditors		227,934		49,821
			1,026,986		2,445,215

	(Included in Other creditors is due to Dew Dew Moran Ltd £227,934 (2023 - £47,733).


6	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		303,414		309,047


7	Other information

	Agence De Parfumerie Ltd is a private company limited by shares and incorporated in England and Wales. The registered office is: Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF.