Registration number:
Cochabamba Parfums Limited
for the Year Ended 31 July 2024
Cochabamba Parfums Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Cochabamba Parfums Limited
Company Information
Directors |
Bridget Plant Rebecca Louise Brown |
Registered office |
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Accountants |
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Cochabamba Parfums Limited
(Registration number: 11453599)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
- |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Share premium reserve |
1 |
1 |
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Retained earnings |
(587,345) |
(504,417) |
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Shareholders' deficit |
(587,343) |
(504,415) |
For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Cochabamba Parfums Limited
(Registration number: 11453599)
Balance Sheet as at 31 July 2024
Approved and authorised by the
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Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
As of the balance sheet date, there was a net deficiency of assets amounting to £587,343 (2023: £504,415). However, based on the directors' assessment of future performance and their continued support, the accounts have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Revenue from the sales of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyers (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33% on cost |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less
accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks |
over 10 years straight line |
Website development |
over 10 years straight line |
Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Trademark |
Internally generated software development costs |
Trademark |
Total |
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Cost or valuation |
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At 1 August 2023 |
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Additions acquired separately |
- |
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At 31 July 2024 |
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Amortisation |
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At 1 August 2023 |
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Amortisation charge |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
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At 31 July 2023 |
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Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 August 2023 |
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At 31 July 2024 |
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Depreciation |
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At 1 August 2023 |
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Charge for the year |
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At 31 July 2024 |
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Carrying amount |
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At 31 July 2024 |
- |
- |
At 31 July 2023 |
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Stocks |
2024 |
2023 |
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Other inventories |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Other debtors |
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Income tax asset |
- |
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Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary of £0.01 each |
100 |
1 |
100 |
1 |
Related party transactions |
Transactions with directors |
2024 |
At 1 August 2023 |
Other payments made to company by director |
At 31 July 2024 |
Rebecca Louise Brown |
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Loan |
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245 |
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- |
- |
- |
3,301 |
245 |
3,545 |
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Bridget Plant |
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Loan |
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85,000 |
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- |
- |
- |
566,986 |
85,000 |
651,986 |
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Cochabamba Parfums Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
2023 |
At 1 August 2022 |
Other payments made to company by director |
At 31 July 2023 |
Rebecca Louise Brown |
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Loan |
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(6,837) |
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- |
- |
- |
10,138 |
(6,837) |
3,301 |
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Bridget Plant |
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Loan |
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139,000 |
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- |
- |
- |
427,986 |
139,000 |
566,986 |
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