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Registration number: 13270680

Oh My Cream Ltd

Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Oh My Cream Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Oh My Cream Ltd

Company Information

Director

Juliette Blanche Marianne Rebecca Levy

Registered office

Becket House
1 Lambeth Palace Road
London
SE1 7EU

Auditors

Carbon Accountancy Limited
Chartered Accountants and Registered Auditors
80-83 Long Lane
London
EC1A 9ET

 

Oh My Cream Ltd

(Registration number: 13270680)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

14,549

31,864

Tangible assets

6

768,285

475,398

 

782,834

507,262

Current assets

 

Stocks

7

295,307

293,456

Debtors

8

244,425

193,246

Cash at bank and in hand

 

247,146

197,588

 

786,878

684,290

Creditors: Amounts falling due within one year

9

(2,833,565)

(2,046,971)

Net current liabilities

 

(2,046,687)

(1,362,681)

Net liabilities

 

(1,263,853)

(855,419)

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

(1,263,854)

(855,420)

Shareholders' deficit

 

(1,263,853)

(855,419)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 2 June 2025
 

.........................................
Juliette Blanche Marianne Rebecca Levy
Director

 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Becket House
1 Lambeth Palace Road
London
SE1 7EU

These financial statements were authorised for issue by the director on 2 June 2025.

2

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

The financial statements have been prepared on a going concern basis.There was a net deficiency of assets of £1,263,853 (2023:£855,419) at the balance sheet date. The company partakes in a cash pooling arrangement with parent company which is available on demand. The director has received confirmation from the parent company,that it will continue to support the company for the foreseeable future and ensure it is able to meet its commitments to suppliers and other creditors when they fall due. Therefore, director continue to adopt the going concern basis of account in preparing the financial statements.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 2 June 2025 was John Leyden FCA, who signed for and on behalf of Carbon Accountancy Limited.

.........................................

Revenue recognition

Revenue from the retail of cosmetics and toiletries is recognised when the control is transferred to the customers. It is recognised at an amount that reflects the consideration to which the company expects to be entitled in exchange for transferring goods to the customer, net of discounts, VAT and returns.

 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Plant and Machinery

10% straight line

Computer Equipment

20% straight line

Leasehold improvements

10% straight line over the shorter of the remaining lease term and the useful life of the improvements

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Company is capitalising internally generated website costs when it is probable that expected future economic benefits will flow to the entity and the cost or value of the asset can be measures reliability.

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

Website costs

Straight line over 3 years

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.

 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 9).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

82,320

53,143

Amortisation expense

17,316

17,461

 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2024

51,946

51,946

At 31 December 2024

51,946

51,946

Amortisation

At 1 January 2024

20,082

20,082

Amortisation charge

17,315

17,315

At 31 December 2024

37,397

37,397

Carrying amount

At 31 December 2024

14,549

14,549

At 31 December 2023

31,864

31,864

6

Tangible assets

Leashold property improvements
£

Computer equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

525,235

3,691

16,004

544,930

Additions

343,873

-

35,157

379,030

Disposals

-

-

(4,680)

(4,680)

At 31 December 2024

869,108

3,691

46,481

919,280

Depreciation

At 1 January 2024

66,598

984

1,951

69,533

Charge for the year

77,373

738

4,209

82,320

Eliminated on disposal

-

-

(858)

(858)

At 31 December 2024

143,971

1,722

5,302

150,995

Carrying amount

At 31 December 2024

725,137

1,969

41,179

768,285

At 31 December 2023

458,638

2,707

14,053

475,398

 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Stocks

2024
£

2023
£

Finished goods and goods for resale

295,307

293,456

8

Debtors

2024
£

2023
£

Trade debtors

-

8,010

Prepayments

74,488

58,442

Other debtors

169,937

126,794

244,425

193,246

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

67,784

62,811

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,537,488

1,792,801

Taxation and social security

 

72,045

41,420

Accruals and deferred income

 

142,872

148,893

Other creditors

 

13,376

1,046

 

2,833,565

2,046,971

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Oh My Cream Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

291,500

207,500

Later than one year and not later than five years

1,166,000

830,000

Later than five years

875,750

726,250

2,333,250

1,763,750

12

Parent and ultimate parent undertaking

The company's immediate parent is Oh My Cream SAS, incorporated in France.

  These financial statements are available upon request from 5 Rue D'Aguesseau, Paris, France 75008

In the opinion of the director, there is no individual controlling party.

 

13

Non adjusting events after the financial period

On 12 March 2025, the company acquired the Brand 'Naturisimo'. The acquisition was funded through an inter-company loan from Oh My Cream SAS.
Management expects the acquisition to enhance the company’s market presence and contribute to future revenue growth.