Registration number:
Oh My Cream Ltd
for the Year Ended 31 December 2024
Oh My Cream Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Oh My Cream Ltd
Company Information
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Director |
Juliette Blanche Marianne Rebecca Levy |
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Registered office |
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Auditors |
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Oh My Cream Ltd
(Registration number: 13270680)
Balance Sheet as at 31 December 2024
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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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Retained earnings |
(1,263,854) |
(855,420) |
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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
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Oh My Cream Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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
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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
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:
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Asset class |
Depreciation method and rate |
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Plant and Machinery |
10% straight line |
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Computer Equipment |
20% straight line |
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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:
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Asset class |
Amortisation method and rate |
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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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Loss before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
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Oh My Cream Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
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Intangible assets |
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Internally generated software development costs |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Tangible assets |
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Leashold property improvements |
Computer equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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- |
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Disposals |
- |
- |
( |
( |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
( |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Oh My Cream Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
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Stocks |
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2024 |
2023 |
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Finished goods and goods for resale |
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Debtors |
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2024 |
2023 |
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Trade debtors |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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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
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Oh My Cream Ltd
Notes to the Financial Statements for the Year Ended 31 December 2024
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2024 |
2023 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Parent and ultimate parent undertaking |
The company's immediate parent is
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.
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Non adjusting events after the financial period |
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