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Company No: 08846976 (England and Wales)

# ACE PARFUMS LIMITED

### Unaudited Financial Statements
For the financial period from 01 April 2023 to 23 March 2024
Pages for filing with the registrar

ACE PARFUMS LIMITED

## Unaudited Financial Statements

For the financial period from 01 April 2023 to 23 March 2024

Contents

ACE PARFUMS LIMITED

## COMPANY INFORMATION

For the financial period from 01 April 2023 to 23 March 2024
ACE PARFUMS LIMITED

## COMPANY INFORMATION (continued)

For the financial period from 01 April 2023 to 23 March 2024

DIRECTORS | Mr H Gandesha (Resigned 31 January 2024)
| Nishay Gandesha

REGISTERED OFFICE | Treviot House
| 186-192 High Road
| Ilford
| IG1 1LR
| United Kingdom

COMPANY NUMBER | 08846976 (England and Wales)

ACCOUNTANT | Gravita Essex Limited
| Treviot House
| 186-192 High Road
| Ilford
| Essex
| IG1 1LR
| United Kingdom

ACE PARFUMS LIMITED

## BALANCE SHEET

As at 23 March 2024
ACE PARFUMS LIMITED

## BALANCE SHEET (continued)

As at 23 March 2024

| Note | 23.03.2024 |  | 31.03.2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets |  | 5,062 |  | 5,101
Investments | 3 | 255,660 |  | 84,298
|  | 260,722 |  | 89,399
Current assets |  |  |  |
Stocks |  | 163,938 |  | 397,858
Debtors | 4 | 644,999 |  | 428,617
Cash at bank and in hand |  | 35,417 |  | 108,775
|  | 844,354 |  | 935,250
Creditors: amounts falling due within one year | 5 | ( 839,575) |  | ( 1,005,983)
Net current assets/(liabilities) |  | 4,779 |  | (70,733)
Total assets less current liabilities |  | 265,501 |  | 18,666
Net assets |  | 265,501 |  | 18,666
Capital and reserves |  |  |  |
Called-up share capital |  | 1,000 |  | 1,000
Profit and loss account |  | 264,501 |  | 17,666
Total shareholders' funds |  | 265,501 |  | 18,666

For the financial period ending 23 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of ACE Parfums Limited (registered number: 08846976) were approved and authorised for issue by the Director on 17 February 2026. They were signed on its behalf by:

Nishay Gandesha Director |

ACE PARFUMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 23 March 2024
ACE PARFUMS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 23 March 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

ACE Parfums Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 25 % reducing balance
Fixtures and fittings | 4 years straight line
Computer equipment | 25 % reducing balance

##### Fixed asset investments

Fixed asset investment relates to watches held by the company as investments at historical cost less provision for diminution in value.

##### Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

##### Hire purchase and 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.

#### 2. Employees

| Period from 01.04.2023 to 23.03.2024 |  | Year ended 31.03.2023
| Number |  | Number
Monthly average number of persons employed by the Company during the period, including the director | 3 |  | 3

#### 3. Fixed asset investments

| 23.03.2024 |  | 31.03.2023
| £ |  | £
Other investments and loans | 255,660 |  | 84,298

#### 4. Debtors

| 23.03.2024 |  | 31.03.2023
| £ |  | £
Trade debtors | 240,338 |  | 17,308
Amounts owed by connected companies | 333,868 |  | 315,568
Amounts owed by related parties | 50,172 |  | 49,373
Other debtors | 20,621 |  | 46,368
| 644,999 |  | 428,617

#### 5. Creditors: amounts falling due within one year

| 23.03.2024 |  | 31.03.2023
| £ |  | £
Trade creditors | 497,323 |  | 196,566
Amounts owed to connected companies | 0 |  | 493,350
Taxation and social security | 227,653 |  | 238,295
Other creditors | 114,599 |  | 77,772
| 839,575 |  | 1,005,983

#### 6. Related party transactions

Transactions with the entity's director

| 23.03.2024 |  | 31.03.2023
| £ |  | £
Amounts Advanced | 202,316 |  | 188,411
Amounts Repaid | (179,098) |  | (271,646)

The loan to the director is repayable on demand. Interest is charged on loans at the official interest set by HMRC.