| Perfumes-4U Limited |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 . Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
|
|
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 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, tools and equipment |
25% written down value |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Fixtures and equipment |
| £ |
|
Cost |
|
At 1 January 2019 |
1,092 |
|
At 31 December 2019 |
1,092 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2019 |
1,029 |
|
Charge for the year |
63 |
|
At 31 December 2019 |
1,092 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2019 |
- |
|
At 31 December 2018 |
63 |
|
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade debtors |
6,780 |
|
- |
|
Other debtors |
3,750 |
|
3,750 |
|
|
|
|
|
|
10,530 |
|
3,750 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Trade creditors |
15,092 |
|
948 |
|
Corporation tax |
406 |
|
305 |
|
Other taxes and social security costs |
84 |
|
1,234 |
|
Other creditors |
1,350 |
|
1,348 |
|
|
|
|
|
|
16,932 |
|
3,835 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2019 |
|
2018 |
| £ |
£ |
|
Bio Laboratories Limited |
|
Ian Webb and Lorraine Rowland, directors and shareholders of this company are also directors of Bio Laboratories Limited |
|
During the year Bio Laboratories Limited sold goods to Perfumes 4U Limited, excluding VAT of |
|
14,805 |
|
40,317 |
|
During the year Bio Laboratories Limited provided services to Perfumes 4U Limited, excluding VAT of |
|
2,500 |
|
3,750 |
|
Amount owed by Perfumes 4U Limited at year end |
13,686 |
|
- |
|
Amount owed by Bio Laboratories Limited at year end |
3,750 |
|
3,750 |
|
|
Lorraine Rowland Designs Limited |
|
Lorraine Rowland a director and shareholder of this company is also director of Lorraine Rowland Design Limited |
|
During the year Lorraine Rowland Design Limited provided services to Perfumes 4U Limited, excluding VAT of |
|
38 |
|
4,133 |
|
Amount owed by Perfumes 4U Limited at year end |
- |
|
- |
|
|
|
| 7 |
Controlling party |
|
|
The company is owned and controlled by the Directors. |
|
|
| 8 |
Other information |
|
|
Perfumes-4U Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit1 Atlas Point |
|
Davenport Lane |
|
Broadheath |
|
Altrincham |
|
WA14 5DS |
