Fine Fragrances and Cosmetics Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01967340 (England and Wales)

Fine Fragrances and Cosmetics Limited

Unaudited Financial Statements for the Year Ended 31st March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G Lynch-Staunton

S A Lynch-Staunton

L M Lovell

REGISTERED OFFICE:

Newbury House

Aintree Avenue

White Horse Business Park

Trowbridge

Wiltshire

BA14 0XB

REGISTERED NUMBER:

01967340 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Intangible assets

3

1

1

CURRENT ASSETS

Stocks

18,467

18,653

Debtors

4

49,054

44,478

67,521

63,131

CREDITORS

Amounts falling due within one year

5

32,359

43,105

NET CURRENT ASSETS

35,162

20,026

TOTAL ASSETS LESS CURRENT LIABILITIES

35,163

20,027

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

35,162

20,026

SHAREHOLDERS' FUNDS

35,163

20,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18th December 2017 and were signed on its behalf by:

G Lynch-Staunton - Director

1.	STATUTORY INFORMATION

Fine Fragrances and Cosmetics Limited is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Sale of goods:

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the

goods have transferred.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its

present location and condition. Cost is calculated using the first-in, first-out formula. Provision is

made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st April 2016

and 31st March 2017

1

NET BOOK VALUE

At 31st March 2017

1

At 31st March 2016

1

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

49,054

44,478

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

32,359

43,105

6.	ULTIMATE CONTROLLING PARTY

The parent company of which the company is a member is Lynch Staunton Limited, registered in

England and Wales. Lynch Staunton Limited is also the company's ultimate parent undertaking.

Copies of Lynch Staunton Limited's financial statements can be obtained from Companies House.