Aromaworks Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08039193 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2014

for

Aromaworks Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs J Hibbert

Hanover Resources Ltd

REGISTERED OFFICE:

Unit 1

Parkside Business Park

15 Headley Road

Woodley

Berkshire

RG5 4JB

REGISTERED NUMBER:

08039193 (England and Wales)

ACCOUNTANTS:

Kirkpatrick & Hopes Ltd

Overdene House

49 Church Street

Theale

Reading

Berkshire

RG7 5BX

FIXED ASSETS

Intangible assets

2

103,733

-

Tangible assets

3

23,655

-

127,388

-

CURRENT ASSETS

Stocks

108,987

-

Debtors

67,010

1

Cash at bank and in hand

8,508

-

184,505

1

CREDITORS

Amounts falling due within one year

448,322

-

NET CURRENT (LIABILITIES)/ASSETS

(263,817

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(136,429

)

1

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(136,430

)

-

SHAREHOLDERS' FUNDS

(136,429

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 January 2015 and were signed on its behalf by:

Mrs J Hibbert - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net sales of goods, excluding value added tax. Income is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Straight line over 5 years

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

33% on cost

Stocks

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

slow moving items.

Deferred tax

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

balance sheet date.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure is written off in

the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual

projects. In this situation, the expenditure is deferred and amortised over the period during which the company is

expected to benefit.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The company meets its day to day working capital requirements partially through the support of its creditors and

directors.The directors have considered the projected cash flow information for the company during the

foreseeable post year-end period. On the basis of this cash flow information and discussions with the company’s

creditors, the directors consider that the company will continue to operate within the available finance facilities.

However the margin of finance facilities over requirements is not large and, inherently there can be no certainty

in relation to this matter. On this basis, the directors consider it appropriate to prepare the financial statements

on the going concern basis. The financial statements do not include any adjustments that would result from a

withdrawal of the support of the company's creditors or directors.

Website development costs

Website development expenditure is capitalised during the period in which it relates. It amortised over the period

during which the company is expected to benefit.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

103,733

At 30 April 2014

103,733

NET BOOK VALUE

At 30 April 2014

103,733

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

29,633

At 30 April 2014

29,633

DEPRECIATION

Charge for year

5,978

At 30 April 2014

5,978

NET BOOK VALUE

At 30 April 2014

23,655

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

1

Ordinary

£1

1

1

5.	ULTIMATE PARENT COMPANY

Hanover Resources Limited is regarded by the directors as being the company's ultimate parent company.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the following balances existed on loan accounts with the directors and with

businesses under their control:

Mrs J Hibbert £230,871 in credit

During the year interest of £8,152 was charged on the directors loan account.