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REGISTERED NUMBER:
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Fine Fragrances and Cosmetics Limited |
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Unaudited Financial Statements for the Year Ended 31st March 2017 |
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REGISTERED NUMBER:
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Fine Fragrances and Cosmetics Limited |
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Unaudited Financial Statements for the Year Ended 31st March 2017 |
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Fine Fragrances and Cosmetics Limited (Registered number: 01967340) |
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Contents of the Financial Statements |
for the year ended 31st March 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Fine Fragrances and Cosmetics Limited |
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Company Information |
for the year ended 31st March 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
Fine Fragrances and Cosmetics Limited (Registered number: 01967340) |
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Balance Sheet |
31st March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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Fine Fragrances and Cosmetics Limited (Registered number: 01967340) |
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Notes to the Financial Statements |
for the year ended 31st March 2017 |
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1. | STATUTORY INFORMATION |
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Fine Fragrances and Cosmetics Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Sale of goods: |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
discounts. |
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Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the |
goods have transferred. |
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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. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
Fine Fragrances and Cosmetics Limited (Registered number: 01967340) |
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Notes to the Financial Statements - continued |
for the year ended 31st March 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1st April 2016 |
and 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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4. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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6. | ULTIMATE CONTROLLING PARTY |
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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. |