IRIS Accounts Production v24.2.0.383 14492830 Board of Directors 18.11.22 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh144928302022-11-17144928302024-03-31144928302022-11-182024-03-31144928302022-11-1714492830ns15:EnglandWales2022-11-182024-03-3114492830ns14:PoundSterling2022-11-182024-03-3114492830ns10:Director12022-11-182024-03-3114492830ns10:PrivateLimitedCompanyLtd2022-11-182024-03-3114492830ns10:SmallEntities2022-11-182024-03-3114492830ns10:AuditExempt-NoAccountantsReport2022-11-182024-03-3114492830ns10:SmallCompaniesRegimeForDirectorsReport2022-11-182024-03-3114492830ns10:SmallCompaniesRegimeForAccounts2022-11-182024-03-3114492830ns10:FullAccounts2022-11-182024-03-311449283012022-11-182024-03-3114492830ns10:Director22022-11-182024-03-3114492830ns10:RegisteredOffice2022-11-182024-03-3114492830ns5:CurrentFinancialInstruments2024-03-3114492830ns5:ShareCapital2024-03-3114492830ns5:SharePremium2024-03-3114492830ns5:RetainedEarningsAccumulatedLosses2024-03-3114492830ns5:IntangibleAssetsOtherThanGoodwill2022-11-182024-03-3114492830ns5:PatentsTrademarksLicencesConcessionsSimilar2022-11-182024-03-3114492830ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-11-182024-03-3114492830ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-3114492830ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3114492830ns5:ComputerEquipment2022-11-182024-03-3114492830ns5:ComputerEquipment2024-03-3114492830ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31
REGISTERED NUMBER: 14492830 (England and Wales)















Unaudited Financial Statements

for the Period 18 November 2022 to 31 March 2024

for

Diem Scents Ltd

Diem Scents Ltd (Registered number: 14492830)






Contents of the Financial Statements
for the Period 18 November 2022 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Diem Scents Ltd

Company Information
for the Period 18 November 2022 to 31 March 2024







DIRECTORS: P J Wilkinson
G B Le Tocq





REGISTERED OFFICE: 7 Bell Yard
London
England
WC2A 2JR





REGISTERED NUMBER: 14492830 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Diem Scents Ltd (Registered number: 14492830)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 63,532
Tangible assets 5 792
64,324

CURRENT ASSETS
Stocks 54,363
Debtors 6 109,373
Cash at bank 356,632
520,368
CREDITORS
Amounts falling due within one year 7 73,165
NET CURRENT ASSETS 447,203
TOTAL ASSETS LESS CURRENT LIABILITIES 511,527

CAPITAL AND RESERVES
Called up share capital 25
Share premium 800,995
Retained earnings (289,493 )
511,527

Diem Scents Ltd (Registered number: 14492830)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 14 August 2024 and were signed on its behalf by:





G B Le Tocq - Director


Diem Scents Ltd (Registered number: 14492830)

Notes to the Financial Statements
for the Period 18 November 2022 to 31 March 2024

1. STATUTORY INFORMATION

Diem Scents Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when;
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Other intangible assets are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Computer equipment- 33% on cost

Diem Scents Ltd (Registered number: 14492830)

Notes to the Financial Statements - continued
for the Period 18 November 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the period 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 period 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.

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.

Going concern
The directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future due to support from the directors and other shareholders. The financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

Diem Scents Ltd (Registered number: 14492830)

Notes to the Financial Statements - continued
for the Period 18 November 2022 to 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible Development
assets costs Totals
£    £    £   
COST
Additions 2,010 63,097 65,107
At 31 March 2024 2,010 63,097 65,107
AMORTISATION
Amortisation for period 85 1,490 1,575
At 31 March 2024 85 1,490 1,575
NET BOOK VALUE
At 31 March 2024 1,925 61,607 63,532

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 867
At 31 March 2024 867
DEPRECIATION
Charge for period 75
At 31 March 2024 75
NET BOOK VALUE
At 31 March 2024 792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 1,723
Other debtors 107,650
109,373

Diem Scents Ltd (Registered number: 14492830)

Notes to the Financial Statements - continued
for the Period 18 November 2022 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 10,321
Other creditors 62,844
73,165

8. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £295 were payable to the fund at the reporting date.

9. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2024 £ £
At start of period - -
Advanced 68,118 68,118
Repaid (10,078 ) (10,078 )
At end of period 58,040 58,040

Loans from key management are interest free and repayable on demand.