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DIFFUSER LIMITED

Registered Number
14444877
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2023

DIFFUSER LIMITED
Company Information
for the period from 26 October 2022 to 31 October 2023

Director

A Iveson

Registered Address

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Registered Number

14444877 (England and Wales)
DIFFUSER LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

£

£

Current assets
Debtors31,855
Cash at bank and on hand851
2,706
Creditors amounts falling due within one year4(398,018)
Net current assets (liabilities)(395,312)
Total assets less current liabilities(395,312)
Net assets(395,312)
Capital and reserves
Called up share capital1
Profit and loss account(395,313)
Shareholders' funds(395,312)
The financial statements were approved and authorised for issue by the Director on 15 January 2025, and are signed on its behalf by:
A Iveson
Director
Registered Company No. 14444877
DIFFUSER LIMITED
Notes to the Financial Statements
for the period ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company was incorporated on 26 October 2022 and commenced trading on that day. These financial statements are for the period from the incorporation date to the 31 October 2023.
Statement of compliance
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.
Basis of preparation
The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in pound sterling (£), which is the company's functional currency, and figures are rounded to the nearest whole pound.
Going concern
The financial statements have been prepared on the going concern basis. The company made a profit during the year and the directors believe that the company has sufficient financial resources to meet its obligations as they become due, and that the company can continue in operational existence for a period of at least 12 months from the statement of financial position date. Consequently, the directors have concluded that it is appropriate to prepare the annual financial statements on a going concern basis.
Revenue from rendering of services
The company was still in its development phase during the reporting period and as such, it has not recognised any revenue for the period ended 31 October 2023.
Operating leases
Rentals payable under operating leases are charged to the profit or loss account on a straight-line basis over the period of the lease.
Foreign currency translation
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement.
Current taxation
Taxation for the year comprises current 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 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 statement of financial position date.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees

2023
Average number of employees during the year1
3.Debtors: amounts due within one year

2023

£
Other debtors1,855
Total1,855
4.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables11,686
Other creditors386,332
Total398,018