Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 12164017 Mr John Tarbet Ms Katy Worthy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12164017 2023-08-31 12164017 2024-08-31 12164017 2023-09-01 2024-08-31 12164017 frs-core:Non-currentFinancialInstruments 2024-08-31 12164017 frs-core:FurnitureFittings 2024-08-31 12164017 frs-core:FurnitureFittings 2023-09-01 2024-08-31 12164017 frs-core:FurnitureFittings 2023-08-31 12164017 frs-core:ShareCapital 2024-08-31 12164017 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 12164017 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12164017 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 12164017 frs-bus:SmallEntities 2023-09-01 2024-08-31 12164017 frs-bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12164017 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12164017 frs-bus:Director1 2023-09-01 2024-08-31 12164017 frs-bus:Director2 2023-09-01 2024-08-31 12164017 frs-countries:EnglandWales 2023-09-01 2024-08-31 12164017 2022-08-31 12164017 2023-08-31 12164017 2022-09-01 2023-08-31 12164017 frs-core:Non-currentFinancialInstruments 2023-08-31 12164017 frs-core:ShareCapital 2023-08-31 12164017 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Olfacto Limited
Financial Statements
For The Year Ended 31 August 2024
Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Olfacto Limited For The Year Ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Olfacto Limited For The Year Ended 31 August 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Olfacto Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Olfacto Limited and state those matters that we have agreed to state to the directors of Olfacto Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Olfacto Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Olfacto Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Olfacto Limited . You consider that Olfacto Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Olfacto Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
22 May 2025
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
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Statement of Financial Position
Registered number: 12164017
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 41 61
41 61
CURRENT ASSETS
Stocks 2,000 15,000
Debtors 9,555 4,801
Cash at bank and in hand 2,713 9,876
14,268 29,677
Creditors: Amounts Falling Due Within One Year (129,258 ) (132,579 )
NET CURRENT ASSETS (LIABILITIES) (114,990 ) (102,902 )
TOTAL ASSETS LESS CURRENT LIABILITIES (114,949 ) (102,841 )
Creditors: Amounts Falling Due After More Than One Year (24,143 ) (29,225 )
NET LIABILITIES (139,092 ) (132,066 )
CAPITAL AND RESERVES
Called up share capital 4 100 100
Income Statement (139,192 ) (132,166 )
SHAREHOLDERS' FUNDS (139,092) (132,066)
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr John Tarbet
Director
22 May 2025
The notes on pages 4 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The company is showing net liabilities as at 31 August 2024. The directors have confirmed that they will continue to support the company financially, to allow it to continue its operations. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & fittings 33% RB
1.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 3 (2023: 3)
3 3
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3. Tangible assets
Fixtures & fittings
£
Cost
As at 1 September 2023 207
As at 31 August 2024 207
Depreciation
As at 1 September 2023 146
Provided during the period 20
As at 31 August 2024 166
Net Book Value
As at 31 August 2024 41
As at 1 September 2023 61
4. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
5. General Information
Olfacto Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12164017 . The registered office is 12 Payton Street, Stratford upon Avon, Warwickshire, CV37 6UA.
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