Company Registration No. 07781376 (England and Wales)
The Olfactory Experience Ltd
Unaudited accounts
for the year ended 30 September 2024
The Olfactory Experience Ltd
Unaudited accounts
Contents
The Olfactory Experience Ltd
Company Information
for the year ended 30 September 2024
Company Number
07781376 (England and Wales)
Registered Office
South Building Somerset House
Strand
London
WC2R 1LA
Accountants
Bromley Consultancy Ltd trading as Bromley Accounting
8 Lilah Mews
Bromley
Kent
BR2 0BZ
The Olfactory Experience Ltd
Statement of financial position
as at 30 September 2024
Cash at bank and in hand
46,412
44,009
Creditors: amounts falling due within one year
(10,827)
(20,378)
Net current assets
36,064
23,631
Called up share capital
1
1
Profit and loss account
36,063
23,630
Shareholders' funds
36,064
23,631
For the year ending 30 September 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 June 2025 and were signed on its behalf by
Elizabeth Ostrom
Director
Company Registration No. 07781376
The Olfactory Experience Ltd
Notes to the Accounts
for the year ended 30 September 2024
The Olfactory Experience Ltd is a private company, limited by shares, registered in England and Wales, registration number 07781376. The registered office is South Building Somerset House, Strand, London, WC2R 1LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
5
Transactions with related parties
Included within creditors due within one year is £7,225 (2023 - £15,158) due to the director. This amount is repayable on demand and is interest free.
6
Average number of employees
During the year the average number of employees was 1 (2023: 1).