Scentworks Solutions Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10544211

SCENTWORKS SOLUTIONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

SCENTWORKS SOLUTIONS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 7

SCENTWORKS SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		17,528		23,614

CURRENT ASSETS

Stocks	6	53,488	46,037
Debtors	7	55,540	40,011
Cash at bank and in hand		34,074	39,882
		----------	----------
		143,102	125,930

CREDITORS: amounts falling due within one year	8	47,675		51,394
		----------		----------
NET CURRENT ASSETS			95,427		74,536
			----------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			112,955		98,150

CREDITORS: amounts falling due after more than one year	9		2,306		7,526

PROVISIONS

Taxation including deferred tax	5,058	5,896
	----------	---------
NET ASSETS	105,591	84,728
	----------	---------

CAPITAL AND RESERVES

Called up share capital	11	1	1
Profit and loss account		105,590	84,727
		----------	---------
SHAREHOLDERS FUNDS		105,591	84,728
		----------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SCENTWORKS SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 12 August 2025 , and are signed on behalf of the board by:

D. P. Thompson

Director

Company registration number: 10544211

SCENTWORKS SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st DECEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 139 Beaconside, South Shields, NE34 7PT, Tyne & Wear.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	10 to 25% straight line

Stocks

Stocks are measured 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 the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).

5. TANGIBLE ASSETS

	Plant & machinery
	£
Cost
At 1st January 2024	118,958
Additions	17,582
Disposals	( 71,429)
	----------
At 31st December 2024	65,111
	----------
Depreciation
At 1st January 2024	95,344
Charge for the year	23,668
Disposals	( 71,429)
	----------
At 31st December 2024	47,583
	----------
Carrying amount
At 31st December 2024	17,528
	----------
At 31st December 2023	23,614
	----------

6. STOCKS

	2024	2023
	£	£
Stock	53,488	46,037
	---------	---------

7. DEBTORS

	2024	2023
	£	£
Trade debtors	53,674	39,829
Prepayments	166	182
Other debtors	1,700	–
	---------	---------
	55,540	40,011
	---------	---------

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loan	5,100	4,950
Accruals and deferred income	3,210	4,751
Corporation tax	10,623	10,418
Social security and other taxes	13,720	12,924
Director loan accounts	15,022	18,351
	---------	---------
	47,675	51,394
	---------	---------

9. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loan	2,306	7,526
	-------	-------

10. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	5,058	5,896
	-------	-------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	5,058	5,896
	-------	-------

11. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

12. RELATED PARTY TRANSACTIONS

A director's loan account processes the transactions between D. P. Thompson and Scentworks Solutions Limited. At the year end the balance on this loan account was £15,022 (2023: £18,351). No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.