Diem Scents Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Diem Scents Ltd

Company Information

Director

G B Le Tocq

Registered office

7 Bell Yard London England WC2A 2JR

Registered Number

14492830

Accountants

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

Diem Scents Ltd

(Registration number: 14492830)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	121,207	63,532
Tangible assets	5	506	792
		121,713	64,324
Current assets
Stocks		68,412	54,363
Debtors	6	185,967	109,373
Cash at bank and in hand		211,669	356,632
		466,048	520,368
Creditors: Amounts falling due within one year	7	(136,054)	(73,165)
Net current assets		329,994	447,203
Net assets		451,707	511,527
Capital and reserves
Called up share capital		86	25
Share premium reserve		1,198,383	800,995
Retained earnings		(746,762)	(289,493)
Shareholders' funds		451,707	511,527

Diem Scents Ltd

(Registration number: 14492830)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 December 2025
 

......................................... G B Le Tocq Director

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Bell Yard
London
England
WC2A 2JR

These financial statements were authorised for issue by the director on 24 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Going concern

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

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates
taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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 assets

Tangible 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

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

Asset class	Depreciation method and rate
Computer equipment	33% on cost

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to net realisable value.

The cost of finished goods and work in progress comprises all costs of purchase, direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 5).

4	Intangible assets

	Other intangible assets  £	Development costs  £	Total £
Cost or valuation
At 1 April 2024	2,010	63,097	65,107
Additions internally developed	-	68,488	68,488
At 31 March 2025	2,010	131,585	133,595
Amortisation
At 1 April 2024	85	1,490	1,575
Amortisation charge	201	10,612	10,813
At 31 March 2025	286	12,102	12,388
Carrying amount
At 31 March 2025	1,724	119,483	121,207
At 31 March 2024	1,925	61,607	63,532

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Computer equipment £	Total £
Cost or valuation
At 1 April 2024	867	867
At 31 March 2025	867	867
Depreciation
At 1 April 2024	75	75
Charge for the year	286	286
At 31 March 2025	361	361
Carrying amount
At 31 March 2025	506	506
At 31 March 2024	792	792

6

Debtors

	2025 £	2024 £
Trade debtors	-	1,723
Prepayments	7,811	3,858
Other debtors	178,156	103,792
	185,967	109,373

7

Creditors

Due within one year	Note	2025 £	2024 £
Trade creditors		54,469	10,321
Amounts owed to related parties	9	70,733	58,040
Taxation and social security		4,783	-
Accruals and deferred income		2,903	4,059
Other creditors		3,166	745
		136,054	73,165

 

Diem Scents Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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 £512 (2024 - £295) were payable to the fund at the reporting date.

9	Related party transactions

Loans from related parties

2025	Key management £	Total £
At start of period	58,040	58,040
Advanced	34,254	34,254
Repaid	(21,561)	(21,561)
At end of period	70,733	70,733

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

Terms of loans from related parties

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