Olfactory Candles Ltd

Olfactory Candles Ltd

OLFACTORY CANDLES LTD - Company Information

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11 March 2022 false No description of principal activity Taxfiler 2022.10.4 SC691981business:PrivateLimitedCompanyLtd2022-03-112022-03-31 SC6919812022-03-10 SC6919812022-03-112022-03-31 SC691981business:AuditExemptWithAccountantsReport2022-03-112022-03-31 SC691981business:FullAccounts2022-03-112022-03-31 SC6919812022-03-31 SC691981business:Director12022-03-112022-03-31 SC691981business:RegisteredOffice2022-03-112022-03-31 SC6919812022-03-10 SC691981core:WithinOneYear2022-03-31 SC691981core:WithinOneYear2022-03-10 SC691981core:RetainedEarningsAccumulatedLosses2022-03-31 SC691981core:RetainedEarningsAccumulatedLosses2022-03-10 SC691981business:SmallEntities2022-03-112022-03-31 SC691981countries:Scotland2022-03-112022-03-31 SC691981core:ComputerEquipment2022-03-112022-03-31 SC691981core:ComputerEquipment2022-03-10 SC691981core:ComputerEquipment2022-03-31 SC691981business:Director112022-03-112022-03-31 SC691981business:Director112022-03-10 SC691981business:Director112022-03-31 SC6919812021-03-112022-03-10 iso4217:GBP xbrli:pure
Company Registration No. SC691981 (Scotland)
Olfactory Candles Ltd Unaudited accounts for the period from 11 March 2022 to 31 March 2022
Olfactory Candles Ltd Unaudited accounts Contents
Page
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Olfactory Candles Ltd Company Information for the period from 11 March 2022 to 31 March 2022
Director
Simone McGown
Company Number
SC691981 (Scotland)
Registered Office
51 Longrow Campbeltown Argyll PA28 6ER SCOTLAND
Accountants
Hannah Fawcett FMAAT Hillcrest Stronvaar Avenue Campbeltown Argyll PA28 6SW
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Olfactory Candles Ltd Statement of financial position as at 31 March 2022
31/03/2022 
10/03/2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
2,189 
2,189 
Current assets
Inventories
24,900 
27,148 
Cash at bank and in hand
16,623 
18,633 
41,523 
45,781 
Creditors: amounts falling due within one year
5
(44,003)
(46,366)
Net current liabilities
(2,480)
(585)
Net (liabilities)/assets
(291)
1,604 
Capital and reserves
Profit and loss account
(291)
1,604 
Shareholders' funds
(291)
1,604 
For the period ending 31 March 2022 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.
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 30 April 2022 and were signed on its behalf by
Simone McGown Director Company Registration No. SC691981
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Olfactory Candles Ltd Notes to the Accounts for the period from 11 March 2022 to 31 March 2022
1
Statutory information
Olfactory Candles Ltd is a private company, limited by shares, registered in Scotland, registration number SC691981. The registered office is 51 Longrow, Campbeltown, Argyll, PA28 6ER, SCOTLAND.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 11 March 2022
2,919 
At 31 March 2022
2,919 
Depreciation
At 11 March 2022
730 
At 31 March 2022
730 
Net book value
At 31 March 2022
2,189 
At 10 March 2022
2,189 
5
Creditors: amounts falling due within one year
31/03/2022 
10/03/2022 
£ 
£ 
Bank loans and overdrafts
5,953 
6,070 
Loans from directors
38,050 
40,296 
44,003 
46,366 
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Olfactory Candles Ltd Notes to the Accounts for the period from 11 March 2022 to 31 March 2022
6
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Simone McGown
Directors Loans
(40,296)
2,246 
- 
(38,050)
(40,296)
2,246 
- 
(38,050)
Director still owed £38,050 from money invested into the business at the start of set up
7
Average number of employees
During the period the average number of employees was 2 (10/03/2022: 2).
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