Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-3112022-02-01falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12418131 2022-02-01 2023-01-31 12418131 2021-02-01 2022-01-31 12418131 2023-01-31 12418131 2022-01-31 12418131 c:Director1 2022-02-01 2023-01-31 12418131 d:MotorVehicles 2022-02-01 2023-01-31 12418131 d:MotorVehicles 2023-01-31 12418131 d:MotorVehicles 2022-01-31 12418131 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12418131 d:OfficeEquipment 2022-02-01 2023-01-31 12418131 d:OfficeEquipment 2023-01-31 12418131 d:OfficeEquipment 2022-01-31 12418131 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12418131 d:ComputerEquipment 2022-02-01 2023-01-31 12418131 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12418131 d:CurrentFinancialInstruments 2023-01-31 12418131 d:CurrentFinancialInstruments 2022-01-31 12418131 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12418131 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 12418131 d:ShareCapital 2023-01-31 12418131 d:ShareCapital 2022-01-31 12418131 d:RetainedEarningsAccumulatedLosses 2023-01-31 12418131 d:RetainedEarningsAccumulatedLosses 2022-01-31 12418131 c:FRS102 2022-02-01 2023-01-31 12418131 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12418131 c:FullAccounts 2022-02-01 2023-01-31 12418131 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12418131 2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 12418131









OLSON-WELSH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
OLSON-WELSH LIMITED
REGISTERED NUMBER: 12418131

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
80,829
420

  
80,829
420

Current assets
  

Debtors: amounts falling due within one year
 5 
110,915
118,054

Cash at bank and in hand
 6 
125,271
194,145

  
236,186
312,199

Creditors: amounts falling due within one year
 7 
(47,508)
(100,736)

Net current assets
  
 
 
188,678
 
 
211,463

Total assets less current liabilities
  
269,507
211,883

  

Net assets
  
269,507
211,883


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
269,407
211,783

  
269,507
211,883


Page 1

 
OLSON-WELSH LIMITED
REGISTERED NUMBER: 12418131
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
G V Olson-Welsh
Director

Date: 19 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
OLSON-WELSH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Olson-Welsh Limited is a private company, limited by shares. The company is incorporated in England and Wales and the address of the registered office is 44 Salisbury Road, St. Margarets Bay, Dover, CT15 6DP. The company registered number is 12418131.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
OLSON-WELSH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
OLSON-WELSH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2022
-
1,235
1,235


Additions
87,098
1,317
88,415



At 31 January 2023

87,098
2,552
89,650



Depreciation


At 1 February 2022
-
815
815


Charge for the year on owned assets
7,416
590
8,006



At 31 January 2023

7,416
1,405
8,821



Net book value



At 31 January 2023
79,682
1,147
80,829



At 31 January 2022
-
420
420

Page 5

 
OLSON-WELSH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
55,915
76,718

Other debtors
55,000
41,336

110,915
118,054



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
125,271
194,143

125,271
194,143



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
25,345
60,368

Other taxation and social security
20,008
34,510

Other creditors
655
-

Accruals and deferred income
1,500
5,858

47,508
100,736


 
Page 6