ALLENS OF OLNEY LIMITED

Company Registration Number:
00416513 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2023

Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

ALLENS OF OLNEY LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ALLENS OF OLNEY LIMITED

Company Information

for the Period Ended 31 January 2023




Director: Mrs J C Cox
Registered office: 5/6
Market Place
Olney
Bucks.
MK46 4EA
Company Registration Number: 00416513 (England and Wales)

ALLENS OF OLNEY LIMITED

Balance sheet

As at 31 January 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 127,605 120,037
Total fixed assets: 127,605 120,037
Current assets
Stocks: 109,885 72,632
Debtors: 16,250 3,858
Cash at bank and in hand: 269,462 272,848
Total current assets: 395,597 349,338
Creditors: amounts falling due within one year: ( 77,211 ) ( 63,857 )
Net current assets (liabilities): 318,386 285,481
Total assets less current liabilities: 445,991 405,518
Total net assets (liabilities): 445,991 405,518

The notes form part of these financial statements

ALLENS OF OLNEY LIMITED

Balance sheet continued

As at 31 January 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 10,000 10,000
Revaluation reserve: 5 5,918 5,918
Profit and loss account: 430,073 389,600
Shareholders funds: 445,991 405,518

For the year ending 31 January 2023 the company was entitled to exemption 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 directors acknowledge their 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 this accounting period 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.

This report was approved by the board of directors on 23 October 2023
And Signed On Behalf Of The Board By:

Name: Mrs J C Cox
Status: Director

The notes form part of these financial statements

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

    Tangible fixed assets depreciation policy

    Depreciation is provided by the Company to write off the cost or valuation, less the estimated residual value, of its tangible fixed assets, other than freehold land and buildings, by equal annual instalments over their useful economic lives, as follows.

    Fixtures and fittings 10%
    Motor vehicles 25%
    Computer equipment 25%

    No depreciation is provided on freehold buildings in view of the small amount at which they stand in the company’s books. The directors consider that any depreciation would not be a material amount.

    Valuation information and policy

    Stocks

    Stocks of goods for resale are stated at the lower of cost and net estimated selling price less selling costs, after making due allowance for obsolete and slow moving items.

    Other accounting policies

    Contribution to Pension Schemes The Company operates two defined contribution pension schemes. Contributions are charged to the profit and loss account in respect of the accounting period for which they are payable to the schemes. Deferred Taxation Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes.

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 7 7

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

  • 3. Off balance sheet disclosure

    No

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Tangible Assets

Total
Cost £
At 01 February 2022 131,546
Additions 11,135
Disposals (8,282)
Revaluations 0
Transfers 0
At 31 January 2023 134,399
Depreciation
At 01 February 2022 11,509
Charge for year 3,567
On disposals (8,282)
Other adjustments 0
At 31 January 2023 6,794
Net book value
At 31 January 2023 127,605
At 31 January 2022 120,037

The figures stated above for cost or valuation, include the £10,000 land and buildings revaluation in 1968 which gave rise to the £5,918 revaluation reserve.


ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Revaluation reserve


2023
£
Balance at 01 February 2022 5,918
Surplus or deficit after revaluation 0
Balance at 31 January 2023 5,918

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

6.1.Related party disclosures

Name of related party: Mrs J C Cox
Description of relationship:
Director and Shareholder
Description of the transaction:
Included in creditors are amounts owed to the director by the Company on her current account totalling £16,032 (2022 £22,179). This account charges no interest, is unsecured and is repayable on demand.
Balance at 01 February 2022 22,179
Balance at 31 January 2023 16,032