Registered number
05909006
HENRY OLIVER LTD
Filleted Accounts
31 May 2023
HENRY OLIVER LTD
Registered number: 05909006
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 8,710,000 9,130,809
Current assets
Debtors 3 21,603 18,145
Cash at bank and in hand 120,359 202,828
141,962 220,973
Creditors: amounts falling due within one year 4 (64,762) (151,977)
Net current assets 77,200 68,996
Total assets less current liabilities 8,787,200 9,199,805
Creditors: amounts falling due after more than one year 5 (4,195,756) (4,195,756)
Provisions for liabilities (652,969) (733,106)
Net assets 3,938,475 4,270,943
Capital and reserves
Called up share capital 1,071,101 1,071,101
Non-distributable reserve 7 2,784,045 3,123,908
Profit and loss account 83,329 75,934
Shareholders' funds 3,938,475 4,270,943
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Peevers
Director
Approved by the board on 31 January 2024
HENRY OLIVER LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
The Land and buildings are in the form of property and are being treated as investment property. They have been revalued as at 31/05/2022 using readily available market data, the director of the company has confirmed that these valuations are appropriate.
3 Debtors 2023 2022
£ £
Trade debtors (4,940) (5,670)
Other debtors 26,543 23,815
21,603 18,145
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 44,628 28,711
Taxation and social security costs 17,364 23,168
Other creditors 2,770 100,098
64,762 151,977
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans and mortgages 4,195,756 4,195,756
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 4,195,756 4,195,756
Secured bank loans are in the form of mortages on the properties held, interest only payments ar being made on these.
7 Non-distributable reserve 2023 2022
£ £
At 1 June 2022 3,123,908 2,678,408
(Loss)/gain on revaluation of land and buildings (420,000) 550,000
Deferred taxation arising on the revaluation of land and buildings 80,137 (104,500)
At 31 May 2023 2,784,045 3,123,908
8 Other information
HENRY OLIVER LTD is a private company limited by shares and incorporated in England. Its registered office is:
Orion House, Axis 4/5
Woodlands, Bradley Stoke
Bristol
BS32 6JT
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