17 May 2022 v2024.4.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetruetrueNo description of principal activity0falsexbrli:purexbrli:sharesiso4217:GBP141114342022-05-172023-05-31141114342023-05-3114111434core:ShareCapital2023-05-3114111434bus:Director12022-05-172023-05-3114111434bus:RegisteredOffice2022-05-172023-05-311411143412022-05-172023-05-3114111434countries:EnglandWales2022-05-172023-05-3114111434bus:AuditExemptWithAccountantsReport2022-05-172023-05-3114111434bus:PrivateLimitedCompanyLtd2022-05-172023-05-3114111434bus:SmallEntities2022-05-172023-05-3114111434bus:FullAccounts2022-05-172023-05-31
Company registration number:
14111434
J.Olsen Homes Limited
Unaudited Filleted Financial Statements for the period ended
31 May 2023
J.Olsen Homes Limited
Report of the Accountant to the director of J.Olsen Homes Limited
Period ended
31 May 2023
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the period ended
31 May 2023
.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting period. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
XNM Accountancy Limited
15 Berristow Grange
Sutton-in-Ashfield
Nottinghamshire
NG17 1LU
United Kingdom
Date:
12 February 2024
J.Olsen Homes Limited
Statement of Financial Position
31 May 2023
31 May 2023
Note£
Current assets  
Debtors 5
10
 
Net current assets
10
 
Total assets less current liabilities 10  
Capital and reserves  
Called up share capital
10
 
Profit and loss account -  
Shareholders funds
10
 
For the period ending
31 May 2023
, 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 financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
These
financial statements
were approved by the board of directors and authorised for issue on
12 February 2024
, and are signed on behalf of the board by:
J Olsen
Director
Company registration number:
14111434
J.Olsen Homes Limited
Notes to the Financial Statements
Period ended
31 May 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
C/O XNM Accountancy Limited
,
15 Berristow Grange
,
Sutton-In-Ashfield
,
Nottingham
,
NG17 1LU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was Nil.

5 Debtors

31 May 2023
£
Other debtors
10