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REGISTERED NUMBER: 03828554 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Olver Electrical Contractors Limited

Olver Electrical Contractors Limited (Registered number: 03828554)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Olver Electrical Contractors Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: A Danvers





REGISTERED OFFICE: Unit 42
Beeching Park Trading Estate
Kelly Bray
Callington
Cornwall
PL17 8QS





REGISTERED NUMBER: 03828554 (England and Wales)





ACCOUNTANTS: Philip Coad
Accountancy and Taxation Services
Daromaba House
Clemo Road
Liskeard
Cornwall
PL14 3XA

Olver Electrical Contractors Limited (Registered number: 03828554)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,135 32,876

CURRENT ASSETS
Stocks 45,091 39,533
Debtors 5 103,781 80,711
Cash at bank 113,443 129,908
262,315 250,152
CREDITORS
Amounts falling due within one year 6 76,269 119,220
NET CURRENT ASSETS 186,046 130,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,181

163,808

PROVISIONS FOR LIABILITIES 1,913 2,053
NET ASSETS 216,268 161,755

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 216,266 161,753
SHAREHOLDERS' FUNDS 216,268 161,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 March 2024 and were signed by:



A Danvers - Director


Olver Electrical Contractors Limited (Registered number: 03828554)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Olver Electrical Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

Olver Electrical Contractors Limited (Registered number: 03828554)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 22,069 19,825 9,360 95,092 146,346
Additions - 830 - - 830
At 31 August 2023 22,069 20,655 9,360 95,092 147,176
DEPRECIATION
At 1 September 2022 - 14,711 7,739 91,020 113,470
Charge for year - 595 162 814 1,571
At 31 August 2023 - 15,306 7,901 91,834 115,041
NET BOOK VALUE
At 31 August 2023 22,069 5,349 1,459 3,258 32,135
At 31 August 2022 22,069 5,114 1,621 4,072 32,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 103,781 79,701
Other debtors - 1,010
103,781 80,711

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 114 28,114
Trade creditors 40,963 34,718
Taxation and social security 30,703 25,586
Other creditors 4,489 30,802
76,269 119,220