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Company Registration No. 08336086 (England and Wales)
OLIVE INTEGRATED SYSTEMS LIMITED Unaudited accounts for the year ended 31 December 2023
OLIVE INTEGRATED SYSTEMS LIMITED Company Information for the year ended 31 December 2023
Director
Olumide Olubunmi Abiona
Company Number
08336086 (England and Wales)
Registered Office
13 Plantation Road Erith Kent DA8 2JB
Accountants
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon Croydon CR2 6EA
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OLIVE INTEGRATED SYSTEMS LIMITED Accountants' report
Accountants' report to the director of OLIVE INTEGRATED SYSTEMS LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OLIVE INTEGRATED SYSTEMS LIMITED for the year ended 31 December 2023 as set out on pages 4 - 6 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of OLIVE INTEGRATED SYSTEMS LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of OLIVE INTEGRATED SYSTEMS LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OLIVE INTEGRATED SYSTEMS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OLIVE INTEGRATED SYSTEMS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of OLIVE INTEGRATED SYSTEMS LIMITED. You consider that OLIVE INTEGRATED SYSTEMS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of OLIVE INTEGRATED SYSTEMS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
AL Accounting Solutions Limited Chartered Certified Accountants 21A Brighton Road South Croydon Croydon CR2 6EA 19 March 2024
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OLIVE INTEGRATED SYSTEMS LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,206 
2,690 
Current assets
Debtors
27,882 
39,057 
Cash at bank and in hand
19 
104 
27,901 
39,161 
Creditors: amounts falling due within one year
(216)
(210)
Net current assets
27,685 
38,951 
Total assets less current liabilities
29,891 
41,641 
Creditors: amounts falling due after more than one year
(30,676)
(41,624)
Net (liabilities)/assets
(785)
17 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(795)
7 
Shareholders' funds
(785)
17 
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2024 and were signed on its behalf by
Olumide Olubunmi Abiona Director Company Registration No. 08336086
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OLIVE INTEGRATED SYSTEMS LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
OLIVE INTEGRATED SYSTEMS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08336086. The registered office is 13 Plantation Road, Erith, Kent, DA8 2JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18%
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
8,710 
At 31 December 2023
8,710 
Depreciation
At 1 January 2023
6,020 
Charge for the year
484 
At 31 December 2023
6,504 
Net book value
At 31 December 2023
2,206 
At 31 December 2022
2,690 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
27,882 
39,057 
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OLIVE INTEGRATED SYSTEMS LIMITED Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Accruals
216 
210 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
30,676 
41,624 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Olumide Olubunmi Abiona
Interest free loan
39,057 
27,882 
39,057 
27,882 
39,057 
27,882 
39,057 
27,882 
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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