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REGISTERED NUMBER: SC401497 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Olympia Pets Ltd

Olympia Pets Ltd (Registered number: SC401497)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Olympia Pets Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Ms S Laird





REGISTERED OFFICE: Unit 3
Kpp Chartered Accountants Morris Park
37 Rosyth Road
Glasgow
G5 0YE





REGISTERED NUMBER: SC401497 (Scotland)





ACCOUNTANTS: Key Professional Partnership Ltd
Unit 3
Kpp Chartered Accountants Morris Park
37 Rosyth Road
Glasgow
G5 0YE

Olympia Pets Ltd (Registered number: SC401497)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 127 169

CURRENT ASSETS
Stocks 6,392 6,392
Cash at bank and in hand 33,979 55,874
40,371 62,266
CREDITORS
Amounts falling due within one year 5 39,121 44,444
NET CURRENT ASSETS 1,250 17,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,377

17,991

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,277 17,891
SHAREHOLDERS' FUNDS 1,377 17,991

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

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

The director acknowledges her 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 April 2024 and were signed by:





Ms S Laird - Director


Olympia Pets Ltd (Registered number: SC401497)

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

1. STATUTORY INFORMATION

Olympia Pets Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation ad accumulated impairment losses.

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

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


Olympia Pets Ltd (Registered number: SC401497)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised is the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity

Current or deferred tax assets and liabilities are not discounted.

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

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 4,000
DEPRECIATION
At 1 August 2022 3,831
Charge for year 42
At 31 July 2023 3,873
NET BOOK VALUE
At 31 July 2023 127
At 31 July 2022 169

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Taxation and social security 1,954 9,299
Other creditors 37,167 35,145
39,121 44,444