IRIS Accounts Production v24.1.9.2 09478447 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094784472023-03-31094784472024-03-31094784472023-04-012024-03-31094784472022-03-31094784472022-04-012023-03-31094784472023-03-3109478447ns15:EnglandWales2023-04-012024-03-3109478447ns14:PoundSterling2023-04-012024-03-3109478447ns10:Director12023-04-012024-03-3109478447ns10:Director22023-04-012024-03-3109478447ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109478447ns10:SmallEntities2023-04-012024-03-3109478447ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109478447ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109478447ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109478447ns10:FullAccounts2023-04-012024-03-3109478447ns10:RegisteredOffice2023-04-012024-03-3109478447ns5:CurrentFinancialInstruments2024-03-3109478447ns5:CurrentFinancialInstruments2023-03-3109478447ns5:ShareCapital2024-03-3109478447ns5:ShareCapital2023-03-3109478447ns5:RetainedEarningsAccumulatedLosses2024-03-3109478447ns5:RetainedEarningsAccumulatedLosses2023-03-3109478447ns5:FurnitureFittings2023-04-012024-03-3109478447ns5:ComputerEquipment2023-04-012024-03-3109478447ns5:FurnitureFittings2023-03-3109478447ns5:ComputerEquipment2023-03-3109478447ns5:FurnitureFittings2024-03-3109478447ns5:ComputerEquipment2024-03-3109478447ns5:FurnitureFittings2023-03-3109478447ns5:ComputerEquipment2023-03-3109478447ns5:CostValuation2023-03-31
REGISTERED NUMBER: 09478447 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

OLVIA LIMITED

OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLVIA LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs D A Cariofilli
S S Mavrovitis





REGISTERED OFFICE: 13 Chaucer Court
Lawn Road
Guildford
Surrey
GU2 4DB





REGISTERED NUMBER: 09478447 (England and Wales)





ACCOUNTANTS: All Rohit Accounting Ltd
115 Northumberland Road
North Harrow
Middlesex
HA2 7RB

OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,471 1,080
Investments 5 2,000 2,000
Investment property 6 705,500 705,500
708,971 708,580

CURRENT ASSETS
Debtors 7 4,297 1,808
Cash at bank 19,822 19,511
24,119 21,319
CREDITORS
Amounts falling due within one year 8 776,004 761,341
NET CURRENT LIABILITIES (751,885 ) (740,022 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(42,914

)

(31,442

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (43,014 ) (31,542 )
SHAREHOLDERS' FUNDS (42,914 ) (31,442 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 21 August 2024 and were signed on its behalf by:




S S Mavrovitis - Director



Mrs D A Cariofilli - Director


OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Olvia 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 represents gross rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Going concern
The company made a loss before taxation of £11,472 for the year and had net liabilities of £42,914 at that date.

On the basis that the directors have undertaken not to seek full repayment of their loan and will provide
additional support if necessary to meet the company's liabilities as and when they fall due, the accounts have been prepared on a going concern basis

OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 1,920 - 1,920
Additions - 881 881
At 31 March 2024 1,920 881 2,801
DEPRECIATION
At 1 April 2023 840 - 840
Charge for year 270 220 490
At 31 March 2024 1,110 220 1,330
NET BOOK VALUE
At 31 March 2024 810 661 1,471
At 31 March 2023 1,080 - 1,080

5. FIXED ASSET INVESTMENTS
Own
shares
£   
COST
At 1 April 2023
and 31 March 2024 2,000
NET BOOK VALUE
At 31 March 2024 2,000
At 31 March 2023 2,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 705,500
NET BOOK VALUE
At 31 March 2024 705,500
At 31 March 2023 705,500

Directors are of the opinion that the value of the investment properties at the year end were as stated above.

OLVIA LIMITED (REGISTERED NUMBER: 09478447)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,297 1,808

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 1,220 1,215
Directors' current accounts 774,784 760,126
776,004 761,341

9. RELATED PARTY DISCLOSURES

A company in which Mr S Mavrovitis is a shareholder and the amount due to related party at the balance sheet date was £694,638 (2023- £693,111).

A company in which Mrs D A Cariofilli is a shareholder and the amount due to related party at the balance sheet date was £78,432 (2023- £65,299).

A company in which Mr F Mavrovitis is a shareholder and the amount due to related party at the balance sheet date was £1,715.(2023 -£1,715).