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COMPANY REGISTRATION NUMBER: 09220873
Oliver's Wharf Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Oliver's Wharf Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Current assets
Debtors
5
148,648
197,828
Cash at bank and in hand
4,835
8,181
----------
----------
153,483
206,009
Creditors: amounts falling due within one year
6
53,041
91,450
----------
----------
Net current assets
100,442
114,559
----------
----------
Total assets less current liabilities
100,442
114,559
Creditors: amounts falling due after more than one year
7
14,667
25,065
----------
----------
Net assets
85,775
89,494
----------
----------
Capital and reserves
Called up share capital
8
436,668
436,668
Profit and loss account
( 350,893)
( 347,174)
----------
----------
Shareholders funds
85,775
89,494
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Oliver's Wharf Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
P Aarosin M Kirby
Director Director
Company registration number: 09220873
Oliver's Wharf Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stone House, 56 North Street, Goole, DN14 5RA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1 A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(d) Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(e) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
103,312
138,568
Other debtors
45,336
59,260
----------
----------
148,648
197,828
----------
----------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,333
9,934
Trade creditors
13,034
10,409
Corporation tax
16
16
Social security and other taxes
22,187
68,562
Other creditors
7,471
2,529
--------
--------
53,041
91,450
--------
--------
The bank loan is secured by fixed and floating charges over the company assets.
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
14,667
25,065
--------
--------
The bank loan is secured by fixed and floating charges over the company assets.
8. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
436,668
436,668
436,668
436,668
----------
----------
----------
----------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
436,668
436,668
436,668
436,668
----------
----------
----------
----------
9. Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.
10. Controlling party
For the entire period, the parent company was Port Invest Limited a company whose registered office address is Stone House, 56 North Street, Goole, DN14 5RA