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REGISTERED NUMBER: 11679242 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

K Olaf Ltd

K Olaf Ltd (Registered number: 11679242)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


K Olaf Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Ms S J Normandale





REGISTERED OFFICE: Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX





REGISTERED NUMBER: 11679242 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

K Olaf Ltd (Registered number: 11679242)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,905 59,186

CURRENT ASSETS
Debtors 5 374 264
Cash at bank 46,439 61,474
46,813 61,738
CREDITORS
Amounts falling due within one year 6 82,554 103,509
NET CURRENT LIABILITIES (35,741 ) (41,771 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,164

17,415

PROVISIONS FOR LIABILITIES 92 145
NET ASSETS 23,072 17,270

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 23,071 17,269
SHAREHOLDERS' FUNDS 23,072 17,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:




Ms S J Normandale - Director


K Olaf Ltd (Registered number: 11679242)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

K Olaf Ltd 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 etc - 33% on cost and 15% on reducing balance

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 1 (2022 - 1 ) .

K Olaf Ltd (Registered number: 11679242)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 58,423 2,421 60,844
DEPRECIATION
At 1 December 2022 - 1,658 1,658
Charge for year - 281 281
At 30 November 2023 - 1,939 1,939
NET BOOK VALUE
At 30 November 2023 58,423 482 58,905
At 30 November 2022 58,423 763 59,186

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 374 264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 283 109
Taxation and social security 1,414 985
Other creditors 80,857 102,415
82,554 103,509