Registered number
12988365
OLOVO LTD
Filleted Accounts
30 November 2023
OLOVO LTD
Registered number: 12988365
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 727,281 727,281
Current assets
Debtors 4 - 400
Cash at bank and in hand 18,064 11,080
18,064 11,480
Creditors: amounts falling due within one year 5 (298,663) (306,655)
Net current liabilities (280,599) (295,175)
Total assets less current liabilities 446,682 432,106
Creditors: amounts falling due after more than one year 6 (440,666) (426,962)
Net assets 6,016 5,144
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,916 5,044
Shareholders' funds 6,016 5,144
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Yelena Zargaryan
Director
Approved by the board on 30 August 2024
OLOVO LTD
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 727,281
At 30 November 2023 727,281
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 727,281
At 30 November 2022 727,281
4 Debtors 2023 2022
£ £
Trade debtors - 400
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,503 5,927
Taxation and social security costs 242 1,183
Other creditors 289,918 299,545
298,663 306,655
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 440,666 426,962
7 Other information
OLOVO LTD is a private company limited by shares and incorporated in England. Its registered office is:
31a-31c Grand Parade
Green Lanes
London
UK
N4 1LG
OLOVO LTD 12988365 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Mrs Yelena Zargaryan No description of principal activity 12988365 2021-12-01 2022-11-30 12988365 core:WithinOneYear 2022-11-30 12988365 core:AfterOneYear 2022-11-30 12988365 core:ShareCapital 2022-11-30 12988365 core:RetainedEarningsAccumulatedLosses 2022-11-30 12988365 2022-12-01 2023-11-30 12988365 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 12988365 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 12988365 bus:Director40 2022-12-01 2023-11-30 12988365 1 2022-12-01 2023-11-30 12988365 2 2022-12-01 2023-11-30 12988365 countries:England 2022-12-01 2023-11-30 12988365 bus:FRS102 2022-12-01 2023-11-30 12988365 bus:FilletedAccounts 2022-12-01 2023-11-30 12988365 2023-11-30 12988365 core:WithinOneYear 2023-11-30 12988365 core:AfterOneYear 2023-11-30 12988365 core:ShareCapital 2023-11-30 12988365 core:RetainedEarningsAccumulatedLosses 2023-11-30 12988365 core:LandBuildings 2023-11-30 12988365 2022-11-30 12988365 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure