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OLIA CONSTRUCTION LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023






OLIA CONSTRUCTION LTD (REGISTERED NUMBER: 06663519)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OLIA CONSTRUCTION LTD

COMPANY INFORMATION
for the Year Ended 31st August 2023







DIRECTOR: Mr Justin Marl





SECRETARY: Mrs Katherine Elizabeth Marl





REGISTERED OFFICE: Liverpool Road Studios
Suits 3 and 4
113 Liverpool Road
Crosby
Merseyside
L23 5TD





REGISTERED NUMBER: 06663519 (England and Wales)





ACCOUNTANTS: Garner & Associates Ltd
Liverpool Road Studios
Suites 3 & 4
113 Liverpool Road
Crosby
Merseyside
L23 5TD

OLIA CONSTRUCTION LTD (REGISTERED NUMBER: 06663519)

BALANCE SHEET
31st August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,800 13,070

CURRENT ASSETS
Stocks 9,040 30,000
Debtors 5 75,866 70,703
Cash at bank 12,631 240
97,537 100,943
CREDITORS
Amounts falling due within one year 6 91,667 111,890
NET CURRENT ASSETS/(LIABILITIES) 5,870 (10,947 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,670

2,123

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 15,570 2,023
SHAREHOLDERS' FUNDS 15,670 2,123

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

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

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th May 2024 and were signed by:





Mr Justin Marl - Director


OLIA CONSTRUCTION LTD (REGISTERED NUMBER: 06663519)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st August 2023

1. STATUTORY INFORMATION

Olia Construction 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

OLIA CONSTRUCTION LTD (REGISTERED NUMBER: 06663519)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st September 2022
and 31st August 2023 128,699 1,679 5,191 135,569
DEPRECIATION
At 1st September 2022 116,859 1,279 4,361 122,499
Charge for year 2,960 100 210 3,270
At 31st August 2023 119,819 1,379 4,571 125,769
NET BOOK VALUE
At 31st August 2023 8,880 300 620 9,800
At 31st August 2022 11,840 400 830 13,070

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 4,528
Other debtors 75,866 66,175
75,866 70,703

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 39,891 65,025
Trade creditors 386 1,596
Taxation and social security 48,599 42,429
Other creditors 2,791 2,840
91,667 111,890

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st August 2023 and the period ended 31st August 2022:

2023 2022
£    £   
Mr Justin Marl
Balance outstanding at start of year 56,559 69,577
Amounts advanced 69,767 70,115
Amounts repaid (80,151 ) (83,133 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,175 56,559