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REGISTERED NUMBER: 09640918 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Olseen Roofing Ltd

Olseen Roofing Ltd (Registered number: 09640918)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Olseen Roofing Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S Olseen





SECRETARY: Mrs J M Olseen





REGISTERED OFFICE: Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 09640918 (England and Wales)





ACCOUNTANTS: Philip T. Chave & Co
Belfry House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

Olseen Roofing Ltd (Registered number: 09640918)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 27,134 36,039
27,134 36,039

CURRENT ASSETS
Debtors 70,034 14,153
Cash at bank 535,621 319,224
605,655 333,377
CREDITORS
Amounts falling due within one year 318,162 210,561
NET CURRENT ASSETS 287,493 122,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,627

158,855

CREDITORS
Amounts falling due after more than one year (4,805 ) (7,250 )

PROVISIONS FOR LIABILITIES 6 (6,784 ) (6,847 )
NET ASSETS 303,038 144,758

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 303,037 144,757
SHAREHOLDERS' FUNDS 303,038 144,758

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Olseen Roofing Ltd (Registered number: 09640918)

Abridged Balance Sheet - continued
31 December 2023



The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





S Olseen - Director


Olseen Roofing Ltd (Registered number: 09640918)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Olseen Roofing 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance
Motor vehicles - 25% 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Olseen Roofing Ltd (Registered number: 09640918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 1 January 2023
and 31 December 2023 71,679
DEPRECIATION
At 1 January 2023 35,640
Charge for year 8,905
At 31 December 2023 44,545
NET BOOK VALUE
At 31 December 2023 27,134
At 31 December 2022 36,039

Olseen Roofing Ltd (Registered number: 09640918)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023
and 31 December 2023 21,000
DEPRECIATION
At 1 January 2023 5,250
Charge for year 3,938
At 31 December 2023 9,188
NET BOOK VALUE
At 31 December 2023 11,812
At 31 December 2022 15,750

6. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 6,784 6,847

Deferred
tax
£   
Balance at 1 January 2023 6,847
Unused amounts reversed during year (63 )
Balance at 31 December 2023 6,784

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1