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REGISTERED NUMBER: 06252271 (England and Wales)








Unaudited Financial Statements

For The Year Ended 30 June 2024

for

Olton Bedrooms Limited

Olton Bedrooms Limited (Registered number: 06252271)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Olton Bedrooms Limited (Registered number: 06252271)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 146,070 89,567

CURRENT ASSETS
Stocks 53,336 62,199
Debtors 5 8,502 23,898
Cash at bank and in hand 171,263 139,385
233,101 225,482
CREDITORS
Amounts falling due within one year 6 146,636 136,059
NET CURRENT ASSETS 86,465 89,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,535

178,990

CREDITORS
Amounts falling due after more than one
year

7

(45,879

)

(13,017

)

PROVISIONS FOR LIABILITIES (22,464 ) (13,442 )
NET ASSETS 164,192 152,531

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,092 152,431
SHAREHOLDERS' FUNDS 164,192 152,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Olton Bedrooms Limited (Registered number: 06252271)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 1 October 2024 and were signed on its behalf by:




Mrs S K Hubert - Director



S N Hubert - Director


Olton Bedrooms Limited (Registered number: 06252271)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Olton Bedrooms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06252271

Registered office: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

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 represents net invoiced sales of goods and services excluding Value Added Tax. Turnover is recognised when the goods are physically delivered to the customer.

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 etc - 25% on reducing balance and straight line over the term of a lease.

Stocks
Stock and work in progress is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

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.

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.

Olton Bedrooms Limited (Registered number: 06252271)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 250,741
Additions 89,224
Disposals (26,150 )
At 30 June 2024 313,815
DEPRECIATION
At 1 July 2023 161,174
Charge for year 26,534
Eliminated on disposal (19,963 )
At 30 June 2024 167,745
NET BOOK VALUE
At 30 June 2024 146,070
At 30 June 2023 89,567

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

Plant and
machinery
etc
£   
COST
At 1 July 2023 14,000
Additions 72,875
Disposals (14,000 )
At 30 June 2024 72,875
DEPRECIATION
At 1 July 2023 8,622
Charge for year 3,525
Eliminated on disposal (9,453 )
At 30 June 2024 2,694
NET BOOK VALUE
At 30 June 2024 70,181
At 30 June 2023 5,378

Olton Bedrooms Limited (Registered number: 06252271)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 2,385 10,440
Other debtors 6,117 13,458
8,502 23,898

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 30,107 13,300
Trade creditors 32,789 25,710
Taxation and social security 39,689 40,927
Other creditors 44,051 56,122
146,636 136,059

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 45,879 13,017

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 75,986 26,317

9. OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £651,298(2023 - £663,134).