ALLENS OF OLNEY LIMITED

Company Registration Number:
00416513 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

ALLENS OF OLNEY LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 9

ALLENS OF OLNEY LIMITED

Company Information

for the Period Ended 31 January 2024




Director: Mrs J C Cox
Registered office: 5/6
Market Place
Olney
Bucks.
MK46 4EA
Company Registration Number: 00416513 (England and Wales)

ALLENS OF OLNEY LIMITED

Balance sheet

As at 31 January 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 128,983 127,605
Total fixed assets: 128,983 127,605
Current assets
Stocks: 126,845 109,885
Debtors: 7,855 16,250
Cash at bank and in hand: 246,766 269,462
Total current assets: 381,466 395,597
Creditors: amounts falling due within one year: ( 42,360 ) ( 77,211 )
Net current assets (liabilities): 339,106 318,386
Total assets less current liabilities: 468,089 445,991
Total net assets (liabilities): 468,089 445,991

The notes form part of these financial statements

ALLENS OF OLNEY LIMITED

Balance sheet continued

As at 31 January 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 10,000 10,000
Revaluation reserve: 5 5,918 5,918
Profit and loss account: 452,171 430,073
Shareholders funds: 468,089 445,991

For the year ending 31 January 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 9 October 2024
And Signed On Behalf Of The Board By:

Name: Mrs J C Cox
Status: Director

The notes form part of these financial statements

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

    Tangible fixed assets depreciation policy

    Depreciation is provided by the company to write off the cost or valuation, less the estimated residual value, of it's tangible fixed assets, other than freehold land and buildings, by equal instalments over their useful economic lives as follows;
    Fixtures and fittings 10%
    Motor vehicles 25%
    Computer equipment 25%

    No depreciation is provided on freehold buildings in view of the small amount at which they stand in the company's books. The director considers that any depreciation would not be a material amount.

    Valuation information and policy

    Stocks
    Stocks of goods for resale are stated at the lower of cost and net estimated selling price, after making due allowance for obsolete and slow moving items.

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 7 7

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 3. Off balance sheet disclosure

    No

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Tangible Assets

Total
Cost £
At 01 February 2023 134,399
Additions 5,394
Disposals (904)
Revaluations -
Transfers -
At 31 January 2024 138,889
Depreciation
At 01 February 2023 6,794
Charge for year 4,016
On disposals (904)
Other adjustments -
At 31 January 2024 9,906
Net book value
At 31 January 2024 128,983
At 31 January 2023 127,605

The figures stated above for cost or valuation, include the £10,000 land and buildings revaluation in 1968 which gave rise to the £5,918 revaluation reserve.

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Revaluation reserve


2024
£
Balance at 01 February 2023 5,918
Surplus or deficit after revaluation 0
Balance at 31 January 2024 5,918

ALLENS OF OLNEY LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

6.1.Related party disclosures

Name of related party: Mrs J C Cox
Description of relationship:
Director and Shareholder
Description of the transaction:
Included in creditors due within one year is an amount of £9,726 (2023: £16,032) owed to the director, Mrs J C Cox. This account charges no interest, is unsecured and is repayable on demand.
Balance at 01 February 2023 16,032
Balance at 31 January 2024 9,726