Registered number
08065375
Olizzy Limited
Filleted Accounts
5 April 2024
Olizzy Limited
Registered number: 08065375
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 320,099 350,615
Current assets
Cash at bank and in hand 2,156 7,372
Creditors: amounts falling due within one year 5 (225,621) (225,687)
Net current liabilities (223,465) (218,315)
Total assets less current liabilities 96,634 132,300
Creditors: amounts falling due after more than one year 6 (48,171) (62,293)
Net assets 48,463 70,007
Capital and reserves
Called up share capital 100 100
Profit and loss account 48,363 69,907
Shareholders' funds 48,463 70,007
The directors are 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 directors acknowledge their 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.
S Hiles
Director
Approved by the board on 18 October 2024
Olizzy Limited
Notes to the Accounts
for the year ended 5 April 2024
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).
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 6 April 2023 350,615
Revaluation (30,516)
At 5 April 2024 320,099
Historical cost
At 6 April 2023 319,448
At 5 April 2024 319,448
4 Investments held as current assets 2024 2023
£ £
Fair value - -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Unlisted investments (30,516) 31,167
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,104 2,542
Other creditors 223,517 223,145
225,621 225,687
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 48,171 62,293
7 Related party transactions
Amounts owing to the director (incuded in creditors falling due within one year):
£
Balance at 6 April 2023 221,000
Increase during the year 1,575
Balance at 5 April 2024 222,575
8 Other information
Olizzy Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ocean 80 1st Floor
80 Holdenhurst Road
Bournemouth
Dorset
BH8 8AQ
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