Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10758309 Mr Michael Carter Mr Michael Miles iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10758309 2023-05-31 10758309 2024-05-31 10758309 2023-06-01 2024-05-31 10758309 frs-core:CurrentFinancialInstruments 2024-05-31 10758309 frs-core:ComputerEquipment 2024-05-31 10758309 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10758309 frs-core:ComputerEquipment 2023-05-31 10758309 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10758309 frs-core:NetGoodwill 2024-05-31 10758309 frs-core:NetGoodwill 2023-06-01 2024-05-31 10758309 frs-core:NetGoodwill 2023-05-31 10758309 frs-core:MotorVehicles 2024-05-31 10758309 frs-core:MotorVehicles 2023-06-01 2024-05-31 10758309 frs-core:MotorVehicles 2023-05-31 10758309 frs-core:PlantMachinery 2024-05-31 10758309 frs-core:PlantMachinery 2023-06-01 2024-05-31 10758309 frs-core:PlantMachinery 2023-05-31 10758309 frs-core:ShareCapital 2024-05-31 10758309 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10758309 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10758309 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10758309 frs-bus:SmallEntities 2023-06-01 2024-05-31 10758309 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10758309 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10758309 frs-bus:Director1 2023-06-01 2024-05-31 10758309 frs-bus:Director2 2023-06-01 2024-05-31 10758309 frs-countries:EnglandWales 2023-06-01 2024-05-31 10758309 2022-05-31 10758309 2023-05-31 10758309 2022-06-01 2023-05-31 10758309 frs-core:CurrentFinancialInstruments 2023-05-31 10758309 frs-core:ShareCapital 2023-05-31 10758309 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10758309
Ollie's Logs Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
R Stride & Co LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10758309
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,996 5,329
Tangible Assets 5 20,272 24,125
24,268 29,454
CURRENT ASSETS
Stocks 6 9,225 3,300
Debtors 7 2 581
Cash at bank and in hand 8,231 6,181
17,458 10,062
Creditors: Amounts Falling Due Within One Year 8 (65,290 ) (61,258 )
NET CURRENT ASSETS (LIABILITIES) (47,832 ) (51,196 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,564 ) (21,742 )
NET LIABILITIES (23,564 ) (21,742 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (23,566 ) (21,744 )
SHAREHOLDERS' FUNDS (23,564) (21,742)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Miles
Director
27th October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ollie's Logs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10758309 . The registered office is The Old Coach House Rear Of Eastville Terrace, Ripon Road, Harrogate, North Yorkshire, HG1 3HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 33%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 13,325
As at 31 May 2024 13,325
Amortisation
As at 1 June 2023 7,996
Provided during the period 1,333
As at 31 May 2024 9,329
Net Book Value
As at 31 May 2024 3,996
As at 1 June 2023 5,329
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 51,623 10,500 609 62,732
As at 31 May 2024 51,623 10,500 609 62,732
Depreciation
As at 1 June 2023 29,546 8,632 429 38,607
Provided during the period 3,326 467 60 3,853
As at 31 May 2024 32,872 9,099 489 42,460
Net Book Value
As at 31 May 2024 18,751 1,401 120 20,272
As at 1 June 2023 22,077 1,868 180 24,125
6. Stocks
2024 2023
£ £
Stock 9,225 -
Materials - 3,300
9,225 3,300
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 2 581
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,087 -
Bank loans and overdrafts - 998
Other creditors 55,117 60,260
Taxation and social security 86 -
65,290 61,258
9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 2 2
Amount of Allotted, Called Up Share Capital 2 2
Page 5