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Company Registration No. 11790930 (England and Wales)
Olivia AI Network Ltd Unaudited accounts for the year ended 31 January 2024
Olivia AI Network Ltd Unaudited accounts Contents
Page
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Olivia AI Network Ltd Company Information for the year ended 31 January 2024
Directors
Mr N S Cuervo-Atkin Mr B Cuervo-Atkin Mr N Carlile
Company Number
11790930 (England and Wales)
Registered Office
Walton House 56-58 Richmond Hill Bournemouth Dorset BH2 6EX
Accountants
Pope Accountancy Services Ltd 13 Douglas Road Southbourne BH6 3ER
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Olivia AI Network Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,000 
8,000 
Current assets
Debtors
90,571 
84,496 
Cash at bank and in hand
19,498 
(5,566)
110,069 
78,930 
Creditors: amounts falling due within one year
(37,122)
(46,988)
Net current assets
72,947 
31,942 
Total assets less current liabilities
78,947 
39,942 
Creditors: amounts falling due after more than one year
(73,886)
(39,929)
Net assets
5,061 
13 
Capital and reserves
Called up share capital
6 
4 
Profit and loss account
5,055 
9 
Shareholders' funds
5,061 
13 
For the year ending 31 January 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by
Mr N S Cuervo-Atkin Director Company Registration No. 11790930
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Olivia AI Network Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Olivia AI Network Ltd is a private company, limited by shares, registered in England and Wales, registration number 11790930. The registered office is Walton House, 56-58 Richmond Hill, Bournemouth, Dorset, BH2 6EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cashgenerating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2023
20,000 
At 31 January 2024
20,000 
Amortisation
At 1 February 2023
12,000 
Charge for the year
2,000 
At 31 January 2024
14,000 
Net book value
At 31 January 2024
6,000 
At 31 January 2023
8,000 
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Olivia AI Network Ltd Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,312 
9,237 
Other debtors
75,259 
75,259 
90,571 
84,496 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
9,573 
13,380 
Trade creditors
2,391 
- 
Taxes and social security
17,237 
43,118 
Other creditors
- 
5,300 
Loans from directors
7,501 
(14,810)
Accruals
420 
- 
37,122 
46,988 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
33,886 
39,929 
Other creditors
40,000 
- 
73,886 
39,929 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors Loan
14,810 
(14,810)
- 
- 
14,810 
(14,810)
- 
- 
9
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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