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REGISTERED NUMBER: 01861607 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Olympian Sheds Limited

Olympian Sheds Limited (Registered number: 01861607)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Olympian Sheds Limited (Registered number: 01861607)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,200 15,045
Tangible assets 5 109,163 73,442
126,363 88,487

CURRENT ASSETS
Stocks 542,884 564,951
Debtors 6 229,324 32,548
Cash at bank and in hand 241,679 289,131
1,013,887 886,630
CREDITORS
Amounts falling due within one year 7 670,065 400,696
NET CURRENT ASSETS 343,822 485,934
TOTAL ASSETS LESS CURRENT LIABILITIES 470,185 574,421

PROVISIONS FOR LIABILITIES 31,491 18,361
NET ASSETS 438,694 556,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 438,594 555,960
SHAREHOLDERS' FUNDS 438,694 556,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Mr B Williams - Director


Olympian Sheds Limited (Registered number: 01861607)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Olympian Sheds 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: 01861607

Registered office: Moston Road
Springvale Industrial Estate
Sandbach
Cheshire
CW11 3JA

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods supplied.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Olympian Sheds Limited (Registered number: 01861607)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Grants
The grant received is being released to the profit and loss over the economic useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2023 92,275
Additions 21,000
At 31 January 2024 113,275
AMORTISATION
At 1 February 2023 77,230
Amortisation for year 18,845
At 31 January 2024 96,075
NET BOOK VALUE
At 31 January 2024 17,200
At 31 January 2023 15,045

Olympian Sheds Limited (Registered number: 01861607)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 35,047 102,251 85,149
Additions 25,241 2,223 24,265
At 31 January 2024 60,288 104,474 109,414
DEPRECIATION
At 1 February 2023 28,805 86,003 60,973
Charge for year 3,447 2,771 12,110
At 31 January 2024 32,252 88,774 73,083
NET BOOK VALUE
At 31 January 2024 28,036 15,700 36,331
At 31 January 2023 6,242 16,248 24,176

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 108,741 7,661 338,849
Additions - 12,019 63,748
At 31 January 2024 108,741 19,680 402,597
DEPRECIATION
At 1 February 2023 84,859 4,767 265,407
Charge for year 5,970 3,729 28,027
At 31 January 2024 90,829 8,496 293,434
NET BOOK VALUE
At 31 January 2024 17,912 11,184 109,163
At 31 January 2023 23,882 2,894 73,442

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,370 19,601
Amounts owed by group undertakings 166,391 9,803
Other debtors 19,563 3,144
229,324 32,548

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 44,961 90,307
Amounts owed to group undertakings 437,598 5,428
Taxation and social security 156,657 214,530
Other creditors 30,849 90,431
670,065 400,696

Olympian Sheds Limited (Registered number: 01861607)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. OTHER FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £4,200 (2023: £21,000). These financial commitments represent the total amount of payments for various leases ending in 2025.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Willbro Holdings Limited.