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
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
Olivia AI Network Ltd
Statement of financial position
as at 31 January 2024
Intangible assets
6,000
8,000
Cash at bank and in hand
19,498
(5,566)
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)
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
Olivia AI Network Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
Olivia AI Network Ltd
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
15,312
9,237
Other debtors
75,259
75,259
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
17,237
43,118
Loans from directors
7,501
(14,810)
7
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan
14,810
(14,810)
-
-
9
Average number of employees
During the year the average number of employees was 3 (2023: 4).