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REGISTERED NUMBER: OC334494 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Olivers Mill Cleaning and Maintenance
LLP

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,444 5,111
Tangible assets 6 515,566 605,242
518,010 610,353

CURRENT ASSETS
Stocks 12,856 46,949
Debtors 1,419,585 1,345,807
Cash at bank 378,350 363,812
1,810,791 1,756,568
CREDITORS
Amounts falling due within one year 1,795,549 1,604,959
NET CURRENT ASSETS 15,242 151,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

533,252

761,962

CREDITORS
Amounts falling due after more than one
year

380,357

608,793
NET ASSETS ATTRIBUTABLE TO
MEMBERS

152,895

153,169

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Abridged Balance Sheet - continued
31st March 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 152,895 153,169
152,895 153,169

TOTAL MEMBERS' INTERESTS
Members' other interests 152,895 153,169

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 4th November 2024 and were signed by:





Mr S R Sumner - Designated member

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Olivers Mill Cleaning and Maintenance LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC334494

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

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


2. STATEMENT OF COMPLIANCE

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Revenue from the sale of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

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 three years.

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

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

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Stock valued using standard cost. Net realisable value is the value that would be received if the stock was sold immediately for the highest price realistically obtainable.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

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

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 320 (2023 - 320 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 17,750
AMORTISATION
At 1st April 2023 12,639
Amortisation for year 2,667
At 31st March 2024 15,306
NET BOOK VALUE

At 31st March 2024 2,444
At 31st March 2023 5,111

Olivers Mill Cleaning and Maintenance
LLP (Registered number: OC334494)

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

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 1,151,056
Additions 485,571
Disposals (696,033 )
At 31st March 2024 940,594
DEPRECIATION
At 1st April 2023 545,814
Charge for year 85,414
Eliminated on disposal (206,200 )
At 31st March 2024 425,028
NET BOOK VALUE
At 31st March 2024 515,566
At 31st March 2023 605,242

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st April 2023 623,158
Additions 402,568
Disposals (623,158 )
At 31st March 2024 402,568
DEPRECIATION
At 1st April 2023 186,844
Charge for year 38,041
Eliminated on disposal (186,843 )
At 31st March 2024 38,042
NET BOOK VALUE
At 31st March 2024 364,526
At 31st March 2023 436,314

7. ULTIMATE CONTROLLING PARTY

During the year, the ultimate controlling party was Mr S R Sumner and Mrs L J Sumner by virtue of having control of the designated members.