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REGISTERED NUMBER: 14225630 (England and Wales)













OLISEC LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024






OLISEC LTD (REGISTERED NUMBER: 14225630)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


OLISEC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: Mr O A Reyland





REGISTERED OFFICE: 19 Romilly Crescent
Cardiff
CF11 9NP





REGISTERED NUMBER: 14225630 (England and Wales)





ACCOUNTANTS: Carston ETL
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

OLISEC LTD (REGISTERED NUMBER: 14225630)

STATEMENT OF FINANCIAL POSITION
31ST JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,600 10,800
Tangible assets 5 11,280 15,040
20,880 25,840

CURRENT ASSETS
Cash at bank 5,026 2,205

CREDITORS
Amounts falling due within one year 6 16,554 14,072
NET CURRENT LIABILITIES (11,528 ) (11,867 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,352 13,973

CREDITORS
Amounts falling due after more than one year 7 9,217 13,577
NET ASSETS 135 396

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 35 296
SHAREHOLDERS' FUNDS 135 396

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th November 2024 and were signed by:





Mr O A Reyland - Director


OLISEC LTD (REGISTERED NUMBER: 14225630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024


1. STATUTORY INFORMATION

Olisec Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 12,000
AMORTISATION
At 1st August 2023 1,200
Amortisation for year 1,200
At 31st July 2024 2,400
NET BOOK VALUE
At 31st July 2024 9,600
At 31st July 2023 10,800

OLISEC LTD (REGISTERED NUMBER: 14225630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024


5. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st August 2023
and 31st July 2024 18,800
DEPRECIATION
At 1st August 2023 3,760
Charge for year 3,760
At 31st July 2024 7,520
NET BOOK VALUE
At 31st July 2024 11,280
At 31st July 2023 15,040

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,600 1,600
Hire purchase contracts 2,760 2,760
Taxation and social security 6,497 342
Other creditors 5,697 9,370
16,554 14,072

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,467 5,067
Hire purchase contracts 5,750 8,510
9,217 13,577

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100