Acorah Software Products - Accounts Production 16.0.110 false true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 06273407 Mr Olivier Lievre Mr Mark Bouman true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06273407 2023-06-30 06273407 2024-06-30 06273407 2023-07-01 2024-06-30 06273407 frs-core:CurrentFinancialInstruments 2024-06-30 06273407 frs-core:Non-currentFinancialInstruments 2024-06-30 06273407 frs-core:ComputerEquipment 2024-06-30 06273407 frs-core:ComputerEquipment 2023-07-01 2024-06-30 06273407 frs-core:ComputerEquipment 2023-06-30 06273407 frs-core:FurnitureFittings 2024-06-30 06273407 frs-core:FurnitureFittings 2023-07-01 2024-06-30 06273407 frs-core:FurnitureFittings 2023-06-30 06273407 frs-core:PlantMachinery 2024-06-30 06273407 frs-core:PlantMachinery 2023-07-01 2024-06-30 06273407 frs-core:PlantMachinery 2023-06-30 06273407 frs-core:ShareCapital 2024-06-30 06273407 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 06273407 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06273407 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 06273407 frs-bus:SmallEntities 2023-07-01 2024-06-30 06273407 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06273407 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06273407 1 2023-07-01 2024-06-30 06273407 frs-bus:Director1 2023-07-01 2024-06-30 06273407 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 06273407 frs-core:CurrentFinancialInstruments 1 2024-06-30 06273407 frs-core:CurrentFinancialInstruments 2 2024-06-30 06273407 frs-core:CurrentFinancialInstruments 3 2024-06-30 06273407 frs-countries:EnglandWales 2023-07-01 2024-06-30 06273407 2022-06-30 06273407 2023-06-30 06273407 2022-07-01 2023-06-30 06273407 frs-core:CurrentFinancialInstruments 2023-06-30 06273407 frs-core:Non-currentFinancialInstruments 2023-06-30 06273407 frs-core:ShareCapital 2023-06-30 06273407 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 06273407 frs-core:CurrentFinancialInstruments 1 2023-06-30 06273407 frs-core:CurrentFinancialInstruments 2 2023-06-30 06273407 frs-core:CurrentFinancialInstruments 3 2023-06-30
Registered number: 06273407
Olivier's Lounge Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Abacus Accountancy & Payroll Services Limited
FMAAT
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06273407
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 861 1,371
861 1,371
CURRENT ASSETS
Stocks 5 89,480 97,730
Debtors 6 7,550 7,550
Cash at bank and in hand 2,578 8,059
99,608 113,339
Creditors: Amounts Falling Due Within One Year 7 (133,376 ) (117,897 )
NET CURRENT ASSETS (LIABILITIES) (33,768 ) (4,558 )
TOTAL ASSETS LESS CURRENT LIABILITIES (32,907 ) (3,187 )
Creditors: Amounts Falling Due After More Than One Year 8 (9,243 ) (19,257 )
NET LIABILITIES (42,150 ) (22,444 )
CAPITAL AND RESERVES
Called up share capital 9 150 150
Profit and Loss Account (42,300 ) (22,594 )
SHAREHOLDERS' FUNDS (42,150) (22,444)
Page 1
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Olivier Lievre
Director
4 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Olivier's Lounge Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06273407 . The registered office is 1 Bellvue Parade, Wandsworth Common, London, SW17 7EQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.5. Leasing and Hire Purchase Contracts
Operating Leases : Rentals under operating leases are charged to the Profit and Loss Acount on a straight line basis over the lease term.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 2,042 48,654 2,519 53,215
As at 30 June 2024 2,042 48,654 2,519 53,215
...CONTINUED
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Depreciation
As at 1 July 2023 671 48,654 2,519 51,844
Provided during the period 510 - - 510
As at 30 June 2024 1,181 48,654 2,519 52,354
Net Book Value
As at 30 June 2024 861 - - 861
As at 1 July 2023 1,371 - - 1,371
5. Stocks
2024 2023
£ £
Finished goods 89,480 97,730
6. Debtors
2024 2023
£ £
Due within one year
Called up share capital not paid 50 50
Due after more than one year
Other debtors 7,500 7,500
7,550 7,550
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,553 25,976
Bank loans and overdrafts 15,013 16,660
Other taxes and social security 1,730 1,739
VAT 6,363 8,727
Net wages - 3,977
Other creditors - loans (Current liabilities - creditors < 1 year) 31,377 29,707
Credit card- creditors < 1 year) 22,615 19,438
Bounce Bank Loan (Current liabilities - creditors < 1 year) 10,648 10,648
Commission owed 20,490 -
Accruals and deferred income 1,587 1,025
133,376 117,897
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan (Long term liabilities - creditors > 1 year) 9,243 19,257
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9. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 50 50
Called Up Share Capital has been paid up 100 100
Amount of Allotted, Called Up Share Capital 150 150
10. Ultimate Controlling Party
The company's ultimate controlling party is Olivier Lievre by virtue of his majority shareholding in the company
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