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Registration number: 15002469

Olivewood Renovations Limited

Unaudited Filleted Financial Statements

for the Period from 13 July 2023 to 31 July 2024

 

Olivewood Renovations Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Olivewood Renovations Limited

Company Information

Directors

Mr Stuart Hooper

Mr Jake Hooper

Registered office

4 Furlong Row
Clanfield
Oxon
OX18 2RW

Accountants

Chatfield Accountancy Limited
Chartered Certified
7 Dovetrees
Carterton
Oxon
OX18 1AN

 

Olivewood Renovations Limited

(Registration number: 15002469)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

7,081

Current assets

 

Stocks

5

1,500

Debtors

6

3,858

Cash at bank and in hand

 

56,117

 

61,475

Creditors: Amounts falling due within one year

7

(41,876)

Net current assets

 

19,599

Total assets less current liabilities

 

26,680

Provisions for liabilities

(1,629)

Net assets

 

25,051

Capital and reserves

 

Called up share capital

8

10

Retained earnings

25,041

Shareholders' funds

 

25,051

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Olivewood Renovations Limited

(Registration number: 15002469)
Balance Sheet as at 31 July 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mr Stuart Hooper
Director

 

Olivewood Renovations Limited

Statement of Changes in Equity for the Period from 13 July 2023 to 31 July 2024

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

80,661

80,661

Dividends

-

(55,620)

(55,620)

New share capital subscribed

10

-

10

At 31 July 2024

10

25,041

25,051

 

Olivewood Renovations Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
4 Furlong Row
Clanfield
Oxon
OX18 2RW
United Kingdom

These financial statements were authorised for issue by the Board on 22 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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 specific criteria have been met for each of the company's activities.

 

Olivewood Renovations Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2023 to 31 July 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducingbalance

Computer equipment

33% Straight line

Motor Vehicle

15% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Olivewood Renovations Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2023 to 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Olivewood Renovations Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2023 to 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

2,477

1,012

5,000

8,489

At 31 July 2024

2,477

1,012

5,000

8,489

Depreciation

Charge for the period

357

301

750

1,408

At 31 July 2024

357

301

750

1,408

Carrying amount

At 31 July 2024

2,120

711

4,250

7,081

5

Stocks

2024
£

Other inventories

1,500

6

Debtors

Current

2024
£

Trade debtors

3,641

Other debtors

217

 

3,858

 

Olivewood Renovations Limited

Notes to the Unaudited Financial Statements for the Period from 13 July 2023 to 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

7,696

Taxation and social security

26,951

Accruals and deferred income

1,140

Other creditors

6,089

41,876

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Share capital of £1 each

10

10

   

9

Dividends

2024

£

Interim dividend of £5,298.40 per ordinary share

55,620