Registered number
13351609
Ollmoo Ltd
Filleted Accounts
30 April 2024
Ollmoo Ltd
Registered number: 13351609
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 29,402 30,689
Tangible assets 4 981 2,316
30,383 33,005
Current assets
Debtors 5 456 3,437
Cash at bank and in hand 7,984 60,745
8,440 64,182
Creditors: amounts falling due within one year 6 (479,496) (339,694)
Net current liabilities (471,056) (275,512)
Net liabilities (440,673) (242,507)
Capital and reserves
Called up share capital 4 4
Profit and loss account (440,677) (242,511)
Shareholders' funds (440,673) (242,507)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs K A Moos
Director
Approved by the board on 22 January 2025
Ollmoo Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going concern
The accounts have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The basis may not be appropriate because as at 30 April 2024 the company's liabilities exceeded its assets by £440,678. The directors are of the opinion that the company will trade profitably in the future and the company receives continued financial support from its directors. If this basis were found not to be appropriate assets and liabilities would have to be restated on a break up basis which would not be materially different.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Website development costs over 5 years
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 2 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website development costs:
Cost
At 1 May 2023 46,033
Additions 9,899
At 30 April 2024 55,932
Amortisation
At 1 May 2023 15,344
Provided during the year 11,186
At 30 April 2024 26,530
Net book value
At 30 April 2024 29,402
At 30 April 2023 30,689
Website development costs are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 6,004
Additions 1,960
At 30 April 2024 7,964
Depreciation
At 1 May 2023 3,688
Charge for the year 3,295
At 30 April 2024 6,983
Net book value
At 30 April 2024 981
At 30 April 2023 2,316
5 Debtors 2024 2023
£ £
Other debtors 456 3,437
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 479,496 339,694
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs K A Moos
(338,894) (139,502) - (478,396)
(338,894) (139,502) - (478,396)
The amount owed to the director is interest free and no repayment date has been set.
8 Controlling party
The company is controlled by the directors by virtue of their shareholdings of the company.
9 Other information
Ollmoo Ltd is a private company limited by shares and incorporated in England. Its registered office is:
147A Northcote Road
London
SW11 6QB
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