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Registered number: SC503110
OLM Environmental Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
AH Accounting Services
Chartered Certified Accountant
20 Queen Square
Glasgow
G41 2AZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC503110
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64 149
64 149
CURRENT ASSETS
Debtors 5 9,614 9,360
Cash at bank and in hand 9,301 9,860
18,915 19,220
Creditors: Amounts Falling Due Within One Year 6 (12,402 ) (11,603 )
NET CURRENT ASSETS (LIABILITIES) 6,513 7,617
TOTAL ASSETS LESS CURRENT LIABILITIES 6,577 7,766
NET ASSETS 6,577 7,766
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account 6,567 7,756
SHAREHOLDERS' FUNDS 6,577 7,766
Page 1
Page 2
For the year ending 31 May 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 Kevin McInally
Director
12/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OLM Environmental Limited is a private company, limited by shares, incorporated in Scotland, registered number SC503110 . The registered office is 97 Lady Nancy Crescent, Blantyre, Glasgow, G72 9BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.


2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings Straight Line 15%
Computer Equipment Straight Line 33%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 562 2,326 2,888
As at 31 May 2024 562 2,326 2,888
Depreciation
As at 1 June 2023 413 2,326 2,739
Provided during the period 85 - 85
As at 31 May 2024 498 2,326 2,824
Net Book Value
As at 31 May 2024 64 - 64
As at 1 June 2023 149 - 149
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,391 7,882
Director's loan account 4,223 1,478
9,614 9,360
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Corporation tax 5,160 4,874
VAT 6,092 5,578
Accruals and deferred income 1,150 1,150
12,402 11,603
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Kevin McInally 1,478 4,245 1,500 - 4,223
Page 4