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REGISTERED NUMBER: 09047093 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

OLIVER & AKERS LTD

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OLIVER & AKERS LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTOR: Mr A Oliver





REGISTERED OFFICE: Tyttenhanger House
Coursers Road
St. Albans
Hertfordshire
AL4 0PG





REGISTERED NUMBER: 09047093 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,201 26,727

CURRENT ASSETS
Debtors 5 126,001 130,172
Cash at bank 57,721 56,456
183,722 186,628
CREDITORS
Amounts falling due within one year 6 53,140 51,301
NET CURRENT ASSETS 130,582 135,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

152,783

162,054

CREDITORS
Amounts falling due after more than one
year

7

(20,090

)

(34,191

)

PROVISIONS FOR LIABILITIES 9 (4,218 ) (5,078 )
NET ASSETS 128,475 122,785

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 49,950 49,950
Retained earnings 78,425 72,735
SHAREHOLDERS' FUNDS 128,475 122,785

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

BALANCE SHEET - continued
31 May 2024


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 26 February 2025 and were signed by:





Mr A Oliver - Director


OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Oliver & Akers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 2,551 30,270 7,591 40,412
Additions - - 2,785 2,785
At 31 May 2024 2,551 30,270 10,376 43,197
DEPRECIATION
At 1 June 2023 2,361 4,414 6,910 13,685
Charge for year 116 6,464 731 7,311
At 31 May 2024 2,477 10,878 7,641 20,996
NET BOOK VALUE
At 31 May 2024 74 19,392 2,735 22,201
At 31 May 2023 190 25,856 681 26,727

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 4,680 57
Other debtors 117,400 129,400
Prepayments 3,921 715
126,001 130,172

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 9,250 9,250
Other loans 4,540 4,541
Trade creditors 234 -
Taxation 3,917 4,639
Social security and other taxes 1,141 766
Value added tax 11,442 8,772
Other creditors 9,570 758
Directors' current accounts 11,396 16,596
Accruals 1,650 5,979
53,140 51,301

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 9,250 9,250
Bank loans - 2-5 years 1,908 11,069
Other loans - 1-2 years 4,540 4,541
Other loans - 2-5 years 1,892 6,431
Other creditors 2,500 2,900
20,090 34,191

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 13,430 8,901
Between one and five years 38,244 35,602
In more than five years 1,483 10,384
53,157 54,887

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax
Accelerated capital allowances 4,218 5,078

Deferred
tax
£   
Balance at 1 June 2023 5,078
Credit to Statement of Income and Retained Earnings during year (860 )
Balance at 31 May 2024 4,218

OLIVER & AKERS LTD (REGISTERED NUMBER: 09047093)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
50 Ordinary A 1 50 50
50 Ordinary B 1 50 50
100 100