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Registered number: 11135684
Oliver's Cupboard Brand Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Artema Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11135684
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 319
- 319
CURRENT ASSETS
Stocks 5 - 93,863
Debtors 6 19,730 54,754
Cash at bank and in hand 26 360
19,756 148,977
Creditors: Amounts Falling Due Within One Year 7 (429,978 ) (380,198 )
NET CURRENT ASSETS (LIABILITIES) (410,222 ) (231,221 )
TOTAL ASSETS LESS CURRENT LIABILITIES (410,222 ) (230,902 )
Creditors: Amounts Falling Due After More Than One Year 8 (34,739 ) (39,776 )
NET LIABILITIES (444,961 ) (270,678 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 411,675 411,675
Profit and Loss Account (856,637 ) (682,354 )
SHAREHOLDERS' FUNDS (444,961) (270,678)
Page 1
Page 2
For the year ending 31 January 2025 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 her 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
Mrs Sadia Ahmed
Director
21/02/2025
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
Oliver's Cupboard Brand Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11135684 . The registered office is 1a Kingsburys Lane, Ringwood, Hants, BH24 1EL.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Computer Equipment 3 years straight line
2.4. 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2024 3,647
As at 31 January 2025 3,647
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2024 3,328
Provided during the period 319
As at 31 January 2025 3,647
Net Book Value
As at 31 January 2025 -
As at 1 February 2024 319
5. Stocks
2025 2024
£ £
Finished goods - 93,863
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 18,965 53,290
VAT 765 1,464
19,730 54,754
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,391 29,231
Bank loans and overdrafts 10,000 10,000
Other loans 398,320 300,612
Other taxes and social security 1,131 681
Director's loan account 18,136 39,674
429,978 380,198
The 'other' loan is not interest-bearing and is repayable on demand.
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 34,739 39,776
The bank loan is unsecured and interest is payable at 2.5%.
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
Page 4