Olbas Limited 03074175 true 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is dormant Digita Accounts Production Advanced 6.30.9574.0 true J M Groves J Groves false true 03074175 2023-08-01 2024-07-31 03074175 2024-07-31 03074175 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-07-31 03074175 core:ShareCapital 2024-07-31 03074175 core:CurrentFinancialInstruments 2024-07-31 03074175 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03074175 bus:FRS102 2023-08-01 2024-07-31 03074175 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03074175 bus:FullAccounts 2023-08-01 2024-07-31 03074175 bus:Director1 2023-08-01 2024-07-31 03074175 bus:Director2 2023-08-01 2024-07-31 03074175 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-08-01 2024-07-31 03074175 bus:EntityHasNeverTraded 2023-08-01 2024-07-31 03074175 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03074175 1 2023-08-01 2024-07-31 03074175 countries:EnglandWales 2023-08-01 2024-07-31 03074175 2022-08-01 2023-07-31 03074175 2023-07-31 03074175 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-31 03074175 core:ShareCapital 2023-07-31 03074175 core:CurrentFinancialInstruments 2023-07-31 03074175 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03074175

Olbas Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Olbas Limited

Profit and Loss Account for the Year Ended 31 July 2024

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Olbas Limited

(Registration number: 03074175)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Debtors

3

1

1

Capital and reserves

 

Called up share capital

4

1

1

Shareholders' funds

 

1

1

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year 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.

Approved and authorised by the Board on 25 February 2025 and signed on its behalf by:
 


J M Groves
Director

 

Olbas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

Accounting policies

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies..

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

1

1

 

1

1

 

Olbas Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

5

Control

The company's immediate parent is G. R. Lane Holdings Limited, incorporated in United Kingdom.