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Company Registration No. 14133932 (England and Wales)
Olthor Ltd Unaudited accounts for the year ended 31 May 2024
Olthor Ltd Unaudited accounts Contents
Page
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Olthor Ltd Company Information for the year ended 31 May 2024
Director
Sebastian Daniel OLCZAK
Company Number
14133932 (England and Wales)
Registered Office
155-157 High Street Aldershot GU11 1TT England
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Olthor Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,485 
4,647 
Current assets
Debtors
- 
2,188 
Cash at bank and in hand
92 
3,642 
92 
5,830 
Creditors: amounts falling due within one year
(5,960)
(9,006)
Net current liabilities
(5,868)
(3,176)
Total assets less current liabilities
(2,383)
1,471 
Provisions for liabilities
Other provisions
(662)
(883)
Net (liabilities)/assets
(3,045)
588 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(3,145)
488 
Shareholders' funds
(3,045)
588 
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 March 2025 and were signed on its behalf by
Sebastian Daniel OLCZAK Director Company Registration No. 14133932
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Olthor Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Olthor Ltd is a private company, limited by shares, registered in England and Wales, registration number 14133932. The registered office is 155-157 High Street, Aldershot, GU11 1TT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life
Plant & machinery
25% on reducing balance
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Olthor Ltd Notes to the Accounts for the year ended 31 May 2024
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.
Deferred taxation
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 period 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
Going concern
The company has net current liabilities and trades with the support of its director. The director has considered the future trading forecasts for the company and considers that it is appropriate to prepare the financial statements on a going concern basis.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 June 2023
6,196 
At 31 May 2024
6,196 
Depreciation
At 1 June 2023
1,549 
Charge for the year
1,162 
At 31 May 2024
2,711 
Net book value
At 31 May 2024
3,485 
At 31 May 2023
4,647 
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Olthor Ltd Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
2,188 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,759 
2,312 
Taxes and social security
(263)
6,694 
Other creditors
4,464 
- 
5,960 
9,006 
7
Average number of employees
During the year the average number of employees was 1 (2023: 2).
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