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REGISTERED NUMBER: 10990585 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Olu Enterprises Ltd

Olu Enterprises Ltd (Registered number: 10990585)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Olu Enterprises Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: O Olufowobi





REGISTERED OFFICE: c/o ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB





REGISTERED NUMBER: 10990585 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Olu Enterprises Ltd (Registered number: 10990585)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,133 3,118

CURRENT ASSETS
Debtors 5 3,502 1,882
Cash at bank and in hand 3,920 3,928
7,422 5,810
CREDITORS
Amounts falling due within one year 6 5,274 6,654
NET CURRENT ASSETS/(LIABILITIES) 2,148 (844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,281

2,274

CREDITORS
Amounts falling due after more than one year 7 1,279 2,220
NET ASSETS 2,002 54

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,001 53
SHAREHOLDERS' FUNDS 2,002 54

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

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

Olu Enterprises Ltd (Registered number: 10990585)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2025 and were signed by:





O Olufowobi - Director


Olu Enterprises Ltd (Registered number: 10990585)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Olu Enterprises 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.

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 represents amounts received for the provision of nursing care services. The company is not registered for value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.Due to the immaterial amount involved no provision has been made in the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Olu Enterprises Ltd (Registered number: 10990585)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2023 8,150
Additions 1,700
At 31 October 2024 9,850
DEPRECIATION
At 1 November 2023 5,032
Charge for year 3,685
At 31 October 2024 8,717
NET BOOK VALUE
At 31 October 2024 1,133
At 31 October 2023 3,118

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 3,502 1,882

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 1,000 1,000
Tax 3,502 5,021
Directors' current accounts 172 33
Accrued expenses 600 600
5,274 6,654

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans - 2-5 years 1,279 2,220

8. ULTIMATE CONTROLLING PARTY

The controlling party is O Olufowobi.

At the year end the company owed the director £172, (2023,£33).