Company Registration No. 11970200 (England and Wales)
Olduvai Ltd
Unaudited accounts
for the year ended 30 April 2024
Olduvai Ltd
Unaudited accounts
Contents
Olduvai Ltd
Company Information
for the year ended 30 April 2024
Directors
Matthew Mungo Tristram Soggot
Robyn Scott
Richard James Addis
Company Number
11970200 (England and Wales)
Registered Office
2 Vicarage Drive
London
SW14 8RX
England
Olduvai Ltd
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
191,762
65,907
Creditors: amounts falling due within one year
(523,751)
(215,047)
Net current assets
448,911
390,598
Total assets less current liabilities
449,197
390,598
Creditors: amounts falling due after more than one year
(251,559)
(270,000)
Net assets
197,638
120,598
Called up share capital
127
127
Share premium
219,926
219,926
Capital contribution reserve
54,574
-
Profit and loss account
(76,989)
(99,455)
Shareholders' funds
197,638
120,598
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by
Matthew Mungo Tristram Soggot
Director
Company Registration No. 11970200
Olduvai Ltd
Notes to the Accounts
for the year ended 30 April 2024
Olduvai Ltd is a private company, limited by shares, registered in England and Wales, registration number 11970200. The registered office is 2 Vicarage Drive, London, SW14 8RX, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 years straight line
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments in shares are included at cost.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Olduvai Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Computer equipment
5
Investments
Subsidiary undertakings
Valuation at 30 April 2024
7
The company has a 100% owned subsidiary, Olduvai (Pty) Ltd, registered in South Africa with registered number 2019/392667/07 and address 368 Jan Smuts Avenue, Craighall, Johannesburg, South Africa. This investment is held at cost.
Amounts falling due within one year
Amounts due from group undertakings etc.
731,294
538,720
Accrued income and prepayments
49,606
1,000
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,801
2,659
Loans from directors
20,048
22,649
Olduvai Ltd
Notes to the Accounts
for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
251,559
270,000
As of 30 April 2024, other creditors comprises £251,559 (2023: £270,000) of convertible bonds which carry conversion rights. These bonds are subject to terms that allow the holders to convert the debt into equity, subject to specific conditions outlined in the related agreements. The conversion rights are exercisable at the discretion of the bondholders and, if exercised, may result in the issuance of equity instruments in exchange for the outstanding debt.
9
Average number of employees
During the year the average number of employees was 2 (2023: 1).