OLIVIA R SPENCER LTD

	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 10930191

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		50,000		50,000
Tangible Assets	5		3,007		4,192

			53,007		54,192
CURRENT ASSETS
Stocks	6	6,785		5,250
Debtors	7	17,604		-
Cash at bank and in hand		6,139		47,440

		30,528		52,690
Creditors: Amounts Falling Due Within One Year	8	(41,802 )		(48,279 )

NET CURRENT ASSETS (LIABILITIES)			(11,274 )		4,411

TOTAL ASSETS LESS CURRENT LIABILITIES			41,733		58,603

Creditors: Amounts Falling Due After More Than One Year	9		(34,991 )		(58,568 )

NET ASSETS			6,742		35

CAPITAL AND RESERVES
Called up share capital	10		10		10
Profit and Loss Account			6,732		25

SHAREHOLDERS' FUNDS			6,742		35

Page 1

Page 2

OLIVIA R SPENCER LTD

Balance Sheet (continued)

As At 30 August 2024

For the year ending 30 August 2024 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

Olivia Moore

Director

06/03/2025

The notes on pages 4 to 6 form part of these financial statements.

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 31 August 2022	10	(5,402 )	(5,392)
Profit for the year and total comprehensive income	-	6,727	6,727

Dividends paid	-	(1,300)	(1,300)

As at 30 August 2023 and 31 August 2023	10	25	35


Profit for the year and total comprehensive income	-	15,207	15,207

Dividends paid	-	(8,500)	(8,500)

As at 30 August 2024	10	6,732	6,742

1. General Information

OLIVIA R SPENCER LTD is a private company, limited by shares, incorporated in England & Wales, registered number 10930191 . The registered office is 120 Cavendish Place, Eastbourne, BN21 3TZ.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

2.4. 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:

Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33.33% Straight Line

2.5. 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.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

Page 4

Page 5

OLIVIA R SPENCER LTD

Notes to the Financial Statements (continued)

For The Year Ended 30 August 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Intangible Assets

	Goodwill
	£
Cost
As at 31 August 2023	50,000

As at 30 August 2024	50,000

Net Book Value
As at 30 August 2024	50,000

As at 31 August 2023	50,000

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 31 August 2023	26,482	542	2,229	29,253
Additions	-	157	-	157

As at 30 August 2024	26,482	699	2,229	29,410

Depreciation
As at 31 August 2023	23,416	177	1,468	25,061
Provided during the period	767	121	454	1,342

As at 30 August 2024	24,183	298	1,922	26,403

Net Book Value
As at 30 August 2024	2,299	401	307	3,007

As at 31 August 2023	3,066	365	761	4,192

6. Stocks

	2024	2023
	£	£
Finished goods	6,785	5,250

Page 5

Page 6

OLIVIA R SPENCER LTD

Notes to the Financial Statements (continued)

For The Year Ended 30 August 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	17,604	-

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	340	190
Corporation tax	3,372	-
Other taxes and social security	9,455	4,492
VAT	17,143	29,686
Other creditors	11,179	-
Accruals and deferred income	313	97
Director's loan account	-	13,814

	41,802	48,279

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	34,991	58,568

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	10	10

Page 6