Company registration number 00516548 (England and Wales)
OLTEC GROUP TRADING LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
OLTEC GROUP TRADING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 11
OLTEC GROUP TRADING LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
590,911
592,770
Current assets
Debtors falling due after more than one year
6
3,643,173
2,555,371
Debtors falling due within one year
6
1,867,649
1,372,601
Cash at bank and in hand
60,127
73,840
5,570,949
4,001,812
Creditors: amounts falling due within one year
7
(3,014,494)
(2,524,108)
Net current assets
2,556,455
1,477,704
Total assets less current liabilities
3,147,366
2,070,474
Creditors: amounts falling due after more than one year
8
-
(11,122)
Provisions for liabilities
Deferred tax liability
10
63,500
42,402
(63,500)
(42,402)
Net assets
3,083,866
2,016,950
Capital and reserves
Called up share capital
11
166,000
166,000
Profit and loss reserves
12
2,917,866
1,850,950
Total equity
3,083,866
2,016,950

The notes on pages 3 to 11 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 July 2025
O Cavaliere
Director
Company registration number 00516548 (England and Wales)
OLTEC GROUP TRADING LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2023
166,000
1,658,903
1,824,903
Year ended 31 March 2024:
Profit and total comprehensive income
-
282,047
282,047
Dividends
-
(90,000)
(90,000)
Balance at 31 March 2024
166,000
1,850,950
2,016,950
Year ended 31 March 2025:
Profit and total comprehensive income
-
1,066,916
1,066,916
Balance at 31 March 2025
166,000
2,917,866
3,083,866

The notes on pages 3 to 11 form part of these financial statements.

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Oltec Group Trading Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Oltec Group, 208 Wigan Road, Hindley, Wigan, WN2 3BU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Oltec Group Holding Limited. These consolidated financial statements are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover shown in the profit and loss account represents the total value of all security and facilities management services delivered during the year, at selling price excluding value added tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% per annum straight line basis
Plant and machinery
33% per annum reducing balance basis
Fixtures, fittings & equipment
25% per annum straight line basis and 15% per annum reducing balance basis
Motor vehicles
25% per annum reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The director has reviewed the economic life of tangible fixed assets based on past experience in order to arrive at appropriate depreciation rates, as disclosed in Note 1.4, to ensure that the related assets are included in the balance sheet at appropriate amounts.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Management and administrative
16
12
General operatives
150
192
Total
166
204
4
Director's remuneration
2025
2024
£
£
Company pension contributions to defined contribution schemes
185,000
180,000

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
5
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
449,397
392,342
497,145
226,795
1,565,679
Additions
8,000
-
0
-
0
166,495
174,495
Disposals
-
0
-
0
-
0
(152,030)
(152,030)
At 31 March 2025
457,397
392,342
497,145
241,260
1,588,144
Depreciation and impairment
At 1 April 2024
17,275
353,117
485,090
117,427
972,909
Depreciation charged in the year
44,939
21,681
3,014
55,715
125,349
Eliminated in respect of disposals
-
0
-
0
-
0
(101,025)
(101,025)
At 31 March 2025
62,214
374,798
488,104
72,117
997,233
Carrying amount
At 31 March 2025
395,183
17,544
9,041
169,143
590,911
At 31 March 2024
432,122
39,225
12,055
109,368
592,770

Tangible fixed assets includes assets held under finance leases or hire purchase contracts, as follows:

2025
2024
£
£
Motor vehicles
10,816
45,291
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,829,642
1,319,506
Amounts owed by group undertakings
1,798
1,798
Other debtors
-
0
29,730
Prepayments and accrued income
36,209
21,567
1,867,649
1,372,601
2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
3,643,173
2,555,371
Total debtors
5,510,822
3,927,972
OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans and overdrafts
9
260,367
100,401
Obligations under finance leases
546
29,872
Trade creditors
853,847
557,407
Amounts owed to group undertakings
458,892
562,868
Corporation tax
136,950
60,732
Other taxation and social security
541,158
538,474
Other creditors
249,358
240,354
Accruals and deferred income
513,376
434,000
3,014,494
2,524,108
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Obligations under finance leases
-
0
11,122
9
Loans and overdrafts
2025
2024
£
£
Bank overdrafts
260,367
100,401
Payable within one year
260,367
100,401

The bank overdrafts are secured by an unscheduled mortgage debenture incorporating a fixed and floating charge over the assets of the company. Included within bank loans and overdrafts is an invoice discounting creditor of £260,367 (2024: £100,401), which is secured on the book debts of the company.

10
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
63,500
42,402
OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10
Deferred taxation
(Continued)
- 10 -
2025
Movements in the year:
£
Liability at 1 April 2024
42,402
Charge to profit or loss
21,098
Liability at 31 March 2025
63,500

The deferred tax liability set out above is expected to reverse within 4 years and relates to accelerated capital allowances that are expected to mature within the same period.

11
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
162,000
162,000
162,000
162,000
Ordinary B shares of £1 each
4,000
4,000
4,000
4,000
166,000
166,000
166,000
166,000

The A Ordinary shares and B Ordinary shares rank pari passu with each other, save as regards dividends, in that the director may, in his absolute discretion, declare a dividend in respect of the B Ordinary Shares, but shall not be obliged to declare a dividend in respect of the A Ordinary Shares and vice versa.

12
Profit and loss reserves

Profit and loss reserves represent the cumulative profits and losses, net of distributions to shareholders.

13
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Christopher Moss BSc F.C.A.
Statutory Auditor:
JS. Audit Limited
Date of audit report:
25 July 2025
OLTEC GROUP TRADING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 11 -
14
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
36,000
36,000
Years 2-5
144,000
144,000
After 5 years
129,000
165,000
309,000
345,000
15
Financial commitments, guarantees and contingent liabilities

There is a cross guarantee between Oltec Group Holding Ltd and Oltec Group Trading Ltd in favour of the group's bankers. The maximum potential liability as at 31 March 2025 was £nil (2024: £643,997).

16
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2025
2024
£
£
Entities under common control
36,000
15,000

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities under common control
805,672
6,135
17
Ultimate controlling party

The ultimate parent undertaking is deemed to be OC Investments Limited, a company incorporated in the Isle of Man, which owns 100% of the issued Ordinary share capital of Oltec Group Holding Ltd, the immediate parent undertaking. OC Investments Limited is exempt from the requirement to prepare group accounts. The company is ultimately owned by the OC Trust which holds 100% of the ordinary share capital in OC Investments Limited. The directors consider there to be no ultimate controlling party.

 

Oltec Group Holding Ltd owned 100% of the Ordinary A and 100% of the Ordinary B issued share capital of the company. Oltec Group Holding Ltd is registered in England and Wales and has prepared consolidated financial statements.

2025-03-312024-04-01falsefalsefalse25 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityO Cavaliere005165482024-04-012025-03-31005165482025-03-31005165482024-03-3100516548core:LeaseholdImprovements2025-03-3100516548core:PlantMachinery2025-03-3100516548core:FurnitureFittings2025-03-3100516548core:MotorVehicles2025-03-3100516548core:LeaseholdImprovements2024-03-3100516548core:PlantMachinery2024-03-3100516548core:FurnitureFittings2024-03-3100516548core:MotorVehicles2024-03-3100516548core:Non-currentFinancialInstrumentscore:AfterOneYear2025-03-3100516548core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3100516548core:ShareCapital2025-03-3100516548core:ShareCapital2024-03-3100516548core:RetainedEarningsAccumulatedLosses2025-03-3100516548core:RetainedEarningsAccumulatedLosses2024-03-3100516548core:ShareCapital2023-03-3100516548core:RetainedEarningsAccumulatedLosses2023-03-3100516548core:ShareCapitalOrdinaryShareClass12025-03-3100516548core:ShareCapitalOrdinaryShareClass12024-03-3100516548core:ShareCapitalOrdinaryShareClass22025-03-3100516548core:ShareCapitalOrdinaryShareClass22024-03-3100516548core:ShareCapitalOrdinaryShares2025-03-3100516548core:ShareCapitalOrdinaryShares2024-03-3100516548bus:Director12024-04-012025-03-3100516548core:RetainedEarningsAccumulatedLosses2023-04-012024-03-31005165482023-04-012024-03-3100516548core:RetainedEarningsAccumulatedLosses2024-04-012025-03-3100516548core:LeaseholdImprovements2024-04-012025-03-3100516548core:PlantMachinery2024-04-012025-03-3100516548core:FurnitureFittings2024-04-012025-03-3100516548core:MotorVehicles2024-04-012025-03-3100516548core:LeaseholdImprovements2024-03-3100516548core:PlantMachinery2024-03-3100516548core:FurnitureFittings2024-03-3100516548core:MotorVehicles2024-03-31005165482024-03-3100516548core:CurrentFinancialInstruments2025-03-3100516548core:CurrentFinancialInstruments2024-03-3100516548core:AfterOneYear2025-03-3100516548core:AfterOneYear2024-03-3100516548core:Non-currentFinancialInstruments2025-03-3100516548core:Non-currentFinancialInstruments2024-03-3100516548bus:OrdinaryShareClass12024-04-012025-03-3100516548bus:OrdinaryShareClass22024-04-012025-03-3100516548bus:OrdinaryShareClass12025-03-3100516548bus:OrdinaryShareClass12024-03-3100516548bus:OrdinaryShareClass22025-03-3100516548bus:OrdinaryShareClass22024-03-3100516548bus:AllOrdinaryShares2025-03-3100516548bus:AllOrdinaryShares2024-03-3100516548core:WithinOneYear2025-03-3100516548core:WithinOneYear2024-03-3100516548core:BetweenTwoFiveYears2025-03-3100516548core:BetweenTwoFiveYears2024-03-3100516548core:MoreThanFiveYears2025-03-3100516548core:MoreThanFiveYears2024-03-3100516548bus:PrivateLimitedCompanyLtd2024-04-012025-03-3100516548bus:FRS1022024-04-012025-03-3100516548bus:Audited2024-04-012025-03-3100516548bus:SmallCompaniesRegimeForAccounts2024-04-012025-03-3100516548bus:FullAccounts2024-04-012025-03-31xbrli:purexbrli:sharesiso4217:GBP