| REGISTERED NUMBER: |
| Olive and Padgett Limited |
| Unaudited Financial Statements for the Year Ended 30 April 2025 |
| REGISTERED NUMBER: |
| Olive and Padgett Limited |
| Unaudited Financial Statements for the Year Ended 30 April 2025 |
| Olive and Padgett Limited (Registered number: 00801527) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Olive and Padgett Limited (Registered number: 00801527) |
| Balance Sheet |
| 30 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Olive and Padgett Limited (Registered number: 00801527) |
| Balance Sheet - continued |
| 30 April 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Olive and Padgett Limited (Registered number: 00801527) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | STATUTORY INFORMATION |
| Olive and Padgett Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Olive and Padgett Limited (Registered number: 00801527) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| 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 year 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| Olive and Padgett Limited (Registered number: 00801527) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Value added tax | 30,365 | 10,409 |
| Credit cards | 255 | 1,101 |
| Accrued expenses |
| 7. | ULTIMATE CONTROLLING PARTY |
| Mr S J Padgett and Mr D A Padgett control the company by virtue of their ownership of 100% of the issued share capital in Olive & Padgett (Holdings) Limited. Company number 14932366. |
| 8. | DEPRECIATION OF BUILDINGS |
| The directors have concluded that buildings need not be depreciated on the basis that a full maintenance programme is in operation and current market value far outweighs cost. This is not in accordance with Financial Reporting Standard 102 which states that depreciation should be charged. |