Martin Oliva Ltd - Filleted accounts

Registered number

08012406

Martin Oliva Ltd

Filleted Accounts

31 March 2025

Martin Oliva Ltd
Registered number:		08012406
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		41,043			46,597

Current assets
Stocks		355,000			325,000
Debtors	4	-			732
Cash at bank and in hand		6,195			814
		361,195			326,546

Creditors: amounts falling due within one year	5	(112,198)			(122,238)

Net current assets			248,997			204,308

Total assets less current liabilities			290,040			250,905

Creditors: amounts falling due after more than one year	6		(22,823)			(44,220)

Provisions for liabilities			(2,716)			(2,630)


Net assets			264,501			204,055

Capital and reserves
Called up share capital			100			100
Profit and loss account			264,401			203,955

Shareholders' funds			264,501			204,055

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Marcin Oliwa
Director
Approved by the board on 21 May 2025

Martin Oliva Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
	Fixtures, fittings, tools and equipment	15% reducing balance
	Motor Vehicles	over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases.

	Pensions
	Contributions to auto-enrollment pension plans are expensed when paid.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			3		2


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	26,799		39,950		66,749
	Additions	4,979		-		4,979
	At 31 March 2025	31,778		39,950		71,728

	Depreciation
	At 1 April 2024	14,825		5,327		20,152
	Charge for the year	2,543		7,990		10,533
	At 31 March 2025	17,368		13,317		30,685

	Net book value
	At 31 March 2025	14,410		26,633		41,043
	At 31 March 2024	11,974		34,623		46,597


4	Debtors			2025		2024
£					£

	Other debtors, prepayments and deposits			-		732


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			17,433		27,637
	Obligations under finance lease and hire purchase contracts			7,540		7,540
	Trade creditors			7,121		14,600
	Taxation and social security costs			43,476		32,729
	Other creditors - director's loans			36,628		39,732
				112,198		122,238


6	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			4,508		20,448
	Obligations under finance lease and hire purchase contracts			18,315		23,772
				22,823		44,220


7	Other information

	Martin Oliva Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	120 George Lane
	London
	E18 1AD