REGISTERED NUMBER: SC559086 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

Olivia Interiors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss O Conlon

J Conlon

REGISTERED OFFICE:

9 Glasgow Road

Paisley

PA1 3QS

REGISTERED NUMBER:

SC559086 (Scotland)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

CURRENT ASSETS

48,000

Stocks

37,500

49,428

Debtors

6

49,767

843

Cash at bank

69,917

98,271

157,184

CREDITORS

54,415

Amounts falling due within one year

7

92,433

43,856

NET CURRENT ASSETS

64,751

43,856

TOTAL ASSETS LESS CURRENT LIABILITIES

64,751

CREDITORS

41,350

Amounts falling due after more than one year

8

33,408

2,506

NET ASSETS

31,343

CAPITAL AND RESERVES

1

Called up share capital

10

1

2,505

Retained earnings

31,342

2,506

SHAREHOLDERS' FUNDS

31,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

Miss O Conlon - Director

1.	STATUTORY INFORMATION

Olivia Interiors Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the total invoice value, less credit notes, excluding value added tax of sales made during the period.

Revenue is recognised when goods or services are received by the customer and the risks and rewards of ownership have been passed to them. Revenue is measured at the fair value of consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount of these stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expenses in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction on the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

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.

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.

Cash & 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Dividends received are included in the company financial statements in the period in which the related dividends are actually paid, or in respect of the final dividend for the year, approved by shareholders.

Financial instruments

Basic financial instruments are recognised at amortised cost. Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

Totals

fittings

equipment

£

£

£

COST

At 1 April 2024

14,208

12,358

1,850

Disposals

(12,358

)

(12,358

)

-

At 31 March 2025

1,850

-

1,850

DEPRECIATION

At 1 April 2024

14,208

12,358

1,850

Eliminated on disposal

(12,358

)

(12,358

)

-

At 31 March 2025

1,850

-

1,850

NET BOOK VALUE

At 31 March 2025

-

-

-

At 31 March 2024

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

7,879

4,855

Other debtors

41,888

44,573

49,767

49,428

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 9)

-

1,864

Trade creditors

2,477

149

Taxation and social security

27,383

18,036

Other creditors

62,573

34,366

92,433

54,415

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

33,408

41,350

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

1,864

SSAS Loan

4,933

12,399

Bounce Back Loan

5,520

5,520

10,453

19,783

Amounts falling due between one and two years:

SSAS Loan

7,229

9,145

Bounce Back Loan

5,520

5,520

12,749

14,665

Amounts falling due between two and five years:

Bounce Back Loan

20,659

26,685

The company received a Government backed Bounce Back Loan (BBL) of £50,000.

The terms of this loan were that :

there was no arrangement fee,

that interest rates throughout the term of the loan were capped at 2.5%,

the first year's interest charges were met by the government,

the government guaranteed 100% of the loan to the bank.

As the interest rate charges are subsidised by the government in the first year in which the loan is received, these are included within the accounts as interest payable by the company and the balancing entry, grant income, is included within Other Operating Income.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

1

1

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Miss O Conlon

Balance outstanding at start of year

5,097

15,462

Amounts advanced

-

9,635

Amounts repaid

(5,097

)

(20,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,097

The loan to the director is unsecured and interest on this loan is chargeable at 2.5% per annum. There is no fixed repayment date in respect of this loan.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss O Conlon.