OLYNESS LTD

Company Registration Number:
05970101 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

OLYNESS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

OLYNESS LTD

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 0 10,932
Total fixed assets: 0 10,932
Current assets
Debtors:   370,502 181,669
Cash at bank and in hand: 46
Total current assets: 370,548 181,669
Creditors: amounts falling due within one year:   (351,167) (155,319)
Net current assets (liabilities): 19,381 26,350
Total assets less current liabilities: 19,381 37,282
Creditors: amounts falling due after more than one year:   (6,667) (14,167)
Total net assets (liabilities): 12,714 23,115
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 12,614 23,015
Shareholders funds: 12,714 23,115

The notes form part of these financial statements

OLYNESS LTD

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 November 2025
and signed on behalf of the board by:

Name: M S Jones
Status: Director

The notes form part of these financial statements

OLYNESS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Short leasehold property - Straight line over the life of the lease Fittings fixtures and equipment - 15% reducing balance Motor vehicles - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset.

Other accounting policies

Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

OLYNESS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 2 2

OLYNESS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 111,441
Disposals (111,441)
At 31 December 2024 0
Depreciation
At 01 January 2024 100,509
Charge for year 1,640
On disposals (102,149)
At 31 December 2024 0
Net book value
At 31 December 2024 0
At 31 December 2023 10,932

OLYNESS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Loans to directors

Name of director receiving advance or credit: M S Jones
Description of the loan: Loan advance
£
Balance at 01 January 2024 46,287
Advances or credits made: 106,293
Balance at 31 December 2024 152,580
Name of director receiving advance or credit: O A Jones
Description of the loan: Loan advance
£
Balance at 01 January 2024 46,287
Advances or credits made: 106,293
Balance at 31 December 2024 152,580

The company charges a market rate interest on loan advances to the directors.

OLYNESS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Related party transactions

Name of the related party: Oscar Bears Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 January 2024 56,256
Balance at 31 December 2024 60,342
Name of the related party: Kiddy World Ltd
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 January 2024 0
Balance at 31 December 2024 79,033
Name of the related party: 1st Class Nursery Limited
Relationship:
Associated company
Description of the Transaction: intercompany
£
Balance at 01 January 2024 42,014
Balance at 31 December 2024 113,244

Lloyds Bank Ltd hold an omnibus guarantee and right of set off between Kid Inc Limited, Oscar Bears Limited, Kiddy World Ltd, 1st Class Nursery Limited and Olyness Limited, all of which have M S Jones and O A Jones as directors.