The Olivia Partnership LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: OC420369

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		74,134		58,750

			74,134		58,750
CURRENT ASSETS
Debtors	5	352,263		161,001
Cash at bank and in hand		27,765		25,818

		380,028		186,819
Creditors: Amounts Falling Due Within One Year	6	(132,431 )		(114,716 )

NET CURRENT ASSETS (LIABILITIES)			247,597		72,103

TOTAL ASSETS LESS CURRENT LIABILITIES			321,731		130,853

Creditors: Amounts Falling Due After More Than One Year	7		(129,188 )		(117,613 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			192,543		13,240

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		192,543		13,240

			192,543		13,240

			192,543		13,240

TOTAL MEMBERS' INTEREST
Amounts due from members			(352,263)		(160,881)
Loans and other debts due to members within one year			192,543		13,240

			(159,720)		(147,641)

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The Olivia Partnership LLP

Balance Sheet (continued)

As At 5 April 2025

For the year ending 5 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

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

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Stuart Joseph Morley

Designated Member

29/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

The Olivia Partnership LLP is a limited liability partnership, incorporated in England & Wales, registered number OC420369 . The Registered Office is 4 The Orchard, Tholthorpe, YO61 1SX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on cost
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

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The Olivia Partnership LLP

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 6 April 2024	15,200	141,199	12,236	168,635
Additions	-	42,487	-	42,487

As at 5 April 2025	15,200	183,686	12,236	211,122

Depreciation
As at 6 April 2024	7,750	91,379	10,756	109,885
Provided during the period	3,800	22,452	851	27,103

As at 5 April 2025	11,550	113,831	11,607	136,988

Net Book Value
As at 5 April 2025	3,650	69,855	629	74,134

As at 6 April 2024	7,450	49,820	1,480	58,750

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	120
Amounts due from members	352,263	160,881

	352,263	161,001

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,250	6,582
Bank loans and overdrafts	5,795	5,653
Accruals and deferred income	122,386	102,481

	132,431	114,716

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	90,278	65,433
Bank loans	27,438	33,233
Accruals and deferred income	11,472	18,947

	129,188	117,613

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The Olivia Partnership LLP

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,250	6,582
Later than one year and not later than five years	90,278	65,433

	94,528	72,015

	94,528	72,015

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