Olympus Commercial Supplies Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03135837 (England and Wales)

Olympus Commercial Supplies Limited

Abbreviated Accounts

for the Year Ended 31 December 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

L Wilson

SECRETARY:

Miss K A Boyer

REGISTERED OFFICE:

4 Ladybank

Tamworth

Staffordshire

B79 7NB

REGISTERED NUMBER:

03135837 (England and Wales)

ACCOUNTANTS:

Tamworth Accountancy Services Limited

4 Ladybank

Tamworth

Staffordshire

B79 7NB

FIXED ASSETS

Tangible assets

2

63,909

66,635

CURRENT ASSETS

Debtors

106,760

151,040

Cash at bank and in hand

84,242

2,317

191,002

153,357

CREDITORS

Amounts falling due within one year

190,647

199,296

NET CURRENT ASSETS/(LIABILITIES)

355

(45,939

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,264

20,696

CREDITORS

Amounts falling due after more than one year

(27,541

)

-

PROVISIONS FOR LIABILITIES

(448

)

-

NET ASSETS

36,275

20,696

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

36,175

20,596

SHAREHOLDERS' FUNDS

36,275

20,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 9 April 2015 and were signed by:

L Wilson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

125,810

DEPRECIATION

At 1 January 2014

59,175

Charge for year

2,726

At 31 December 2014

61,901

NET BOOK VALUE

At 31 December 2014

63,909

At 31 December 2013

66,635

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Maybank Holdings Limited, registered in England and Wales.

Company number 04494482.