Olpro Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07890917 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Olpro Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Harby

Miss M King

Mrs L M Walton

D Walton

SECRETARY:

REGISTERED OFFICE:

Unit 6 Kdo Business Park

Little Witley

Worcester

Worcestershire

WR6 6LG

REGISTERED NUMBER:

07890917 (England and Wales)

ACCOUNTANTS:

SW&A Accountants

Unit 7 Ball Mill Top

Main Road

Hallow

Worcester

Worcestershire

FIXED ASSETS

Tangible assets

4

19,104

19,707

CURRENT ASSETS

Stocks

866,523

840,365

Debtors

5

105,420

84,112

Cash at bank

51,840

53,701

1,023,783

978,178

CREDITORS

Amounts falling due within one year

6

992,493

990,622

NET CURRENT ASSETS/(LIABILITIES)

31,290

(12,444

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,394

7,263

PROVISIONS FOR LIABILITIES

3,630

-

NET ASSETS

46,764

7,263

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

46,664

7,163

46,764

7,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2020 and were signed on its behalf by:

D Walton - Director

1.	STATUTORY INFORMATION

Olpro Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

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

the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

49,352

Additions

7,438

At 31 December 2019

56,790

DEPRECIATION

At 1 January 2019

29,645

Charge for year

8,041

At 31 December 2019

37,686

NET BOOK VALUE

At 31 December 2019

19,104

At 31 December 2018

19,707

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

22,643

25,844

Other debtors

82,777

58,268

105,420

84,112

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

203,943

252,710

Hire purchase contracts

112,427

-

Trade creditors

37,305

64,865

Taxation and social security

68,168

69,793

Other creditors

570,650

603,254

992,493

990,622