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OLIVER INVESTMENT HOLDINGS LIMITED
REGISTERED NUMBER: 07860450
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2021
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DIRECTORS' BENEFITS: ADVANCES, CREDITS AND GUARANTEES
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There were no financial commitments, guarantees or contingencies entered into with the directors in either the current or preceding year.
During the year the company advanced £NIL (2020 - £NIL) to the Directors. No amounts were repaid, waived or written off in the year (2020 - £NIL).The advances are interest free and repayable on demand.
The balances, totalling £625,216 (2020 - £625,216), were held in current assets at year end.
GUARANTEES AND OTHER FINANCIAL COMMITMENTS
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The bank loans outstanding of £5,787,476 (2020 - £5,971,335) are secured by a fixed and floating charge over the assets of the company. The loans are secured by Maverick Advertising and Design Limited, a company under common control of the directors.
It has been agreed there will be an unlimited debenture from the company to the bank.
The company has agreed with its bankers to an 'Omnibus Guarantee and Set off Agreement' (OGSA) in favour of the bank in respect of any liabilities arising to the bank from the company.
DIRECTORS' CONFIRMATIONS
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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O W Rees
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