Olvossa Limited - Period Ending 2022-03-31

Olvossa Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 5

Olvossa Limited

(Registration number: 08644817)
Balance Sheet as at 31 March 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	3	37,094	23,978
Current assets
Stocks		45,419	54,662
Debtors	4	473	134
Cash at bank and in hand		2,834	15,817
		48,726	70,613
Creditors: Amounts falling due within one year	5	(62,885)	(75,152)
Net current liabilities		(14,159)	(4,539)
Total assets less current liabilities		22,935	19,439
Provisions for liabilities		(794)	(794)
Net assets		22,141	18,645
Capital and reserves
Called up share capital		1	1
Retained earnings		22,140	18,644
Shareholders' funds		22,141	18,645

Olvossa Limited

(Registration number: 08644817)
Balance Sheet as at 31 March 2022

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 March 2023
 

......................................... Miss H Jones Director

Olvossa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

1	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Motor vehicles	20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

Olvossa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

3	Tangible assets

	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2021	7,875	29,575	37,450
Additions	-	20,004	20,004
At 31 March 2022	7,875	49,579	57,454
Depreciation
At 1 April 2021	4,968	8,504	13,472
Charge for the year	727	6,161	6,888
At 31 March 2022	5,695	14,665	20,360
Carrying amount
At 31 March 2022	2,180	34,914	37,094
At 31 March 2021	2,907	21,071	23,978

4

Debtors

Current	2022 £	2021 £
Other debtors	473	134
	473	134

Olvossa Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

5

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Trade creditors	15,945	40,417
Taxation and social security	-	704
Other creditors	46,940	34,031
	62,885	75,152