Ollands Limited - Limited company - abbreviated - 11.9

Ollands Limited - Limited company - abbreviated - 11.9

OLLANDS LIMITED - Company Information

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REGISTERED NUMBER: 03441520 (England and Wales)












ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

OLLANDS LIMITED

OLLANDS LIMITED (REGISTERED NUMBER: 03441520)

ABBREVIATED BALANCE SHEET
30 September 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 89,143 108,273

CURRENT ASSETS
Stocks 6,230 8,456
Debtors 139,195 152,057
Cash at bank and in hand 264,685 194,617
410,110 355,130
CREDITORS
Amounts falling due within one year 3 142,666 114,242
NET CURRENT ASSETS 267,444 240,888
TOTAL ASSETS LESS CURRENT
LIABILITIES
356,587
349,161

CREDITORS
Amounts falling due after more than one
year
3
(25,169		 )
(51,015		 )

PROVISIONS FOR LIABILITIES (17,828 ) (21,655 )
NET ASSETS 313,590 276,491

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 313,490 276,391
SHAREHOLDERS' FUNDS 313,590 276,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 notes form part of these abbreviated accounts

OLLANDS LIMITED (REGISTERED NUMBER: 03441520)

ABBREVIATED BALANCE SHEET - continued
30 September 2015


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 5 November 2015 and were signed by:





S G Lusher - Director


The notes form part of these abbreviated accounts

OLLANDS LIMITED (REGISTERED NUMBER: 03441520)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 30 September 2015

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).

Basis of trading
Some purchases of goods by the company are made on the terms that legal ownership shall not pass
until payment. The financial statements have been drawn up on the basis that such ownership will be
established in the normal course of trading.

Turnover
Turnover comprises the value of goods and services invoiced to customers excluding value added
taxation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete
and slow moving items on a basis consistent with previous years.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held
under finance leases are depreciated over their estimated useful lives or the lease term, whichever is
the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

OLLANDS LIMITED (REGISTERED NUMBER: 03441520)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 30 September 2015

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2014 333,937
Additions 14,055
Disposals (13,605 )
Reclassification/transfer (32,366 )
At 30 September 2015 302,021
DEPRECIATION
At 1 October 2014 225,664
Charge for year 29,715
Eliminated on disposal (10,135 )
Reclassification/transfer (32,366 )
At 30 September 2015 212,878
NET BOOK VALUE
At 30 September 2015 89,143
At 30 September 2014 108,273

3. CREDITORS

Creditors include an amount of £ 51,015 (2014 - £ 78,211 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
100 Ordinary £1 100 100