Abbreviated Company Accounts - OLIVITS LTD.

07891467 OLIVITS LTD. 2013-12-31 false 2013-01-01 2013-12-31 true 07891467 2013-01-01 2013-12-31 07891467 2013-12-31 07891467 2012-12-31 07891467 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 07891467 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 07891467

OLIVITS LTD.

Abbreviated Accounts

31 December 2013

OLIVITS LTD. Registered Number 07891467

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	-	14,964
		-	14,964
Current assets
Stocks		-	5,305
Debtors	3	-	70
Cash at bank and in hand		1,454	11,708
		1,454	17,083
Creditors: amounts falling due within one year	4	(3,709)	(27,151)
Net current assets (liabilities)		(2,255)	(10,068)
Total assets less current liabilities		(2,255)	4,896
Total net assets (liabilities)		(2,255)	4,896
Capital and reserves
Called up share capital	5	1	1
Profit and loss account		(2,256)	4,895
Shareholders' funds		(2,255)	4,896

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 September 2014

And signed on their behalf by:
UZAIR YOUSAF, Director

OLIVITS LTD. Registered Number 07891467

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.The total turnover of the company for the year has been derived from its principal activity wholly
undertaken in the UK.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its
expected useful life, as follows:
Plant and machinery - 25% straight line
Fixtures, fittings and equipment - 25% straight line

Other accounting policies
Stock is valued at the lower of cost and net realisable value.

2Tangible fixed assets

	£
Cost
At 1 January 2013	19,952
Additions	-
Disposals	(19,952)
Revaluations	-
Transfers	-
At 31 December 2013	0
Depreciation
At 1 January 2013	4,988
Charge for the year	-
On disposals	(4,988)
At 31 December 2013	0
Net book values
At 31 December 2013	0
At 31 December 2012	14,964

3Debtors

	2013 £	2012 £
Debtors include the following amounts due after more than one year	-	70

4Creditors

	2013 £	2012 £
Secured Debts	3,709	27,151

5Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1 Ordinary shares of £1 each	1	1