Olympus Commercial Supplies Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03135837 (England and Wales)

Olympus Commercial Supplies Limited

Abbreviated Accounts

for the Year Ended 31 December 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

L Wilson

SECRETARY:

Miss K A Boyer

REGISTERED OFFICE:

4 Ladybank

Tamworth

Staffordshire

B79 7NB

REGISTERED NUMBER:

03135837 (England and Wales)

ACCOUNTANTS:

Tamworth Accountancy Services Limited

4 Ladybank

Tamworth

Staffordshire

B79 7NB

FIXED ASSETS

Tangible assets

2

62,948

63,909

CURRENT ASSETS

Debtors

176,122

106,760

Cash at bank and in hand

56,057

84,242

232,179

191,002

CREDITORS

Amounts falling due within one year

278,450

190,647

NET CURRENT (LIABILITIES)/ASSETS

(46,271

)

355

TOTAL ASSETS LESS CURRENT LIABILITIES

16,677

64,264

CREDITORS

Amounts falling due after more than one year

-

(27,541

)

PROVISIONS FOR LIABILITIES

(642

)

(448

)

NET ASSETS

16,035

36,275

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

15,935

36,175

SHAREHOLDERS' FUNDS

16,035

36,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 30 June 2016 and were signed by:

L Wilson - Director

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 January 2015).

Turnover

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

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

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

period of the lease.

Pension costs and other post-retirement benefits

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

125,810

Additions

1,957

At 31 December 2015

127,767

DEPRECIATION

At 1 January 2015

61,901

Charge for year

2,918

At 31 December 2015

64,819

NET BOOK VALUE

At 31 December 2015

62,948

At 31 December 2014

63,909

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Maybank Holdings Limited, registered in England and Wales.

Company number 04494482.