Olimat Supply Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06987628 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 March 2018

for

Olimat Supply Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms L Lawner

SECRETARY:

Miss M A Rooney

REGISTERED OFFICE:

5 Luke Street

London

EC2A 4PX

REGISTERED NUMBER:

06987628 (England and Wales)

ACCOUNTANTS:

Litchfields

5 Luke Street

London

EC2A 4PX

FIXED ASSETS

Intangible assets

4

48,337

80,745

CURRENT ASSETS

Debtors

108,597

113,436

Cash at bank and in hand

21,139

14,367

129,736

127,803

CREDITORS

Amounts falling due within one year

208,764

250,812

NET CURRENT LIABILITIES

(79,028

)

(123,009

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,691

)

(42,264

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(30,791

)

(42,364

)

SHAREHOLDERS' FUNDS

(30,691

)

(42,264

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 19 December 2018 and were signed by:

Ms L Lawner - Director

1.	STATUTORY INFORMATION

Olimat Supply Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

321,875

AMORTISATION

At 1 April 2017

241,130

Amortisation for year

32,408

At 31 March 2018

273,538

NET BOOK VALUE

At 31 March 2018

48,337

At 31 March 2017

80,745