ACCOUNTS - Final Accounts


Caseware UK (AP4) 2016.0.181 2016.0.1812018-03-312018-03-31Activities of head officeThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2017-04-01098212652017-04-012018-03-31098212652018-03-31098212652017-03-3109821265 c:Director1 2017-04-012018-03-3109821265 d:Buildings 2017-04-012018-03-3109821265 d:Buildings 2018-03-3109821265 d:Buildings 2017-03-3109821265 d:LandBuildings 2018-03-3109821265 d:LandBuildings 2017-03-3109821265 d:CurrentFinancialInstruments 2018-03-3109821265 d:CurrentFinancialInstruments 2017-03-3109821265 d:Non-currentFinancialInstruments 2018-03-3109821265 d:Non-currentFinancialInstruments 2017-03-3109821265 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-3109821265 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-3109821265 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-3109821265 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-3109821265 d:ShareCapital 2018-03-3109821265 d:ShareCapital 2017-03-3109821265 d:SharePremium 2018-03-3109821265 d:SharePremium 2017-03-3109821265 d:RetainedEarningsAccumulatedLosses 2018-03-3109821265 d:RetainedEarningsAccumulatedLosses 2017-03-3109821265 c:FRS102 2017-04-012018-03-3109821265 c:AuditExempt-NoAccountantsReport 2017-04-012018-03-3109821265 c:FullAccounts 2017-04-012018-03-3109821265 c:PrivateLimitedCompanyLtd 2017-04-012018-03-3109821265 d:Subsidiary1 2017-04-012018-03-3109821265 d:Subsidiary1 1 2017-04-012018-03-31iso4217:GBPxbrli:pure

Registered number: 09821265










OLA HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

 
OLA HOLDINGS LIMITED
REGISTERED NUMBER: 09821265

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 3 
800,000
800,000

Investments
 4 
1,772,359
1,772,359

  
2,572,359
2,572,359

  

Creditors: amounts falling due within one year
 5 
(970,745)
(720)

Net current liabilities
  
 
 
(970,745)
 
 
(720)

Total assets less current liabilities
  
1,601,614
2,571,639

Creditors: amounts falling due after more than one year
 6 
(1,372,078)
(2,473,373)

  

Net assets
  
229,536
98,266


Capital and reserves
  

Called up share capital 
 7 
100
100

Share premium account
  
1,772,259
1,772,259

Profit and loss account
  
(1,542,823)
(1,674,093)

  
229,536
98,266


Page 1

 
OLA HOLDINGS LIMITED
REGISTERED NUMBER: 09821265
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C J Sheppard
Director

Date: 12 November 2018

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

OLA Holdings Limited is a private limited company, limited by shares and incorporatied in England and Wales, with its registered office and principal place of business at New Smithfield, Shrewsbury Road, Oswestry, Shropshire, SY11 4QA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 13 October 2015 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Nil

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Page 4

 
OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2017
800,000



At 31 March 2018

800,000






Net book value



At 31 March 2018
800,000



At 31 March 2017
800,000




The net book value of land and buildings may be further analysed as follows:


2018
2017
£
£

Freehold
800,000
800,000

800,000
800,000


Page 5

 
OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2017
1,772,359



At 31 March 2018

1,772,359






Net book value



At 31 March 2018
1,772,359

Subsidiary undertakings

The following were subsidiary undertakings of the Company:

Name
Class of shares
Holding
Principal activity

Oswestry Livestock Auctions Limited
Ordinary
 100%
Livestock Auctions


The aggregate of the share capital and reserves as at 31 March 2018 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Aggregate of share capital and reserves
Profit/(loss)
£
£
Oswestry Livestock Auctions Limited

970,145

146,287

970,145

146,287


5.


Creditors: Amounts falling due within one year

2018
2017
£
£

Amounts owed to group undertakings
970,045
-

Accruals and deferred income
700
720

970,745
720


Page 6

 
OLA HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

6.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Amounts owed to group undertakings
1,372,078
2,473,373

1,372,078
2,473,373



7.


Share capital

2018
2017
£
£
Allotted, called up and fully paid



10,000 (2017 - 10,000) Ordinary shares of £0.01 each
100
100


 
Page 7