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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2015 |
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OLPASS LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 5 APRIL 2015 |
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FOR |
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OLPASS LIMITED |
OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2015 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Profit and Loss Account | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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OLPASS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2015 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 5 APRIL 2015 |
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The directors present their report with the financial statements of the company for the year ended 5 April 2015. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 6 April 2014 to the date of this |
report. |
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This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act |
2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 5 APRIL 2015 |
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2015 | 2014 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING PROFIT | 2 |
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Interest receivable and similar income |
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PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION |
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Tax on profit on ordinary activities | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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BALANCE SHEET |
5 APRIL 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Profit and loss account | 10 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2015 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Computer equipment | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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2. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2015 | 2014 |
£ | £ |
Depreciation - owned assets |
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Directors' remuneration |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
2015 | 2014 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax | ( |
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Tax on profit on ordinary activities |
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4. | DIVIDENDS |
2015 | 2014 |
£ | £ |
Ordinary shares of £1 each |
Interim | 53,000 | 54,000 |
OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2015 |
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5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 6 April 2014 |
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Additions |
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At 5 April 2015 |
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DEPRECIATION |
At 6 April 2014 |
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Charge for year |
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At 5 April 2015 |
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NET BOOK VALUE |
At 5 April 2015 |
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At 5 April 2014 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Trade debtors | 18,427 | 32,085 |
Other debtors | 26 | 26 |
Directors' current accounts | 7,220 | - |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Corporation tax |
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Directors' current accounts | - | 10,793 |
Accrued expenses | 1,120 | 1,066 |
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8. | PROVISIONS FOR LIABILITIES |
2015 | 2014 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 6 April 2014 |
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Profit and Loss | ( |
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Balance at 5 April 2015 |
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OLPASS LIMITED (REGISTERED NUMBER: 06741811) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2015 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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10. | RESERVES |
Profit |
and loss |
account |
£ |
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At 6 April 2014 |
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Profit for the year |
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Dividends | ( |
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At 5 April 2015 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 5 April 2015 and |
5 April 2014: |
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2015 | 2014 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Balance outstanding at end of year |
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Last year Mr B Laan paid all expenses, except directors' salaries, on behalf of the company. This year |
the company repaid the loan and advanced the balance shown. This balance was repaid by |
December 2015. |
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12. | RELATED PARTY DISCLOSURES |
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Throughout the current period the company was under the joint control of Mr and Mrs Laan, directors |
and shareholders. |
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During the year, the company paid dividends of £53,000 (2014: £54,000) to Mr B Laan and Mrs S P F |
Laan, directors and shareholders. |