IRIS Accounts Production v22.2.0.402 05422077 director 1.10.20 30.9.21 30.9.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure054220772020-09-30054220772021-09-30054220772020-10-012021-09-30054220772019-09-30054220772019-10-012020-09-30054220772020-09-3005422077ns16:EnglandWales2020-10-012021-09-3005422077ns15:PoundSterling2020-10-012021-09-3005422077ns11:Director12020-10-012021-09-3005422077ns11:PrivateLimitedCompanyLtd2020-10-012021-09-3005422077ns11:SmallEntities2020-10-012021-09-3005422077ns11:AuditExempt-NoAccountantsReport2020-10-012021-09-3005422077ns11:SmallCompaniesRegimeForDirectorsReport2020-10-012021-09-3005422077ns11:SmallCompaniesRegimeForAccounts2020-10-012021-09-3005422077ns11:FullAccounts2020-10-012021-09-300542207712020-10-012021-09-3005422077ns11:RegisteredOffice2020-10-012021-09-3005422077ns6:CurrentFinancialInstruments2021-09-3005422077ns6:CurrentFinancialInstruments2020-09-3005422077ns6:Non-currentFinancialInstruments2021-09-3005422077ns6:Non-currentFinancialInstruments2020-09-3005422077ns6:ShareCapital2021-09-3005422077ns6:ShareCapital2020-09-3005422077ns6:RetainedEarningsAccumulatedLosses2021-09-3005422077ns6:RetainedEarningsAccumulatedLosses2020-09-3005422077ns6:NetGoodwill2020-10-012021-09-3005422077ns6:IntangibleAssetsOtherThanGoodwill2020-10-012021-09-3005422077ns6:FurnitureFittings2020-10-012021-09-3005422077ns6:MotorVehicles2020-10-012021-09-3005422077ns6:ComputerEquipment2020-10-012021-09-3005422077ns6:NetGoodwill2020-09-3005422077ns6:NetGoodwill2021-09-3005422077ns6:NetGoodwill2020-09-3005422077ns6:PlantMachinery2020-09-3005422077ns6:PlantMachinery2020-10-012021-09-3005422077ns6:PlantMachinery2021-09-3005422077ns6:PlantMachinery2020-09-3005422077ns6:WithinOneYearns6:CurrentFinancialInstruments2021-09-3005422077ns6:WithinOneYearns6:CurrentFinancialInstruments2020-09-3005422077ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-09-3005422077ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2020-09-30
REGISTERED NUMBER: 05422077 (England and Wales)















Unaudited Financial Statements For The Year Ended 30th September 2021

for

Olephant Ltd
T/A
Olephant Solicitors

Olephant Ltd (Registered number: 05422077)
T/A Olephant Solicitors






Contents of the Financial Statements
For The Year Ended 30th September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Olephant Ltd
T/A Olephant Solicitors

Company Information
For The Year Ended 30th September 2021







DIRECTOR: J Mugerwa





REGISTERED OFFICE: Fifth Floor
4 Snow Hill
London
EC1A 2DJ





REGISTERED NUMBER: 05422077 (England and Wales)





ACCOUNTANTS: Dua & Co. Limited
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

Olephant Ltd (Registered number: 05422077)
T/A Olephant Solicitors

Balance Sheet
30th September 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,729 7,641
3,729 7,641

CURRENT ASSETS
Debtors 6 1,047,942 807,813
Cash at bank 20,887 31,361
1,068,829 839,174
CREDITORS
Amounts falling due within one year 7 (721,639 ) (728,180 )
NET CURRENT ASSETS 347,190 110,994
TOTAL ASSETS LESS CURRENT LIABILITIES 350,919 118,635

CREDITORS
Amounts falling due after more than one year 8 (150,000 ) (50,000 )
NET ASSETS 200,919 68,635

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 200,918 68,634
SHAREHOLDERS' FUNDS 200,919 68,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2021 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 13th September 2022 and were signed by:



J Mugerwa - Director


Olephant Ltd (Registered number: 05422077)
T/A Olephant Solicitors

Notes to the Financial Statements
For The Year Ended 30th September 2021

1. STATUTORY INFORMATION

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

Turnover
Turnover represents net invoiced sale of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 6 (2020 - 9 ) .

Olephant Ltd (Registered number: 05422077)
T/A Olephant Solicitors

Notes to the Financial Statements - continued
For The Year Ended 30th September 2021

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2020
and 30th September 2021 250,000
AMORTISATION
At 1st October 2020
and 30th September 2021 250,000
NET BOOK VALUE
At 30th September 2021 -
At 30th September 2020 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2020 42,108
Disposals (3,499 )
At 30th September 2021 38,609
DEPRECIATION
At 1st October 2020 34,467
Charge for year 1,241
Eliminated on disposal (828 )
At 30th September 2021 34,880
NET BOOK VALUE
At 30th September 2021 3,729
At 30th September 2020 7,641

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 545,593 388,556
Provision for bad debts (26,136 ) (26,136 )
Amounts owed by participating interests 503,777 427,199
Other debtors 1,578 1,433
Prepayments and accrued income 23,130 16,761
1,047,942 807,813

Olephant Ltd (Registered number: 05422077)
T/A Olephant Solicitors

Notes to the Financial Statements - continued
For The Year Ended 30th September 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 269,825 109,349
Trade creditors 207,750 176,421
Tax 99,148 130,710
Social security and other taxes 6,318 5,758
VAT 72,093 89,065
Directors' current accounts 555 927
Accruals and deferred income - 150,000
Accrued expenses 65,950 65,950
721,639 728,180

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans - 1-2 years 150,000 50,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is J Mugerwa.

10. CLIENT MONIES HELD

At 30 September 2021, the company held £213,525 (2020: £142,401) on behalf of its clients.