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REGISTERED NUMBER: OC430300 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Olivetree Wealth LLP

Olivetree Wealth LLP (Registered number: OC430300)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Olivetree Wealth LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: OT Wealth Limited





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: OC430300 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Olivetree Wealth LLP (Registered number: OC430300)

Report of the Members
for the Year Ended 31 March 2023

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of financial services.

DESIGNATED MEMBERS
The designated members during the year under review were:

OT Wealth Limited
Soundview Holdings Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £114,571 (2022 - £105,983 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





OT Wealth Limited - Designated member


2 October 2023

Olivetree Wealth LLP (Registered number: OC430300)

Income Statement
for the Year Ended 31 March 2023

Period
1.2.21
Year Ended to
31.3.23 31.3.22
Notes £    £   

TURNOVER 314,185 196,677

Cost of sales 61,734 12,136
GROSS PROFIT 252,451 184,541

Administrative expenses 137,990 78,560
OPERATING PROFIT 4 114,461 105,981

Interest receivable and similar income 110 2
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




114,571




105,983

Olivetree Wealth LLP (Registered number: OC430300)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 3,750 -
Tangible assets 6 687 724
4,437 724

CURRENT ASSETS
Cash at bank 50,978 55,985

CREDITORS
Amounts falling due within one year 7 1,439 2,198
NET CURRENT ASSETS 49,539 53,787
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

53,976

54,511

LOANS AND OTHER DEBTS DUE TO
MEMBERS

53,976

54,511

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 53,976 54,511

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 2 October 2023 and were signed by:





OT Wealth Limited - Designated member

Olivetree Wealth LLP (Registered number: OC430300)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Olivetree Wealth LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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 2023, is being amortised evenly over its estimated useful life of two 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.
Plant and machinery etc - 33% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.2.21
Year Ended to
31.3.23 31.3.22
£    £   
Depreciation - owned assets 525 362
Goodwill amortisation 3,750 -

Olivetree Wealth LLP (Registered number: OC430300)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 7,500
At 31 March 2023 7,500
AMORTISATION
Charge for year 3,750
At 31 March 2023 3,750
NET BOOK VALUE
At 31 March 2023 3,750

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,086
Additions 488
At 31 March 2023 1,574
DEPRECIATION
At 1 April 2022 362
Charge for year 525
At 31 March 2023 887
NET BOOK VALUE
At 31 March 2023 687
At 31 March 2022 724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 449 1,253
Other creditors 990 945
1,439 2,198