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REGISTERED NUMBER: 10063372 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 March 2023

for

Olive Tree Assets Limited

Olive Tree Assets Limited (Registered number: 10063372)






Contents of the Financial Statements
for the year ended 30 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Olive Tree Assets Limited

Company Information
for the year ended 30 March 2023







DIRECTORS: Mrs K Hayworth
C S Hayworth





REGISTERED OFFICE: St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE





REGISTERED NUMBER: 10063372 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Olive Tree Assets Limited (Registered number: 10063372)

Balance Sheet
30 March 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 2,639 3,298
Investment property 5 479,920 472,120
482,559 475,418

CURRENT ASSETS
Debtors 6 150 -
Cash at bank 65,476 4,848
65,626 4,848
CREDITORS
Amounts falling due within one year 7 (214,753 ) (150,608 )
NET CURRENT LIABILITIES (149,127 ) (145,760 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

333,432

329,658

CREDITORS
Amounts falling due after more than one year 8 (246,736 ) (246,736 )

PROVISIONS FOR LIABILITIES (11,221 ) (9,739 )
NET ASSETS 75,475 73,183

CAPITAL AND RESERVES
Called up share capital 10 2 2
Non-distributable reserves 47,841 41,523
Retained earnings 27,632 31,658
75,475 73,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

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
(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 Board of Directors and authorised for issue on 20 November 2023 and were signed on its behalf by:



C S Hayworth - Director


Olive Tree Assets Limited (Registered number: 10063372)

Notes to the Financial Statements
for the year ended 30 March 2023

1. STATUTORY INFORMATION

Olive Tree Assets 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

These financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the company's directors. The directors believe that it is appropriate for these financial statements to be prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings- 20% on reducing balance

Investment property
Investment properties are initially measured at cost plus costs directly attributable to the acquisition. Subsequent measurement is with reference to fair value with any increases credited to the income statement and transferred to a non-distributable reserve. Any diminution in fair value, below that of amounts already credited to this reserve, are charged to the income statement. Any increases in property values which were previously charged to the income statement are credited from the income statement to the extent that the original charge is reversed.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Share capital
Ordinary shares are classed as equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Olive Tree Assets Limited (Registered number: 10063372)

Notes to the Financial Statements - continued
for the year ended 30 March 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 31 March 2022
and 30 March 2023 10,061
DEPRECIATION
At 31 March 2022 6,763
Charge for year 659
At 30 March 2023 7,422
NET BOOK VALUE
At 30 March 2023 2,639
At 30 March 2022 3,298

5. INVESTMENT PROPERTY
Total
£
COST OR VALUATION
At 31 March 2022 472,120
Revaluations 7,800
At 30 March 2023 479,920
NET BOOK VALUE
At 30 March 2023 479,920
At 30 March 2022 472,120

Cost or valuation at 30 March 2023 is represented by:
£
Valuation in 2019 420,858
Valuation in 2020 25,000
Valuation in 2021 26,262
Valuation in 2023 7,800
479,920

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£ £
Cost 420,858 420,858

Investment property was valued on an open market basis on 31 March 2023 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 150 -

Olive Tree Assets Limited (Registered number: 10063372)

Notes to the Financial Statements - continued
for the year ended 30 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Taxation and social security - 1,063
Other creditors 214,753 149,545
214,753 150,608

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 246,736 246,736

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 246,736 246,736

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 246,736 246,736

The bank loans are secured by way of a first legal charge over the freehold land and buildings and a fixed and floating charge over all other assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal Total
value: £

52 Ordinary £0.01 1
52 Ordinary A £0.01 1
48 Ordinary B £0.01 -
48 Ordinary C £0.01 -

2

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors are owed £213,764 (2022: £148,645) which is repayable on demand and attracts no interest.