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Registered Number: 12017244


 

 

 

OLIVES & FIGS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts OLIVES & FIGS LTD for the year ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OLIVES & FIGS LTD for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the Board of Directors of OLIVES & FIGS LTD , as a body, in accordance with the terms of our engagement letter dated 22 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of OLIVES & FIGS LTD and state those matters that we have agreed to state to the Board of Directors of OLIVES & FIGS LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OLIVES & FIGS LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that OLIVES & FIGS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit OLIVES & FIGS LTD. You consider that OLIVES & FIGS LTD is exempt from the statutory audit requirement for the year

We have not been instructed to carry out an audit or a review of the accounts of OLIVES & FIGS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Advantax Accountants
Suite 546, The Atrium
1 Harefield Road
Uxbridge
Middlesex
UB8 1EX
22 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 3,679    3,679 
Cash at bank and in hand 1,617    1,173 
5,296    4,852 
Creditors: amount falling due within one year   (1)
Net current assets 5,296    4,851 
 
Total assets less current liabilities 5,296    4,851 
Creditors: amount falling due after more than one year (41,095)   (47,604)
Net liabilities (35,799)   (42,753)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (35,800)   (42,754)
Shareholder's funds (35,799)   (42,753)
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 February 2024 and were signed on its behalf by:


-------------------------------
Hosni Oqab Hosni Sawafta
Director
2
General Information
OLIVES & FIGS LTD is a private company, limited by shares, registered in , registration number 12017244, registration address 36 East Acton Lane, LONDON ENGLAND, London, W3 7LB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3