COMPANY REGISTRATION NUMBER:
11040266
The Olive Tree Grill Limited |
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Filleted Unaudited Financial Statements |
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The Olive Tree Grill Limited |
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Year ended 31 October 2023
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
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Statement of financial position |
2 |
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Notes to the financial statements |
3 to 4 |
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The Olive Tree Grill Limited |
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Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
The Olive Tree Grill Limited |
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Year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Olive Tree Grill Limited for the year ended 31 October 2023, which comprise the statement of financial position 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of The Olive Tree Grill Limited in accordance with the terms of our engagement letter dated 21 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of The Olive Tree Grill Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Olive Tree Grill Limited and its director for our work or for this report.
It is your duty to ensure that The Olive Tree Grill Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Olive Tree Grill Limited. You consider that The Olive Tree Grill Limited 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 financial statements of The Olive Tree Grill Limited. 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 financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
27 July 2024
The Olive Tree Grill Limited |
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Statement of Financial Position |
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31 October 2023
Current assets
Debtors |
5 |
– |
375 |
Cash at bank and in hand |
9,186 |
229 |
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------- |
---- |
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9,186 |
604 |
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Creditors: amounts falling due within one year |
6 |
9,186 |
2,268 |
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------- |
------- |
Net current liabilities |
– |
1,664 |
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---- |
------- |
Total assets less current liabilities |
– |
(
1,664) |
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Creditors: amounts falling due after more than one year |
7 |
– |
34,000 |
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---- |
-------- |
Net liabilities |
– |
(
35,664) |
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---- |
-------- |
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Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
(
100) |
(
35,764) |
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---- |
-------- |
Shareholders deficit |
– |
(
35,664) |
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---- |
-------- |
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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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
27 July 2024
, and are signed on behalf of the board by:
Company registration number:
11040266
The Olive Tree Grill Limited |
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Notes to the Financial Statements |
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Year ended 31 October 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 61a Sheffield Road, Dronfield, Sheffield, Derbyshire, S18 6GF, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Termination
Following the termination of all activities, the company has facilitated the realisation of all assets and the settlement of all liabilities with the intention of making application to the Registrar of Companies for a voluntary striking off arrangement.
4.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
5.
Debtors
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2023 |
2022 |
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£ |
£ |
Other debtors |
– |
375 |
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---- |
---- |
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6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
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£ |
£ |
Trade creditors |
1,092 |
870 |
Corporation tax |
7,374 |
542 |
Other creditors |
720 |
856 |
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------- |
------- |
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9,186 |
2,268 |
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------- |
------- |
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7.
Creditors:
amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
Other creditors |
– |
34,000 |
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---- |
-------- |
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8.
Director's advances, credits and guarantees
At the start of the year, on 1 November 2022, the company was indebted to
Mr B Sabzevari
, by way of loan, in the sum of £34,131. As a result of repayments made during the year of £39,400, and further advances of £9,497, the resultant loan balance amounted to £4,228 owing to the director, which balance the director has agreed to waive and to allow to be written off leaving no remaining balance outstanding as at 31 October 2023.