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REGISTERED NUMBER: 14411371 (England and Wales)


Olive Branch Cafe Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2024






Olive Branch Cafe Limited (Registered number: 14411371)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Olive Branch Cafe Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr C Agcagul
Mr S Cagin



REGISTERED OFFICE: Unit B
Brantwood Industrial Estate
Brantwood Road
London
N17 0DX



REGISTERED NUMBER: 14411371 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Altan Kemal FCA FCCA



AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

Olive Branch Cafe Limited (Registered number: 14411371)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,729 103,950

CURRENT ASSETS
Stocks 5 4,045 2,659
Debtors 6 30,788 33,369
Cash at bank and in hand 3,752 2,605
38,585 38,633
CREDITORS
Amounts falling due within one year 7 438,028 236,668
NET CURRENT LIABILITIES (399,443 ) (198,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(304,714

)

(94,085

)

PROVISIONS FOR LIABILITIES 8 23,682 25,988
NET LIABILITIES (328,396 ) (120,073 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (328,496 ) (120,173 )
SHAREHOLDERS' FUNDS (328,396 ) (120,073 )

Olive Branch Cafe Limited (Registered number: 14411371)

Statement of Financial Position - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 September 2024 and were signed on its behalf by:




Mr S Cagin - Director



Mr C Agcagul - Director


Olive Branch Cafe Limited (Registered number: 14411371)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Olive Branch Cafe 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Masca Holdings Limited is the parent company of the group and copies of the consolidated accounts can be obtained from Unit 2, The Britannia Centre, Lenthall Road, Loughton, IG10 3SQ.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Olive Branch Cafe Limited (Registered number: 14411371)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 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.

Going concern
The company is dependent on the financial support from the parent company. The directors expect that this support will continue. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Olive Branch Cafe Limited (Registered number: 14411371)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and FF &
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 32,301 86,500 118,801
Additions 22,356 - 22,356
At 31 March 2024 54,657 86,500 141,157
DEPRECIATION
At 1 April 2023 4,038 10,813 14,851
Charge for year 12,655 18,922 31,577
At 31 March 2024 16,693 29,735 46,428
NET BOOK VALUE
At 31 March 2024 37,964 56,765 94,729
At 31 March 2023 28,263 75,687 103,950

5. STOCKS
2024 2023
£    £   
Finished goods 4,045 2,659

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,581 -
Amounts owed by group undertakings 10,800 -
Other debtors 407 33,369
30,788 33,369

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 167,256 108,421
Amounts owed to group undertakings 247,996 118,011
Taxation and social security 10,676 2,977
Other creditors 12,100 7,259
438,028 236,668

Olive Branch Cafe Limited (Registered number: 14411371)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax provision 23,682 25,988

Deferred
tax
£   
Balance at 1 April 2023 25,988
Credit to Income Statement during year (2,306 )
Balance at 31 March 2024 23,682

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 (120,173 )
Deficit for the year (208,323 )
At 31 March 2024 (328,496 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co

Olive Branch Cafe Limited (Registered number: 14411371)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

12. CONTINGENT LIABILITIES

All companies in the group are guarantors under a credit guarantee between Natwest Bank and Village Quality Products Limited. The balance outstanding at the year end was nil (2023 - nil).

The company has also provided guarantee under credit card arrangement between the Natwest Bank and the following companies in the group; Cyprofood Ltd, Village Quality Products Ltd and Masca Holding Ltd.

All companies in the group are guarantors under a overdraft facility between Natwest Bank and Cyprofood Limited. The balance outstanding at the year end was £2,997,988 (2023 - £1,987,556).

All companies in the group have guaranteed a loan between Natwest Bank (the lender) and RS Properties London Ltd (a subsidiary in the same group). The balance outstanding at the year end was£11,658,160 (2023 - £12,650,356).

13. PARENT COMPANY

The controlling party is Masca Holding Ltd.