Company Registration No. 04290086 (England and Wales)
Dos Olivos (UK) Limited
Annual report and unaudited financial statements
for the year ended 31 December 2023
Dos Olivos (UK) Limited
Company information
Director
Richard Underwood
Secretary
Christopher Daynes
Company number
04290086
Registered office
Streathers Highgate LLP
1 Heath Street
London
NW3 6TP
Accountants
Saffery LLP
71 Queen Victoria Street
London
EC4V 4BE
Dos Olivos (UK) Limited
Contents
Page
Director's report
1
Accountants' report
2
Statement of financial position
3
Notes to the financial statements
4 - 7
Dos Olivos (UK) Limited
Director's report
For the year ended 31 December 2023
1
The director presents his report and financial statements for the year ended 31 December 2023.
Principal activities
The principal activity of the company is that of the non trading parent company of Dos Olivos S.L.
Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Richard Underwood
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Richard Underwood
Director
21 September 2024
Dos Olivos (UK) Limited
Accountants' report to the Director on the preparation of the unaudited statutory financial statements of Dos Olivos (UK) Limited for the year ended 31 December 2023
2

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dos Olivos (UK) Limited for the year ended 31 December 2023 set out on pages 3 to 7 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 icaew.com/regulation.

This report is made solely to the Board of Directors of Dos Olivos (UK) Limited, as a body, in accordance with the terms of our current engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Dos Olivos (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Dos Olivos (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dos Olivos (UK) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Dos Olivos (UK) 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 result of Dos Olivos (UK) Limited. You consider that Dos Olivos (UK) 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 Dos Olivos (UK) 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.

Saffery LLP
23 September 2024
71 Queen Victoria Street
London
EC4V 4BE
Dos Olivos (UK) Limited
Statement of financial position
As at 31 December 2023
3
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
2
2,365,450
2,325,450
Creditors: amounts falling due within one year
3
(2,365,449)
(2,325,449)
Net current liabilities
(2,365,449)
(2,325,449)
Total assets less current liabilities
1
1
Capital and reserves
Called up share capital
4
1
1

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 September 2024
Richard Underwood
Director
Company Registration No. 04290086
Dos Olivos (UK) Limited
Notes to the financial statements
For the year ended 31 December 2023
4
1
Accounting policies
Company information

Dos Olivos (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Streathers Highgate LLP, 1 Heath Street, London, NW3 6TP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dos Olivos (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
1
Accounting policies (continued)
5
Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
Dos Olivos (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
6
2
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,931,316
1,931,316
Loans to group undertakings and participating interests
434,134
394,134
2,365,450
2,325,450
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 January 2023
1,931,316
394,134
2,325,450
Additions
-
40,000
40,000
At 31 December 2023
1,931,316
434,134
2,365,450
Carrying amount
At 31 December 2023
1,931,316
434,134
2,365,450
At 31 December 2022
1,931,316
394,134
2,325,450
3
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,365,449
2,325,449
4
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
50,000 Ordinary shares of £1 each
50,000
50,000
Issued and fully paid
1 Ordinary share of £1 each
1
1
Dos Olivos (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2023
7
5
Related party transactions

At the balance sheet date, the company owed £1,575,425 (2022 - £1,575,425) to Merilee Honour, the sole shareholder of the company.

 

During the period, funding of £40,000 (2022 - £39,970) was received from British Amalgamated Theatres Limited, a company in which Merilee Honour has an interest and of which Richard Underwood, director, was also a director. At the balance sheet date the company owed British Amalgamated Theatres Limited £790,024 (2022 - £750,024 ). This loan is non interest bearing and is repayable in full on 30 June 2024, subject to an annual rolling agreement.

 

During the period, the company provided loan funding of £40,000 (2022 - £39,970) to Dos Olivos S.L., a subsidiary undertaking of the company. At the balance sheet date the company was owed £434,134

(2022 - £394,134) by Dos Olivos S.L.

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