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REGISTERED NUMBER: 09098236 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Add-Olives Ltd

Add-Olives Ltd (Registered number: 09098236)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Add-Olives Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms C C Garrido
A Verrilli





REGISTERED OFFICE: 5 Fortune Way
Triangle Business Estate
London
NW10 6UF





REGISTERED NUMBER: 09098236 (England and Wales)






Add-Olives Ltd (Registered number: 09098236)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 16,312 20,373

CURRENT ASSETS
Inventories 70,625 68,097
Debtors 5 251,365 240,579
Cash at bank 65,326 112,837
387,316 421,513
CREDITORS
Amounts falling due within one year 6 235,361 248,930
NET CURRENT ASSETS 151,955 172,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,267

192,956

CREDITORS
Amounts falling due after more than
one year

7

47,592

45,210
NET ASSETS 120,675 147,746

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 120,575 147,646
120,675 147,746

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Add-Olives Ltd (Registered number: 09098236)

Balance Sheet - 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.

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 22 October 2024 and were signed on its behalf by:





A Verrilli - Director


Add-Olives Ltd (Registered number: 09098236)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Add-Olives Ltd 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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discount, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of the tangible fixed assets over their expected useful lives as follows:

Plant & Machinery - 25% per annum on cost
Motor Vehicle - 25% per annum on cost
Computer equipment - 25% per annum on cost

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

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for the current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


Add-Olives Ltd (Registered number: 09098236)

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 material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 113,653
Additions 31,155
At 31 March 2024 144,808
DEPRECIATION
At 1 April 2023 93,280
Charge for year 35,216
At 31 March 2024 128,496
NET BOOK VALUE
At 31 March 2024 16,312
At 31 March 2023 20,373

Add-Olives Ltd (Registered number: 09098236)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 220,512 208,735
Other debtors 30,853 31,844
251,365 240,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,478 3,739
Hire purchase contracts 16,743 8,091
Trade creditors 149,480 154,026
Taxation and social security 8,142 26,811
Other creditors 59,518 56,263
235,361 248,930

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 23,456 32,389
Hire purchase contracts 24,136 12,821
47,592 45,210

8. RELATED PARTY DISCLOSURES

The controlling parties are A Verrilli and CC Carrido, company directors, acting in concert.

As at year end, amount due to the directors was £56,118 (2022: £53,150)