Registered number
11042976
Olive Nabili Ltd
Filleted Accounts
30 November 2024
Olive Nabili Ltd
Registered number: 11042976
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,000 10,000
Tangible assets 4 72,004 15,591
82,004 25,591
Current assets
Stocks 1,550 1,210
Debtors 5 1,382 2,821
Cash at bank and in hand 27,434 86,385
30,366 90,416
Creditors: amounts falling due within one year 6 (56,719) (51,636)
Net current (liabilities)/assets (26,353) 38,780
Total assets less current liabilities 55,651 64,371
Creditors: amounts falling due after more than one year 7 (16,200) (25,800)
Net assets 39,451 38,571
Capital and reserves
Called up share capital 10 10
Profit and loss account 39,441 38,561
Shareholder's funds 39,451 38,571
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rachid Nabili
Director
Approved by the board on 21 February 2025
Olive Nabili Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Building Revovations 3% on reducing balance method
Plant and machinery 18% on reducing balance method
Fixtures, fittings, tools and equipment 18% on reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 10,000
At 30 November 2024 10,000
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 10,000
At 30 November 2023 10,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 - 15,591 15,591
Additions 50,108 12,944 63,052
At 30 November 2024 50,108 28,535 78,643
Depreciation
Charge for the year 1,503 5,136 6,639
At 30 November 2024 1,503 5,136 6,639
Net book value
At 30 November 2024 48,605 23,399 72,004
At 30 November 2023 - 15,591 15,591
5 Debtors 2024 2023
£ £
Other debtors 1,382 2,821
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,015 12,900
Taxation and social security costs 27,046 38,736
Other creditors 16,658 -
56,719 51,636
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,200 25,800
8 Other information
Olive Nabili Ltd is a private company limited by shares and incorporated in England. Its registered office is:
762 Ecclesall Road
Sheffield
S11 8TB
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