Company registration number 13033469 (England and Wales)
OLIVE HERB CATERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
OLIVE HERB CATERING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OLIVE HERB CATERING LTD
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,896
9,358
Current assets
Stocks
19,000
15,000
Debtors
4
25,553
26,951
Cash at bank and in hand
121,698
34,492
166,251
76,443
Creditors: amounts falling due within one year
5
(211,407)
(89,336)
Net current liabilities
(45,156)
(12,893)
Net liabilities
(37,260)
(3,535)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(37,360)
(3,635)
Total equity
(37,260)
(3,535)

The notes on pages 2 to 4 form part of these financial statements.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 members have 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 and delivered 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 14 February 2025
Mr P Gallagher
Director
Company Registration No. 13033469
OLIVE HERB CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Olive Herb Catering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 13 Market Square, Higham Ferrers, Northants, NN10 8DJ.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Catering equipment and furniture
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost comprises purchase cost from the supplier and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

OLIVE HERB CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
23
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
12,070
Additions
1,190
At 30 November 2023
13,260
Depreciation and impairment
At 1 December 2022
2,712
Depreciation charged in the year
2,652
At 30 November 2023
5,364
Carrying amount
At 30 November 2023
7,896
At 30 November 2022
9,358
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
553
1,951
Other debtors
25,000
25,000
25,553
26,951
OLIVE HERB CATERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
148
10,988
Taxation and social security
142,785
41,342
Other creditors
68,474
37,006
211,407
89,336
6
Related party transactions

The company is controlled by the director who is the major shareholder.

 

The director introduced £2,073 in the year (2022 - he withdrew £9,718).. At the year end the company owed the director £33,433 (2022 £31,360). This is included in other creditors.

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