Company Registration No. 9699776 (England and Wales)
Olive & Squash Limited
Unaudited accounts
for the year ended 30 June 2024
Olive & Squash Limited
Unaudited accounts
Contents
Olive & Squash Limited
Company Information
for the year ended 30 June 2024
Directors
Sofia Claudia Maria Bombieri
Olivia Christine Stolt-Nielsen Holten
Company Number
9699776 (England and Wales)
Registered Office
8
Great New Street
London
EC4A 3BN
Accountants
Gains Accountants
Queen Elizabeth Olympic Park
Plexal, 14 East Bay Lane
London
E20 3BS
Olive & Squash Limited
Statement of financial position
as at 30 June 2024
Tangible assets
151,534
180,937
Cash at bank and in hand
205,896
187,069
Creditors: amounts falling due within one year
(153,565)
(293,135)
Net current assets/(liabilities)
140,793
(32,054)
Total assets less current liabilities
292,327
148,883
Creditors: amounts falling due after more than one year
(26,106)
(26,351)
Net assets
266,221
122,532
Called up share capital
12,213
12,213
Share premium
939,787
939,787
Profit and loss account
(685,779)
(829,468)
Shareholders' funds
266,221
122,532
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
Sofia Claudia Maria Bombieri
Director
Company Registration No. 9699776
Olive & Squash Limited
Notes to the Accounts
for the year ended 30 June 2024
Olive & Squash Limited is a private company, limited by shares, registered in England and Wales, registration number 9699776. The registered office is 8, Great New Street, London, EC4A 3BN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on Straight Line Basis
Fixtures & fittings
in accordance with the leased property
Computer equipment
25% on Straight Line Basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Olive & Squash Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
95,742
296,836
848
393,426
At 30 June 2024
96,255
296,836
848
393,939
At 1 July 2023
95,741
116,376
372
212,489
Charge for the year
114
29,683
119
29,916
At 30 June 2024
95,855
146,059
491
242,405
At 30 June 2024
400
150,777
357
151,534
At 30 June 2023
1
180,460
476
180,937
Amounts falling due within one year
Accrued income and prepayments
22,500
-
Amounts falling due after more than one year
Other debtors
45,000
45,000
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
9,747
Trade creditors
16,712
28,289
Taxes and social security
10,485
15,075
Loans from directors
81,195
211,040
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
12,213 Ordinary shares of £1 each
12,213
12,213
Olive & Squash Limited
Notes to the Accounts
for the year ended 30 June 2024
9
Operating lease commitments
2024
2023
At 30 June 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
90,000
90,000
Later than one year and not later than five years
105,000
195,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Sofia Claudia Maria Bombieri
Director's Loan Account
181,445
-
100,250
81,195
Olivia Christine Stolt-Nielsen Holten
Director's Loan Account
29,596
-
29,596
-
11
Average number of employees
During the year the average number of employees was 23 (2023: 18).