Green & Olive Legal Ltd 08937915 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Legal Services Digita Accounts Production Advanced 6.30.9574.0 true 08937915 2023-09-01 2024-08-31 08937915 2024-08-31 08937915 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-08-31 08937915 core:CurrentFinancialInstruments 2024-08-31 08937915 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 08937915 core:Non-currentFinancialInstruments 2024-08-31 08937915 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 08937915 core:FurnitureFittingsToolsEquipment 2024-08-31 08937915 core:LandBuildings 2024-08-31 08937915 bus:SmallEntities 2023-09-01 2024-08-31 08937915 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 08937915 bus:FilletedAccounts 2023-09-01 2024-08-31 08937915 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 08937915 bus:RegisteredOffice 2023-09-01 2024-08-31 08937915 bus:Director1 2023-09-01 2024-08-31 08937915 bus:Director2 2023-09-01 2024-08-31 08937915 bus:Director3 2023-09-01 2024-08-31 08937915 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08937915 bus:Agent1 2023-09-01 2024-08-31 08937915 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 08937915 core:LandBuildings 2023-09-01 2024-08-31 08937915 countries:England 2023-09-01 2024-08-31 08937915 2023-08-31 08937915 core:FurnitureFittingsToolsEquipment 2023-08-31 08937915 core:LandBuildings 2023-08-31 08937915 2022-09-01 2023-08-31 08937915 2023-08-31 08937915 core:CurrentFinancialInstruments 2023-08-31 08937915 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 08937915 core:Non-currentFinancialInstruments 2023-08-31 08937915 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 08937915 core:FurnitureFittingsToolsEquipment 2023-08-31 08937915 core:LandBuildings 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 08937915

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Company Information

Directors

Mr Mohamed Arif Awan

Mr Teyub Nasar Nasrullah

Mr Mohamed Asim Awan

Registered office

4 Whittall Street
Birmingham
B4 6DH

Accountants

RS Accountants Limited 23 Acfold Rd
Birmingham
B20 1HD

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

(Registration number: 08937915)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

693,978

696,513

Other financial assets

5

2,000

2,000

 

695,978

698,513

Current assets

 

Debtors

6

34,793

12,760

Cash at bank and in hand

 

63,474

110,803

 

98,267

123,563

Creditors: Amounts falling due within one year

7

(153,605)

(96,331)

Net current (liabilities)/assets

 

(55,338)

27,232

Total assets less current liabilities

 

640,640

725,745

Creditors: Amounts falling due after more than one year

7

(553,634)

(609,473)

Net assets

 

87,006

116,272

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

86,906

116,172

Shareholders' funds

 

87,006

116,272

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr Mohamed Arif Awan
Director

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
4 Whittall Street
Birmingham
B4 6DH
England

These financial statements were authorised for issue by the Board on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Comparative adjustments have been made to incorporate a previously omitted loan. Other opening balances have been adjusted accordingly to reflect this inclusion.

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 17).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

663,813

43,600

707,413

Additions

-

11,153

11,153

At 31 August 2024

663,813

54,753

718,566

Depreciation

At 1 September 2023

-

10,900

10,900

Charge for the year

-

13,688

13,688

At 31 August 2024

-

24,588

24,588

Carrying amount

At 31 August 2024

663,813

30,165

693,978

At 31 August 2023

663,813

32,700

696,513

Included within the net book value of land and buildings above is £663,813 (2023 - £663,813) in respect of freehold land and buildings.
 

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

2,000

2,000

At 31 August 2024

2,000

2,000

Impairment

Carrying amount

At 31 August 2024

2,000

2,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

34,793

7,296

Other debtors

-

5,464

 

34,793

12,760

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

(24,000)

(24,000)

Trade creditors

 

8,910

3,940

Taxation and social security

 

143,155

90,557

Other creditors

 

25,540

25,834

 

153,605

96,331

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

553,634

609,473

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Share capital

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

516,234

531,573

Other borrowings

37,400

77,900

553,634

609,473

Current loans and borrowings

2024
£

2023
£

Other borrowings

(24,000)

(24,000)

10

Dividends

2024

2023

£

£

 

 

11

Related party transactions

 

Green & Olive Legal Ltd

trading as Green & Olive Solicitors

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

47,046

58,412