Joel Oliver Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10512022 (England and Wales)

Financial Statements for the Period 1 January 2020 to 27 November 2020

for

Joel Oliver Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Oliver

REGISTERED OFFICE:

7 Coventry Gardens

Herne Bay

Kent

CT6 6SD

REGISTERED NUMBER:

10512022 (England and Wales)

ACCOUNTANTS:

A.K & Co (Accountancy Services) Ltd

19 Victoria Terrace

Hove

East Sussex

BN3 2WB

FIXED ASSETS

Tangible assets

4

2

2,230

CURRENT ASSETS

Debtors

5

-

9,350

Cash at bank

-

7,279

-

16,629

CREDITORS

Amounts falling due within one year

6

4,128

16,575

NET CURRENT (LIABILITIES)/ASSETS

(4,128

)

54

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,126

)

2,284

PROVISIONS FOR LIABILITIES

-

424

NET (LIABILITIES)/ASSETS

(4,126

)

1,860

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(4,127

)

1,859

SHAREHOLDERS' FUNDS

(4,126

)

1,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 November 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 30 November 2020 and were signed by:

J Oliver - Director

1.	STATUTORY INFORMATION

Joel Oliver 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

5,849

Additions

399

Disposals

(6,248

)

At 27 November 2020

-

DEPRECIATION

At 1 January 2020

3,619

Charge for period

1,454

Eliminated on disposal

(5,075

)

At 27 November 2020

(2

)

NET BOOK VALUE

At 27 November 2020

2

At 31 December 2019

2,230

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

8,500

Other debtors

-

850

-

9,350

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

5,178

-

Trade creditors

-

62

Taxation and social security

(1,050

)

5,781

Other creditors

-

10,732

4,128

16,575

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 27 November 2020 and the year ended 31 December 2019:

2020

2019

£

£

J Oliver

Balance outstanding at start of period

(9,790

)

(8,540

)

Amounts advanced

16,133

1,001

Amounts repaid

(6,343

)

(2,251

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

(9,790

)

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J Oliver.