OLENICK GLOBAL LTD

OLENICK GLOBAL LTD

OLENICK GLOBAL LTD - Company Information

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OLENICK GLOBAL LTD

Company Registration Number:
NI611669 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

OLENICK GLOBAL LTD

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

OLENICK GLOBAL LTD

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 85,739 100,832
Total fixed assets: 85,739 100,832
Current assets
Debtors:   269,830 140,083
Cash at bank and in hand: 39,084 74,301
Total current assets: 308,914 214,384
Creditors: amounts falling due within one year:   (67,678) (48,587)
Net current assets (liabilities): 241,236 165,797
Total assets less current liabilities: 326,975 266,629
Total net assets (liabilities): 326,975 266,629
Capital and reserves
Called up share capital: 936,222 936,222
Profit and loss account: (609,247) (669,593)
Shareholders funds: 326,975 266,629

The notes form part of these financial statements

OLENICK GLOBAL LTD

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 June 2020
and signed on behalf of the board by:

Name: Mr T Olenick
Status: Director

The notes form part of these financial statements

OLENICK GLOBAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Fixtures & fittings - 20% straight linePlant & equipment - 25% straight line

OLENICK GLOBAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 23 17

OLENICK GLOBAL LTD

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Tangible Assets

Total
Cost £
At 01 January 2019 115,327
Additions 8,819
At 31 December 2019 124,146
Depreciation
At 01 January 2019 14,495
Charge for year 23,912
At 31 December 2019 38,407
Net book value
At 31 December 2019 85,739
At 31 December 2018 100,832