Olivedon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06125090 (England and Wales)

Financial Statements

for the Year Ended 28 February 2021

for

Olivedon Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J M Bolland

K Bolton

J Ka Yin Wong

B Jones

F M Anderson

REGISTERED OFFICE:

The Catalyst

Baird Lane

York

North Yorkshire

YO10 5GA

REGISTERED NUMBER:

06125090 (England and Wales)

ACCOUNTANTS:

GCSD Accountants Limited

Chartered Accountants

701 Stonehouse Park

Sperry Way

Stonehouse

Gloucestershire

GL10 3UT

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Olivedon Ltd for the year ended 28 February 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Olivedon Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Olivedon Ltd and state those matters that we have agreed to state to the Board of Directors of Olivedon Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Olivedon Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Olivedon Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Olivedon Ltd. You consider that Olivedon Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Olivedon Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GCSD Accountants Limited

Chartered Accountants

13 May 2021

FIXED ASSETS

Tangible assets

4

3,842

2,668

CURRENT ASSETS

Debtors

5

120,270

83,353

Cash at bank

343,995

100,352

464,265

183,705

CREDITORS

Amounts falling due within one year

6

339,545

151,644

NET CURRENT ASSETS

124,720

32,061

TOTAL ASSETS LESS CURRENT LIABILITIES

128,562

34,729

CREDITORS

Amounts falling due after more than one year

7

41,667

-

NET ASSETS

86,895

34,729

CAPITAL AND RESERVES

Called up share capital

2,213

2,007

Share premium

53,937

51,155

Retained earnings

30,745

(18,433

)

SHAREHOLDERS' FUNDS

86,895

34,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2021 and were signed on its behalf by:

J M Bolland - Director

1.	STATUTORY INFORMATION

Olivedon 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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Government grants

Small Business Grants have been recognised as income in the period in which it becomes receivable.

The company has taken advantage of the government's Bounce Bank Loan Facility. The grant element relates to interest costs being covered for the first 12 months of the loan term. The income has been recognised on a systematic basis over periods in which the entity recognises the related costs for which the grant is intended to compensate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2020

22,867

Additions

3,342

At 28 February 2021

26,209

DEPRECIATION

At 1 March 2020

20,199

Charge for year

2,168

At 28 February 2021

22,367

NET BOOK VALUE

At 28 February 2021

3,842

At 29 February 2020

2,668

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

83,396

43,466

Other debtors

36,874

39,887

120,270

83,353

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,225

-

Taxation and social security

100,881

47,359

Other creditors

230,439

104,285

339,545

151,644

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

41,667

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,667

-