Olivegrove Investments Limited - Abbreviated accounts 16.3

Olivegrove Investments Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: 04163195 (England and Wales)







ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

FOR

OLIVEGROVE INVESTMENTS LIMITED

OLIVEGROVE INVESTMENTS LIMITED (REGISTERED NUMBER: 04163195)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

OLIVEGROVE INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2016







DIRECTORS: Mr C Capsalis
Mr L D Theodorou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 04163195 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

OLIVEGROVE INVESTMENTS LIMITED (REGISTERED NUMBER: 04163195)

ABBREVIATED BALANCE SHEET
29 FEBRUARY 2016

29.2.16 28.2.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 2,724 3,632
Investment property 3 1,956,817 1,956,817
1,959,541 1,960,449

CURRENT ASSETS
Debtors 26,375 46,375
Cash at bank and in hand 82,932 120,974
109,307 167,349
CREDITORS
Amounts falling due within one year 4 85,913 205,857
NET CURRENT ASSETS/(LIABILITIES) 23,394 (38,508 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,982,935

1,921,941

CREDITORS
Amounts falling due after more than one
year

4

1,309,327

1,314,219
NET ASSETS 673,608 607,722

CAPITAL AND RESERVES
Called up share capital 5 4 4
Revaluation reserve 418,895 418,895
Profit and loss account 254,709 188,823
SHAREHOLDERS' FUNDS 673,608 607,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2016 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.

OLIVEGROVE INVESTMENTS LIMITED (REGISTERED NUMBER: 04163195)

ABBREVIATED BALANCE SHEET - continued
29 FEBRUARY 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 29 April 2016 and were signed on its behalf by:





Mr C Capsalis - Director


OLIVEGROVE INVESTMENTS LIMITED (REGISTERED NUMBER: 04163195)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January
2015).

Turnover
Turnover represents rents receivable.

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 reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

The company's properties are held for long-term investment and are included in the Balance Sheet at their current
market values. Depreciation is not provided on these investment properties.

This policy represents a departure from statutory accounting principles, which require depreciation to be
provided on all fixed assets. The directors consider that this policy is necessary in order for the accounts to give
a true and fair view, as current values and changes in current values are of prime importance rather than the
calculation of systematic annual depreciation.

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

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 March 2015
and 29 February 2016 16,213
DEPRECIATION
At 1 March 2015 12,581
Charge for year 908
At 29 February 2016 13,489
NET BOOK VALUE
At 29 February 2016 2,724
At 28 February 2015 3,632

OLIVEGROVE INVESTMENTS LIMITED (REGISTERED NUMBER: 04163195)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2016


3. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2015
and 29 February 2016 1,956,817
NET BOOK VALUE
At 29 February 2016 1,956,817
At 28 February 2015 1,956,817

4. CREDITORS

Creditors include an amount of £ 1,347,942 (28.2.15 - £ 1,352,834 ) for which security has been given.

They also include the following debts falling due in more than five years:

29.2.16 28.2.15
£    £   
Repayable by instalments 1,154,868 1,159,760

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.16 28.2.15
value: £    £   
4 Ordinary £1 4 4