OLIVE_AND_DAISY_LTD - Accounts

OLIVE AND DAISY LIMITED - Company Information

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Company Registration No. 07321437 (England and Wales)

OLIVE AND DAISY LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2016

OLIVE AND DAISY LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

OLIVE AND DAISY LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

39,833

52,873

Current assets

Stocks

1,050

Debtors

16,110

19,460

Cash at bank and in hand

12,293

13,671

29,453

34,181

Creditors: amounts falling due within one year

(29,398)

(40,314)

Net current assets/(liabilities)

(6,133)

Total assets less current liabilities

39,888

46,740

Creditors: amounts falling due after more than one year

(9,430)

(17,545)

30,458

29,195

Capital and reserves

Called up share capital

100

Profit and loss account

30,358

29,095

Shareholders' funds

30,458

29,195

For the financial year ended 31 July 2016 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 25 April 2017

Ms K Sebastiane

Director

Company Registration No. 07321437

OLIVE AND DAISY LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Computer equipment

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Fixed assets

Tangible assets

Cost

At 1 August 2015

125,594

Additions

239

At 31 July 2016

125,833

Depreciation

At 1 August 2015

72,721

Charge for the year

13,279

At 31 July 2016

86,000

Net book value

At 31 July 2016

39,833

At 31 July 2015

52,873

OLIVE AND DAISY LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100