Marianne Olyver & Her Orchestra Limited Company Accounts

MARIANNE OLYVER AND HER ORCHESTRA LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03495294

Marianne Olyver & Her Orchestra Limited

Unaudited Financial Statements

31 January 2017

Marianne Olyver & Her Orchestra Limited

Financial Statements

Year ended 31 January 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

Marianne Olyver & Her Orchestra Limited

Statement of Financial Position

31 January 2017

	2017		2016
Note	£	£	£

Current assets

Cash at bank and in hand	2,529		4,392

Creditors: amounts falling due within one year	6	14,018		31,669
		--------		--------
Net current liabilities			11,489	27,277
			--------	--------
Total assets less current liabilities			( 11,489)	( 27,277)
			--------	--------
Net liabilities			( 11,489)	( 27,277)
			--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 11,491)	( 27,279)
	--------	--------
Members deficit	( 11,489)	( 27,277)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 12 September 2017 , and are signed on behalf of the board by:

Ms M Olyver
Director

Company registration number: 03495294

Marianne Olyver & Her Orchestra Limited

Notes to the Financial Statements

Year ended 31 January 2017

1. General information

The company is a private company limited by shares, registered in . The address of the registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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 and fittings	-	25% straight line

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to Nil (2016: Nil).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 Feb 2016 and 31 Jan 2017	2,893
	-------
Depreciation
At 1 Feb 2016 and 31 Jan 2017	2,893
	-------
Carrying amount
At 31 January 2017	–
	-------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	14,018	31,669
	--------	--------

7. Director's advances, credits and guarantees

There are no such transactions for the accounting period.

8. Related party transactions

The company was under the control of Ms Marianne Olyver throughout the current and previous year. Ms Olyver is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.

No transitional adjustments were required in equity or profit or loss for the year.