Olivegrove Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04163195 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

FOR

OLIVEGROVE INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Tangible assets

4

1,532

2,043

Investment property

5

3,286,700

3,230,000

3,288,232

3,232,043

CURRENT ASSETS

Debtors

6

14,339

43,813

Cash at bank and in hand

31,204

75,012

45,543

118,825

CREDITORS

Amounts falling due within one year

7

75,049

89,345

NET CURRENT (LIABILITIES)/ASSETS

(29,506

)

29,480

TOTAL ASSETS LESS CURRENT LIABILITIES

3,258,726

3,261,523

CREDITORS

Amounts falling due after more than one year

8

(1,298,833

)

(1,307,801

)

PROVISIONS FOR LIABILITIES

11

(157,170

)

(157,170

)

NET ASSETS

1,802,723

1,796,552

CAPITAL AND RESERVES

Called up share capital

12

4

4

Fair value reserve

13

1,542,098

1,542,098

Retained earnings

260,621

254,450

SHAREHOLDERS' FUNDS

1,802,723

1,796,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 November 2018 and were signed on its behalf by:

Mr L D Theodorou - Director

1.	STATUTORY INFORMATION

Olivegrove Investments Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts derived from rents charged to tenants during the year, and is recognised at the date

the rental period occurred.

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

Taxation

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

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2017

and 28 February 2018

16,213

DEPRECIATION

At 1 March 2017

14,170

Charge for year

511

At 28 February 2018

14,681

NET BOOK VALUE

At 28 February 2018

1,532

At 28 February 2017

2,043

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2017

3,230,000

Additions

56,700

At 28 February 2018

3,286,700

NET BOOK VALUE

At 28 February 2018

3,286,700

At 28 February 2017

3,230,000

Fair value at 28 February 2018 is represented by:

£

Valuation in 2004

328,450

Valuation in 2008

57,808

Valuation in 2011

11,280

Valuation in 2017

1,273,183

Cost

1,615,979

3,286,700

If investment properties had not been revalued they would have been included at the following historical cost:

28.2.18

28.2.17

£

£

Cost

1,615,979

1,559,279

Investment properties were valued on an open market basis on 28 February 2018 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Trade debtors

3,271

17,438

Amounts owed by related companies

11,068

26,375

14,339

43,813

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans and overdrafts (see note 9)

38,552

35,294

Tax

6,293

24,833

Other creditors

-

15,000

Directors' current accounts

22,428

10,000

Accrued expenses

7,776

4,218

75,049

89,345

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.18

28.2.17

£

£

Bank loans (see note 9)

1,298,833

1,307,801

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,144,625

1,166,626

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.18

28.2.17

£

£

Amounts falling due within one year or on demand:

Bank loans

38,552

35,294

28.2.18

28.2.17

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

154,208

141,175

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,144,625

1,166,626

10.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.18

28.2.17

£

£

Bank loans

1,337,385

1,343,095

11.	PROVISIONS FOR LIABILITIES

28.2.18

28.2.17

£

£

Deferred tax

157,170

157,170

Deferred

tax

£

Balance at 1 March 2017

157,170

Balance at 28 February 2018

157,170

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.18

28.2.17

value:

£

£

4

Ordinary

£1

4

4

13.

RESERVES

Fair

value

reserve

£

At 1 March 2017

and 28 February 2018

1,542,098