REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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FOR |
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The Real Olive Company Limited |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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FOR |
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The Real Olive Company Limited |
The Real Olive Company Limited (Registered number: 04417361) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the year ended 30 June 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
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Chartered Accountants' Report | 6 |
The Real Olive Company Limited |
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COMPANY INFORMATION |
for the year ended 30 June 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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BANKERS: |
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The Real Olive Company Limited (Registered number: 04417361) |
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ABBREVIATED BALANCE SHEET |
30 June 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Share premium |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 Real Olive Company Limited (Registered number: 04417361) |
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ABBREVIATED BALANCE SHEET - continued |
30 June 2016 |
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The financial statements were approved by the Board of Directors on
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The Real Olive Company Limited (Registered number: 04417361) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the year ended 30 June 2016 |
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1. | ACCOUNTING POLICIES |
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Fundamental accounting policy |
The financial statements have been prepared on a going concern basis because the directors have agreed not to |
withdraw their loan account until other creditors have been paid. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the |
balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2015 |
and 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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The Real Olive Company Limited (Registered number: 04417361) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the year ended 30 June 2016 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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4. | TRANSACTIONS WITH DIRECTORS |
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Amount owed to directors at 30 June 2016, were as follows: |
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B R Flight | £ |
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Brought forward at 1 July 2015 | 211,137 |
Introduced | - |
Repayments | (25,000 | ) |
Carried forward at 30 June 2016 | 186,137 |
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A Cox | £ |
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Brought forward at 1 July 2015 | 81,190 |
Introduced | - |
Repayments | - |
Carried forward at 30 June 2016 | 81,190 |
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R Jones | £ |
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Brought forward at 1 July 2015 | 19,735 |
Introduced | - |
Repayments | - |
Carried forward at 30 June 2016 | 19,735 |
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These loans have no fixed terms of repayment and are disclosed in creditors due in more than one year. |
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During the year under review, interest of £2,990 was accrued on the loan from A Cox, £4,476 on the loan from B |
Flight and £1,900 was accrued on the loan from R Jones. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
THE REAL OLIVE COMPANY LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of The Real Olive Company Limited for the year ended 30 June 2016 which comprise the Profit and |
Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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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. |
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This report is made solely to the Board of Directors of The Real Olive Company Limited, 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 The Real Olive Company Limited and state those matters that we have agreed to state to the Board of Directors of The Real Olive Company Limited, 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 The Real Olive Company Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that The Real Olive Company Limited 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 The Real Olive Company Limited. You consider that The Real Olive Company Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of The Real Olive Company Limited. 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. |
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Chartered Accountants |
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29 March 2017 |