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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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FOR |
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The Real Olive Company Limited |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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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 FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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The Real Olive Company Limited |
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COMPANY INFORMATION |
for the year ended 30 June 2017 |
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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 |
3 Kings Court |
Little King Street |
Bristol |
BS1 4HW |
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BANKERS: |
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Corn Street |
Bristol |
The Real Olive Company Limited (Registered number: 04417361) |
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BALANCE SHEET |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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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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BALANCE SHEET - continued |
30 June 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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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 FINANCIAL STATEMENTS |
for the year ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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The Real Olive Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Fundamental accounting policy |
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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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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
The Real Olive Company Limited (Registered number: 04417361) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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The Real Olive Company Limited (Registered number: 04417361) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2017 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Directors current accounts | 269,230 | 287,062 |
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8. | TRANSACTIONS WITH DIRECTORS |
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Amount owed to directors at 30 June 2017, were as follows: |
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B R Flight | £ |
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Brought forward at 1 July 2016 | 186,137 |
Introduced | - |
Repayments | (8,116 | ) |
Carried forward at 30 June 2017 | 178,021 |
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A Cox | £ |
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Brought forward at 1 July 2016 | 81,190 |
Introduced | - |
Repayments | (8,116 | ) |
Carried forward at 30 June 2017 | 73,074 |
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R Jones | £ |
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Brought forward at 1 July 2016 | 19,735 |
Introduced | - |
Repayments | (1,600 | ) |
Carried forward at 30 June 2017 | 18,135 |
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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. |
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9. | RELATED PARTY DISCLOSURES |
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B R Flight and K Andersson are also directors of The Olive Shed Limited. During the year under review this |
company invoiced The Olive Shed Limited £6,986 (2016 - £3,203) for goods on an arms length basis. At the |
year end, the company was owed £1,603 from The Olive Shed Limited (2016 - £473). |
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At the year end The Olive Shed Limited was owed £4,549 (2016 - £4,549) by The Real Olive Company Limited. |
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During the year R Jones, another director of this company, has invoiced the company for consultancy services |
totalling £5,865 (2016 - £14,410). |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors. |