REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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OLIVELLE & ASSOCIATES LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 September 2020 |
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for |
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OLIVELLE & ASSOCIATES LIMITED |
OLIVELLE & ASSOCIATES LIMITED (REGISTERED NUMBER: 06047030) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 5 |
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OLIVELLE & ASSOCIATES LIMITED |
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Company Information |
for the Year Ended 30 September 2020 |
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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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The Innovation Centre |
Treliske |
Truro |
Cornwall |
TR1 3FF |
OLIVELLE & ASSOCIATES LIMITED (REGISTERED NUMBER: 06047030) |
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Abridged Balance Sheet |
30 September 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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OLIVELLE & ASSOCIATES LIMITED (REGISTERED NUMBER: 06047030) |
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Abridged Balance Sheet - continued |
30 September 2020 |
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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. |
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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 and authorised for issue on
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OLIVELLE & ASSOCIATES LIMITED (REGISTERED NUMBER: 06047030) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
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1. | STATUTORY INFORMATION |
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Olivelle & Associates Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the total invoice value, excluding value added tax, of fee income received during the period. |
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Tangible fixed assets |
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Plant and machinery | - |
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Government grants |
Government grants are recognised either based on the performance model or the accrual model, with the policy choice being decided on a class-by-class basis. |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
OLIVELLE & ASSOCIATES LIMITED (REGISTERED NUMBER: 06047030) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 October 2019 |
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Additions |
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At 30 September 2020 |
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DEPRECIATION |
At 1 October 2019 |
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Charge for year |
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At 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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5. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2020 | 2019 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 3,467 | - |
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6. | GOVERNMENT GRANTS |
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During the year the company was in receipt of Government Grants available as a result of the COVID-19 pandemic. The company received the Bounce Back Loan Scheme Grant of £260.There are not deemed to be any unfulfilled conditions in relation to these Grants and as such the total amounts received have been recorded as income within the accounts. |
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7. | GOING CONCERN |
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Although there was a temporary suspension of trade during the accounting period due to the COVID-19 pandemic, trade resumed and management have determined there are no material uncertainties in relation to going concern. As such, these accounts have been prepared on a going concern basis. |