Fig & Olive Investments Ltd
|
Registered Number
:
09046666
|
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2016
Fig & Olive Investments Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Fig & Olive Investments Ltd
Statement of Financial Position
2015
2016
Property
,
plant and equipment
|
1,011,375
350,000
2
1,011,375
350,000
140,906
Cash and cash equivalents
|
79,299
79,299
140,906
Trade and other payables
:
amounts falling due within one
|
year
|
(37,414)
(29,706)
4
103,492
49,593
Net current assets
Total assets less current liabilities
|
1,060,968
453,492
Trade and other payables
:
amounts falling due after more
|
than one year
|
(263,366)
(784,083)
5
276,885
Net assets
190,126
100
100
276,785
190,026
276,885
190,126
Shareholders' funds
For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
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.
|
Mr Tassawar Hussain Director
|
These financial statements were approved and authorised for issue by the Board on 12 May 2017 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 December 2016
Fig & Olive Investments Ltd
Notes to the Financial Statements
Statutory Information
Fig
&
Olive Investments Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
09046666
.
|
Fileldhurst
13 Liversedge Hall lane
Liversedge
West Yorkshire
WF15 7DD
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
2 of 4
For the year ended 31 December 2016
Fig & Olive Investments Ltd
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
350,000
711,375
(50,000)
1,011,375
1,011,375
350,000
The valuation of properties were made on the 31 Decemeber 2016 by Tassawar Hussain a director of the company, on open market valuation. The historical cost of the properties are £1,011,375, against a carry value of £1,011,375.
|
4
.
Trade and other payables
:
amounts falling due within one year
|
2015
2016
Taxation and social security
|
29,706
36,649
-
765
29,706
37,414
5
.
Trade and other payables
:
amounts falling due after more than one year
|
2015
2016
784,083
263,366
6
.
Related party transactions
|
During the year a loan of £
400
,
000
was received from Hussain Investments Ltd to Fig
&
Olive Investments Ltd
,
a
|
company with common shareholders
.
As at the year end the amount owing to Hussain Investments Ltd was
|
£
400
,
000
.
Interest is charged at a commercial rate on the outstanding amount
,
and there a no fixed repayment
|
terms
.
|
3 of 4
For the year ended 31 December 2016
Fig & Olive Investments Ltd
Notes to the Financial Statements Continued
7
.
Directors advances and guarantees
|
Repaid
Loaned
Mr Tassawar Hussain
Loans from director
381,083
260,366
635,717
515,000
381,083
260,366
635,717
515,000
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