COMPANY REGISTRATION NUMBER:
12460464
Filleted Unaudited Financial Statements
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Period from 13 February 2020 to 31 May 2021
Report to the board of directors on the preparation of the unaudited statutory financial statements
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1
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Statement of financial position
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2
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Notes to the financial statements
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3
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Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Olera Vita Limited
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Period from 13 February 2020 to 31 May 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Olera Vita Limited for the period ended 31 May 2021, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED
Chartered Certified Accountants
2 Chesterfield Buildings
Westbourne Place
Clifton
Bristol
BS8 1RU
18 October 2021
Statement of Financial Position
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31 May 2021
Fixed assets
Creditors: amounts falling due within one year
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6
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1,074
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-------
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Net current liabilities
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1,074
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------------
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Total assets less current liabilities
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998,926
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Creditors: amounts falling due after more than one year
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7
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1,043,096
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Net liabilities
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(
44,170)
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Capital and reserves
Called up share capital
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20,000
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Profit and loss account
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(
64,170)
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--------
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Shareholders deficit
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(
44,170)
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--------
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
6 October 2021
, and are signed on behalf of the board by:
Company registration number:
12460464
Notes to the Financial Statements
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Period from 13 February 2020 to 31 May 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is YVHQ, Rhodyate, Blagdon, Somerset, BS40 7YE.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is reliant on the continued support of its directors and shareholders. The directors have a reasonable expectation that with the support of its shareholders the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employees
The average number of employees, including directors, during the period was 2.
5.
Investments
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Other investments other than loans
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£
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Cost
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At 13 February 2020
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–
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Additions
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1,000,000
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At 31 May 2021
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1,000,000
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Impairment
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At 13 February 2020 and 31 May 2021
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–
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Carrying amount
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At 31 May 2021
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1,000,000
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6.
Creditors:
amounts falling due within one year
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31 May 21
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£
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Other creditors
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1,074
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-------
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7.
Creditors:
amounts falling due after more than one year
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31 May 21
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£
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Amounts owed to related party
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1,043,096
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