Oliver Sweeney Holdings Ltd

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 06452150

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	7		1,500,000		1,500,000
Tangible Assets	8		3,570		7,701

			1,503,570		1,507,701
CURRENT ASSETS
Debtors	9	1,265		18,691
Cash at bank and in hand		25,204		697

		26,469		19,388
Creditors: Amounts Falling Due Within One Year	10	(69,498 )		(55,592 )

NET CURRENT ASSETS (LIABILITIES)			(43,029 )		(36,204 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,460,541		1,471,497

Creditors: Amounts Falling Due After More Than One Year	11		(407,641 )		(550,034 )

NET ASSETS			1,052,900		921,463

CAPITAL AND RESERVES
Called up share capital	12		54		54
Profit and loss account			1,052,846		921,409

SHAREHOLDERS' FUNDS			1,052,900		921,463

Page 1

Balance Sheet (continued)

As at 31 May 2017

For the year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account

On behalf of the board

Mr Oliver Sweeney

20 October 2017

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 June 2015	54	768,951	769,005
Profit for the year and total comprehensive income	-	152,458	152,458

As at 31 May 2016 and 1 June 2016	54	921,409	921,463


Profit for the year and total comprehensive income	-	131,437	131,437

As at 31 May 2017	54	1,052,846	1,052,900

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible fixed assets and amortisation - Intellectual Property

Intellectual property is capitalised as an asset on the balance sheet with no amortisation.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Computer Equipment	33.33% straight line

1.5. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

4. Average number of employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	4	4

	4	4

7. Intangible Assets

	Intellectual Property
	£
Cost
As at 1 June 2016	1,500,000

As at 31 May 2017	1,500,000

Net Book Value
As at 31 May 2017	1,500,000

As at 1 June 2016	1,500,000

Page 4

Oliver Sweeney Holdings Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

8. Tangible Assets


	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 June 2016	2,386	12,985	15,371
Disposals	-	(337 )	(337 )

As at 31 May 2017	2,386	12,648	15,034

Depreciation
As at 1 June 2016	1,411	6,259	7,670
Provided during the period	244	3,802	4,046
Disposals	-	(252 )	(252 )

As at 31 May 2017	1,655	9,809	11,464

Net Book Value
As at 31 May 2017	731	2,839	3,570

As at 1 June 2016	975	6,726	7,701

9. Debtors

	2017	2016
	£	£
Due within one year
Prepayments and accrued income	1,265	1,691
Other debtors	-	17,000

	1,265	18,691

10. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	14,464	-
Corporation tax	34,311	38,671
Other taxes and social security	416	545
VAT	16,500	9,235
Other creditors	2,272	5,606
Accruals and deferred income	1,535	1,535

	69,498	55,592

11. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Directors loan account	407,641	550,034

Page 5

Oliver Sweeney Holdings Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

12. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	54	54	54

13. General Information

Oliver Sweeney Holdings Ltd Registered number 06452150 is a limited by shares company incorporated in England & Wales. The Registered Office is 34/36 Fore Street, Bovey Tracey, Devon, TQ13 9AE.