Olive Consultancy Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 05535245

OLIVE CONSULTANCY LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

31 January 2015

OLIVE CONSULTANCY LIMITED

ABBREVIATED BALANCE SHEET

31 January 2015

	2015	2014
Note	£	£	£
FIXED ASSETS	2
Tangible assets		-	1,323
		----	------
		-	1,323
		----	------

CURRENT ASSETS

Stocks	-		13,993
Debtors	7,458		44,526
Cash at bank and in hand	7,614		18,176
	--------		--------
	15,072		76,695
CREDITORS: Amounts falling due within one year	( 4,365)		( 38,296)
	--------		--------
NET CURRENT ASSETS		10,707	38,399
		--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES		10,707	39,722
		--------	--------

CAPITAL AND RESERVES

Called up equity share capital	4		63	63
Share premium account		153	153
Profit and loss account		10,491	39,506
		--------	--------
SHAREHOLDERS' FUNDS		10,707	39,722
		--------	--------

For the year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 27 October 2015 .

Mr C Burt

Director

Company Registration Number: 05535245

OLIVE CONSULTANCY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 JANUARY 2015

1. ACCOUNTING POLICIES

Basis of accounting

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

Turnover

The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% Straight Line

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Going concern

Under the terms of an agreement effective 1 April 2014, the Company agreed to transfer its business to Green Energy Partners (Holdings) Limited. The Directors have reviewed the valuation of all remaining assets and liabilities of the Company at 31 January 2015 and have satisfied themselves that the assets and liabilities of the Company will be realised at the values recorded in the Balance Sheet. Accordingly, no adjustments are necessary to the values recorded on a Going Concern basis.

Furthermore, the Directors have satisfied themselves that the Company will have sufficient cash reserves to enable the Company to be struck off or undergo a solvent liquidation once all assets and liabilities have been satisfied.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 February 2014	14,358
Disposals	(14,358)
	--------
At 31 January 2015	–
	--------

DEPRECIATION

At 1 February 2014	13,035
Charge for year	137
On disposals	(13,172)
	--------
At 31 January 2015	–
	--------

NET BOOK VALUE

At 31 January 2015	–
	----

At 31 January 2014	1,323
	------

3. RELATED PARTY TRANSACTIONS

At 31 January 2015 the director, Mr C Burt, owed the company £4,749 (2014 - the company owed Mr C Burt £19,175). The loans to and from Mr C Burt were undated, unsecured and interest free. Subsequent to the year end the amount owed to the company by Mr C Burt was repaid. During the year £18,000 was paid to Mrs I Burt in respect of consultancy services.

4. SHARE CAPITAL

Allotted, called up and fully paid:

2015	2014
No	£	No	£
Ordinary shares of £ 0.10 each	600	60	600	60
Ordinary Class B shares of £ 0.10 each	25	3	25	3
	----	----	----	----
	625	63	625	63
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