2021-04-012022-03-312022-03-31false08442568ORBIT METRO 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ORBIT METRO LIMITED

Registered Number
08442568
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

ORBIT METRO LIMITED
Company Information
for the year from 1 April 2021 to 31 March 2022

Directors

Mr E P Atkinson
Mr M J Lucas

Registered Address

83 Blackfriars Road
London
SE1 8HA

Registered Number

08442568 (England and Wales)
ORBIT METRO LIMITED
Statement of Financial Position
31 March 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets52,4324,864
Tangible assets713,0145,817
15,44610,681
Current assets
Stocks117,65790,010
Debtors10392,377345,566
Cash at bank and on hand62,07611
572,110435,587
Creditors amounts falling due within one year11(368,963)(404,404)
Net current assets (liabilities)203,14731,183
Total assets less current liabilities218,59341,864
Creditors amounts falling due after one year12(54,448)(37,604)
Net assets164,1454,260
Capital and reserves
Called up share capital100100
Profit and loss account164,0454,160
Shareholders' funds164,1454,260
The financial statements were approved and authorised for issue by the Board of Directors on 14 September 2022, and are signed on its behalf by:
Mr E P Atkinson
Director
Registered Company No. 08442568
ORBIT METRO LIMITED
Notes to the Financial Statements
for the year ended 31 March 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings5
Office Equipment4
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangibles are measured at cost less any accumulated amortisation or impairment losses.
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20222021
Average number of employees during the year1820
5.Intangible assets

Total

£
Cost or valuation
At 01 April 2124,322
At 31 March 2224,322
Amortisation and impairment
At 01 April 2119,457
Charge for year2,433
At 31 March 2221,890
Net book value
At 31 March 222,432
At 31 March 214,864
6.Useful life of intangible asset
Goodwill arising from the acquisition of the business back in 2013 and is being amortised over its estimated useful economic life of 10 years.
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 2116,666
Additions12,026
At 31 March 2228,692
Depreciation and impairment
At 01 April 2110,849
Charge for year4,829
At 31 March 2215,678
Net book value
At 31 March 2213,014
At 31 March 215,817
8.Description of nature of transactions and balances with related parties
Included in other creditors are the following balances owed to P Atkinson £15,855 (2021 - £48,781) and M Lucas £54 (2021 - £37) who are both the shareholders and directors of this company.
9.Dividends proposed and payable

2022

2021

££
Dividends Paid177,000212,600
Total177,000212,600
10.Debtors

2022

2021

££
Trade debtors / trade receivables337,325307,514
Other debtors15,02315,023
Prepayments and accrued income40,02923,029
Total392,377345,566
11.Creditors within one year

2022

2021

££
Trade creditors / trade payables110,93822,655
Taxation and social security188,804224,910
Other creditors69,221156,839
Total368,963404,404
12.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts54,44837,604
Total54,44837,604