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REGISTERED NUMBER: 09579723















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ORION HERITAGE LIMITED

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORION HERITAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: R J T Bourn
Dr R J Smith
Mrs J Bourn





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 09579723





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 14,319 15,824

CURRENT ASSETS
Debtors 4 312,542 518,631
Cash at bank 40,157 35,679
352,699 554,310
CREDITORS
Amounts falling due within one year 5 315,691 536,440
NET CURRENT ASSETS 37,008 17,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,327

33,694

CREDITORS
Amounts falling due after more than one
year

6

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES (3,580 ) (3,007 )
NET ASSETS 27,747 687

CAPITAL AND RESERVES
Called up share capital 111 111
Retained earnings 27,636 576
SHAREHOLDERS' FUNDS 27,747 687

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2023 and were signed on its behalf by:




R J T Bourn - Director


ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022 1,783 37,067 38,850
Additions 1,185 5,637 6,822
At 31 May 2023 2,968 42,704 45,672
DEPRECIATION
At 1 June 2022 1,663 21,363 23,026
Charge for year 370 7,957 8,327
At 31 May 2023 2,033 29,320 31,353
NET BOOK VALUE
At 31 May 2023 935 13,384 14,319
At 31 May 2022 120 15,704 15,824

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 227,961 432,053
Other debtors 8,724 6,840
Directors' loan accounts 594 -
Accrued income 23,183 19,200
Prepayments 52,080 60,538
312,542 518,631

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 103,064 140,810
Trade creditors 30,801 180,765
Tax 87,100 54,479
Social security and other taxes 14,378 14,374
VAT 45,490 62,441
Other creditors 212 -
Directors' loan accounts 818 1,494
Accrued expenses 33,828 82,077
315,691 536,440

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,000 20,000
20,000 30,000

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 22,033 18,240

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Dr R J Smith
Balance outstanding at start of year 8 8
Amounts advanced (603 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (595 ) 8

During the year, R J T Bourn and Mrs J Bourn reduced their joint loan to the company. As at 31 May 2023, the company owed them £818 (2022 £1,485).

These balances represented the maximum amount outstanding during the year and the loans were interest free and repayable on demand.

Finally, during the year the company paid R J T Bourn and Mrs J Bourn rent amounting to £2,156 and Dr R J Smith £2,156 as a result of utilising office space within their homes.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R J T Bourn and J Bourn.

This was by virtue of their 55% holding of the issued share capital.