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REGISTERED NUMBER: 06576425 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

ORBITAL INDUSTRIES LIMITED

ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORBITAL INDUSTRIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: P McCool
S McCool
K Dudziak





SECRETARY:





REGISTERED OFFICE: Electric House
Ninian Way
Wilnecote
Tamworth
Staffordshire
B77 5DE





REGISTERED NUMBER: 06576425 (England and Wales)






ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 218,667 200,100

CURRENT ASSETS
Stocks 656,883 1,027,485
Debtors 5 1,364,393 1,117,881
Cash at bank and in hand 117,901 278,354
2,139,177 2,423,720
CREDITORS
Amounts falling due within one year 6 989,964 1,138,439
NET CURRENT ASSETS 1,149,213 1,285,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,367,880

1,485,381

CREDITORS
Amounts falling due after more than one
year

7

(184,349

)

(195,774

)

PROVISIONS FOR LIABILITIES (8,730 ) (10,653 )
NET ASSETS 1,174,801 1,278,954

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,174,799 1,278,952
SHAREHOLDERS' FUNDS 1,174,801 1,278,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

BALANCE SHEET - continued
30 APRIL 2023


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 5 October 2023 and were signed on its behalf by:





S McCool - Director


ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Orbital Industries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 165,327 20,132 7,470
Additions - 379 1,902
At 30 April 2023 165,327 20,511 9,372
DEPRECIATION
At 1 May 2022 32,676 12,012 2,619
Charge for year 16,533 2,126 1,690
At 30 April 2023 49,209 14,138 4,309
NET BOOK VALUE
At 30 April 2023 116,118 6,373 5,063
At 30 April 2022 132,651 8,120 4,851

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 61,905 11,611 266,445
Additions 47,110 3,926 53,317
At 30 April 2023 109,015 15,537 319,762
DEPRECIATION
At 1 May 2022 9,047 9,991 66,345
Charge for year 12,068 2,333 34,750
At 30 April 2023 21,115 12,324 101,095
NET BOOK VALUE
At 30 April 2023 87,900 3,213 218,667
At 30 April 2022 52,858 1,620 200,100

ORBITAL INDUSTRIES LIMITED (REGISTERED NUMBER: 06576425)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,079,891 889,572
Amounts owed by group undertakings 254,738 207,893
Other debtors 29,764 20,416
1,364,393 1,117,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,000 40,216
Hire purchase contracts (see note 8) 14,492 8,675
Trade creditors 571,467 656,173
Amounts owed to group undertakings 2,969 2,666
Taxation and social security 291,049 359,155
Other creditors 69,987 71,554
989,964 1,138,439

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 113,383 153,333
Hire purchase contracts (see note 8) 70,966 42,441
184,349 195,774

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 14,492 8,675
Between one and five years 70,966 42,441
85,458 51,116

Non-cancellable operating leases
2023 2022
£    £   
Within one year 15,757 19,808
Between one and five years 9,287 25,044
25,044 44,852