Orchid Am Limited 10067023 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Sound recording and music publishing activities. Digita Accounts Production Advanced 6.30.9574.0 true true 10067023 2022-04-01 2023-03-31 10067023 2023-03-31 10067023 bus:OrdinaryShareClass1 2023-03-31 10067023 core:RetainedEarningsAccumulatedLosses 2023-03-31 10067023 core:ShareCapital 2023-03-31 10067023 core:CurrentFinancialInstruments 2023-03-31 10067023 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10067023 core:Non-currentFinancialInstruments 2023-03-31 10067023 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10067023 core:FurnitureFittingsToolsEquipment 2023-03-31 10067023 bus:SmallEntities 2022-04-01 2023-03-31 10067023 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10067023 bus:FullAccounts 2022-04-01 2023-03-31 10067023 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10067023 bus:RegisteredOffice 2022-04-01 2023-03-31 10067023 bus:Director3 2022-04-01 2023-03-31 10067023 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10067023 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10067023 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10067023 core:OfficeEquipment 2022-04-01 2023-03-31 10067023 countries:UnitedKingdom 2022-04-01 2023-03-31 10067023 2022-03-31 10067023 core:FurnitureFittingsToolsEquipment 2022-03-31 10067023 2021-04-01 2022-03-31 10067023 2022-03-31 10067023 bus:OrdinaryShareClass1 2022-03-31 10067023 core:RetainedEarningsAccumulatedLosses 2022-03-31 10067023 core:ShareCapital 2022-03-31 10067023 core:CurrentFinancialInstruments 2022-03-31 10067023 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10067023 core:Non-currentFinancialInstruments 2022-03-31 10067023 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10067023 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10067023

Orchid Am Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Orchid Am Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Orchid Am Limited

Company Information

Director

Mr AM Mombelli

Registered office

116 Georgia Avenue
Manchester
M20 1LX

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
M33 7RR

 

Orchid Am Limited

(Registration number: 10067023)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,178

594

Current assets

 

Debtors

5

65,681

3,538

Cash at bank and in hand

 

107,529

45,814

 

173,210

49,352

Creditors: Amounts falling due within one year

6

(104,069)

(36,516)

Net current assets

 

69,141

12,836

Total assets less current liabilities

 

70,319

13,430

Creditors: Amounts falling due after more than one year

6

(8,667)

(12,667)

Provisions for liabilities

(224)

(113)

Net assets

 

61,428

650

Capital and reserves

 

Called up share capital

7

103

103

Retained earnings

61,325

547

Shareholders' funds

 

61,428

650

For the financial year ending 31 March 2023 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.

 

Orchid Am Limited

(Registration number: 10067023)
Balance Sheet as at 31 March 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 October 2023
 

.........................................
Mr AM Mombelli
Director

   
     
 

Orchid Am Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
116 Georgia Avenue
Manchester
M20 1LX
England

These financial statements were authorised for issue by the director on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

 

Orchid Am Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Orchid Am Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Orchid Am Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,297

2,297

Additions

950

950

At 31 March 2023

3,247

3,247

Depreciation

At 1 April 2022

1,703

1,703

Charge for the year

366

366

At 31 March 2023

2,069

2,069

Carrying amount

At 31 March 2023

1,178

1,178

At 31 March 2022

594

594

5

Debtors

2023
£

2022
£

Trade debtors

65,681

3,538

65,681

3,538

 

Orchid Am Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,000

4,000

Taxation and social security

 

33,236

12,249

Accruals and deferred income

 

1,400

1,602

Other creditors

 

65,433

18,665

 

104,069

36,516

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

8,667

12,667

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

103

103

103

103

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

8,667

12,667

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,000

4,000