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Registration number: 13735541

ORB Electrical Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2022

 

ORB Electrical Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

ORB Electrical Solutions Ltd

Company Information

Director

Mr OR Bancroft

Registered office

15 Ffordd Ty Unnos
Cardiff
CF14 4NJ

Accountants

DRP + Co Accountants Limited
1st Floor 6 St Johns Court
Upper Fforest Way
Swansea
C & C of Swansea
SA6 8QQ

 

ORB Electrical Solutions Ltd

(Registration number: 13735541)
Balance Sheet as at 30 November 2022

Note

2022
£

Fixed assets

 

Tangible assets

4

10,800

Current assets

 

Cash at bank and in hand

 

10,916

Creditors: Amounts falling due within one year

5

(19,089)

Net current liabilities

 

(8,173)

Net assets

 

2,627

Capital and reserves

 

Called up share capital

6

1

Retained earnings

2,626

Shareholders' funds

 

2,627

For the financial year ending 30 November 2022 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 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 28 September 2023
 

.........................................
Mr OR Bancroft
Director

 

ORB Electrical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
15 Ffordd Ty Unnos
Cardiff
CF14 4NJ
Wales

These financial statements were authorised for issue by the director on 28 September 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 financial statements have been prepared on a going concern basis.

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.

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:

 

ORB Electrical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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.

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.

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 1.

 

ORB Electrical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

13,500

13,500

At 30 November 2022

13,500

13,500

Depreciation

Charge for the year

2,700

2,700

At 30 November 2022

2,700

2,700

Carrying amount

At 30 November 2022

10,800

10,800

5

Creditors

Creditors: amounts falling due within one year

2022
£

Due within one year

Accruals and deferred income

1,020

Other creditors

18,069

19,089

6

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary A Shares of £1 each

1

1

     

7

Dividends

   

2022

   

£

Interim dividend of £2,000.00 per ordinary share

 

2,000

     
 

ORB Electrical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

8

Related party transactions

 

ORB Electrical Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Director's remuneration

The director's remuneration for the year was as follows:

2022
£

Remuneration

12,570