Company Registration No. 07678302 (England and Wales)
ORBS ENERGY LTD
Unaudited accounts
for the year ended 30 April 2023
ORBS ENERGY LTD
Statement of financial position
as at 30 April 2023
Tangible assets
591,178
596,178
Investments
100,000
75,000
Cash at bank and in hand
126,423
221,212
Creditors: amounts falling due within one year
(169,686)
(129,870)
Net current assets
70,029
108,932
Total assets less current liabilities
761,207
780,110
Creditors: amounts falling due after more than one year
(323,902)
(374,376)
Net assets
437,305
405,734
Called up share capital
2
2
Profit and loss account
437,303
405,732
Shareholders' funds
437,305
405,734
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 August 2023 and were signed on its behalf by
CLIVE PINNICK
Director
Company Registration No. 07678302
ORBS ENERGY LTD
Notes to the Accounts
for the year ended 30 April 2023
ORBS ENERGY LTD is a private company, limited by shares, registered in England and Wales, registration number 07678302. The registered office is SUITE 3 GREVILLE HOUSE, 1697A HIGH STREET KNOWLE, SOLIHULL, WEST MIDLANDS, B93 0LN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Investment properties are stated at Cost and are not depreciated.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line basis
4
Tangible fixed assets
Land & buildings
ORBS ENERGY LTD
Notes to the Accounts
for the year ended 30 April 2023
5
Investments
Other investments
Valuation at 1 May 2022
75,000
Fair value adjustments
25,000
Valuation at 30 April 2023
100,000
Amounts falling due within one year
Trade debtors
14,673
10,305
Other debtors
98,619
7,285
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
24,603
-
Amounts owed to group undertakings and other participating interests
120,599
120,599
Taxes and social security
23,506
7,883
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
323,902
374,376
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).