Registered number
08682558
ORIS 62 LIMITED
Filleted Accounts
30 September 2022
ORIS 62 LIMITED
Registered number: 08682558
Balance Sheet
as at 30 September 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 22,518 22,789
Current assets
Stocks 24,206 21,956
Debtors 4 - 9,778
Cash at bank and in hand 36,373 31,178
60,579 62,912
Creditors: amounts falling due within one year 5 (40,120) (42,781)
Net current assets 20,459 20,131
Total assets less current liabilities 42,977 42,920
Creditors: amounts falling due after more than one year 6 (23,467) (29,867)
Net assets 19,510 13,053
Capital and reserves
Called up share capital 1 1
Profit and loss account 19,509 13,052
Shareholders' funds 19,510 13,053
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Orhan Isbuga
Director
Approved by the board on 21 October 2022
ORIS 62 LIMITED
Notes to the Accounts
for the year ended 30 September 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2021 9,346 38,630 47,976
Additions - 5,973 5,973
At 30 September 2022 9,346 44,603 53,949
Depreciation
At 1 October 2021 1,655 23,532 25,187
Charge for the year 1,538 4,706 6,244
At 30 September 2022 3,193 28,238 31,431
Net book value
At 30 September 2022 6,153 16,365 22,518
At 30 September 2021 7,691 15,098 22,789
4 Debtors 2022 2021
£ £
Other debtors - 9,778
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 9,727 7,460
Taxation and social security costs 4,836 5,286
Other creditors 25,557 30,035
40,120 42,781
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 23,467 29,867
7 Controlling party
Mr Orhan Isbuga
8 Other information
ORIS 62 LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2 Clayton Parade
Turners Hill
Cheshunt
Herts
EN8 8NQ
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