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Registration number: 11009613

Orca Real Estate Limited

Unaudited Financial Statements

for the Year Ended 31 October 2022

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Orca Real Estate Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Orca Real Estate Limited

Company Information

Director

T Castro

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Orca Real Estate Limited

Statement of Financial Position as at 31 October 2022

Note

2022
£

2021
£

Current assets

 

Debtors

4

30,936

39,066

Cash at bank and in hand

 

1,003

269,527

 

31,939

308,593

Creditors: Amounts falling due within one year

5

(66,887)

(342,384)

Total assets less current liabilities

 

(34,948)

(33,791)

Creditors: Amounts falling due after more than one year

5

(39,288)

(35,833)

Net liabilities

 

(74,236)

(69,624)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(74,238)

(69,626)

Shareholders' deficit

 

(74,236)

(69,624)

For the financial year ending 31 October 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 15 November 2023
 

.........................................

T Castro

Director

Company registration number: 11009613

 

Orca Real Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022

1

General information

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

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the buying and selling of real estate.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

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.

Going concern

The company made a loss for the year and had net liabilities at 31 October 2022 amounting to £74,236.

At this date an amount of £46,998 was due to the parent undertaking who has confirmed that they intend to continue to support the company and do not intend to call for repayment until such time as the company has sufficient working capital.

On the basis of the above, and having made enquiries the director has a reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the 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.

 

Orca Real Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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.

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 income statement 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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2021 - 0).

4

Debtors

2022
£

2021
£

Trade debtors

240

-

Other debtors

30,696

39,066

30,936

39,066

 

Orca Real Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2022

5

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Bank loans

5,964

10,000

Trade creditors

1,000

1,000

Amounts owed to group undertakings

46,998

46,998

Taxation and social security

409

45,000

Other creditors

12,516

239,386

66,887

342,384

Creditors: amounts falling due after more than one year

2022
£

2021
£

Bank loans

39,288

35,833

2022
£

2021
£

Due after more than five years

Bank loans repayable by instalments

14,831

20,572

-

6

Related party transactions

In accordance with FRS 102 paragraph 1AC.35 exemption has been taken from disclosing transactions or amounts falling due between wholly owned group undertakings.