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REGISTERED NUMBER: 08949299 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2023

for

ORLEY KUSTOMS LIMITED

ORLEY KUSTOMS LIMITED (REGISTERED NUMBER: 08949299)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORLEY KUSTOMS LIMITED

Company Information
FOR THE YEAR ENDED 31 March 2023







DIRECTOR: M T Orley





REGISTERED OFFICE: 107 Crews Hole Road
St George
Bristol
BS5 8AY





REGISTERED NUMBER: 08949299 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

ORLEY KUSTOMS LIMITED (REGISTERED NUMBER: 08949299)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,383 47,183
Tangible assets 5 2,133 126
Investments 6 1,000 1,000
46,516 48,309

CURRENT ASSETS
Stocks 13,798 13,000
Debtors 7 2,735 1,937
Prepayments and accrued income - 2,433
Cash at bank 1 15,109
16,534 32,479
CREDITORS
Amounts falling due within one year 8 55,816 58,849
NET CURRENT LIABILITIES (39,282 ) (26,370 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,234

21,939

CREDITORS
Amounts falling due after more than one year 9 28,099 31,677
NET LIABILITIES (20,865 ) (9,738 )

CAPITAL AND RESERVES
Called up share capital 1 100
Retained earnings (20,866 ) (9,838 )
(20,865 ) (9,738 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





M T Orley - Director


ORLEY KUSTOMS LIMITED (REGISTERED NUMBER: 08949299)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 March 2023

1. STATUTORY INFORMATION

Orley Kustoms Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

ORLEY KUSTOMS LIMITED (REGISTERED NUMBER: 08949299)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 76,000
AMORTISATION
At 1 April 2022 28,817
Charge for year 3,800
At 31 March 2023 32,617
NET BOOK VALUE
At 31 March 2023 43,383
At 31 March 2022 47,183

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 11,744
Additions 2,667
At 31 March 2023 14,411
DEPRECIATION
At 1 April 2022 11,618
Charge for year 660
At 31 March 2023 12,278
NET BOOK VALUE
At 31 March 2023 2,133
At 31 March 2022 126

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,735 1,937

ORLEY KUSTOMS LIMITED (REGISTERED NUMBER: 08949299)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,060 4,968
Trade creditors 4,689 5,424
Taxation and social security 3,608 7,625
Other creditors 41,459 40,832
55,816 58,849

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 28,099 31,677

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 32,543 -

National Westminster Bank PLC hold a fixed charge over the leasehold premises.