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REGISTERED NUMBER: 10007586 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 FEBRUARY 2023

FOR

ORCHARD DIGITAL LIMITED

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 27 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORCHARD DIGITAL LIMITED

COMPANY INFORMATION
for the year ended 27 February 2023







DIRECTORS: P J Orchard
M Orchard





REGISTERED OFFICE: Filborough Cottage
Camden Road
Bexley
Kent
DA5 3NP





REGISTERED NUMBER: 10007586 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

BALANCE SHEET
27 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 419,452 549,085
Tangible assets 5 34,488 43,791
453,940 592,876

CURRENT ASSETS
Stocks 6 10,337 17,857
Debtors 7 92,371 94,106
Cash at bank and in hand 69,319 33,047
172,027 145,010
CREDITORS
Amounts falling due within one year 8 (465,327 ) (660,702 )
NET CURRENT LIABILITIES (293,300 ) (515,692 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

160,640

77,184

CREDITORS
Amounts falling due after more than one
year

9

(32,488

)

(54,858

)
NET ASSETS 128,152 22,326

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 128,052 22,226
128,152 22,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

BALANCE SHEET - continued
27 February 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





P J Orchard - Director


ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 27 February 2023


1. STATUTORY INFORMATION

Orchard Digital 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.

The presentation currency of the financial statements is sterling (£) and figures are rounded to the nearest £1.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Website costs are being amortised over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated
impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the
location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings-25% on reducing balance
Computer equipment-33% straight line
Improvements to
Property

-

over 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in profit or loss.

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 27 February 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Research and development expenditure
Research and development expenditure is charged to the profit and loss in the period in which it is incurred.

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 5 (2022 - 5 ) .

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 27 February 2023


4. INTANGIBLE FIXED ASSETS
Website Computer
costs software Totals
£    £    £   
COST
At 28 February 2022 1,283,906 208,250 1,492,156
Additions 1,709 - 1,709
Disposals (3,868 ) - (3,868 )
At 27 February 2023 1,281,747 208,250 1,489,997
AMORTISATION
At 28 February 2022 734,821 208,250 943,071
Amortisation for year 128,153 - 128,153
Eliminated on disposal (679 ) - (679 )
At 27 February 2023 862,295 208,250 1,070,545
NET BOOK VALUE
At 27 February 2023 419,452 - 419,452
At 27 February 2022 549,085 - 549,085

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 28 February 2022 53,598 10,013 16,266 79,877
Additions - 358 1,996 2,354
Disposals - (2,140 ) (10,045 ) (12,185 )
At 27 February 2023 53,598 8,231 8,217 70,046
DEPRECIATION
At 28 February 2022 21,440 3,148 11,498 36,086
Charge for year 5,360 1,502 1,820 8,682
Eliminated on disposal - (1,134 ) (8,076 ) (9,210 )
At 27 February 2023 26,800 3,516 5,242 35,558
NET BOOK VALUE
At 27 February 2023 26,798 4,715 2,975 34,488
At 27 February 2022 32,158 6,865 4,768 43,791

6. STOCKS
2023 2022
£    £   
Stocks 10,337 17,857

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,675 88,782
Other debtors 10,696 5,324
92,371 94,106

ORCHARD DIGITAL LIMITED (REGISTERED NUMBER: 10007586)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 27 February 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,966 20,251
Trade creditors 732 8,024
Taxation and social security 55,489 29,638
Other creditors 387,140 602,789
465,327 660,702

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 32,488 54,858