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Registered Number: 09432626
England and Wales

 

 

 

ORION METAL TRADE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 25 February 2023
Director Mr D Revenko
Registered Number 09432626
Registered Office 5 Barn Path, Finchwood Park,
Wokingham,
England,
RG40 4AN
Accountants Blue Peak Consulting Limited
Wyvols Court
Basingstoke Road
Reading
RG7 1WY
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 25 February 2023
Principal activities
Principal activity of the company during the financial year was wholesale of metals and metal ores.
Directors
The directors who served the company throughout the period were as follows:
Mr S Revenko (from 29/10/2018 to 03/07/2023)
Mr D Revenko (from 17/04/2015)
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Companies Exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr D Revenko
Director

Date approved: 20 February 2024
2
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Orion Metal Trade Ltd for the year ended 25 February 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.


This report is made solely to the Board of Directors of Orion Metal Trade Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Orion Metal Trade Ltd and state those matters that we have agreed to state to the Board of Directors of Orion Metal Trade Ltd as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.


It is your duty to ensure that Orion Metal Trade Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Orion Metal Trade Ltd. You consider the Orion Metal Trade Ltd is exempt from the statutory audit requirement for the year.


We have not been instructed to carry out an audit or a review of the financial statements of Orion Metal Trade Ltd For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................
Blue Peak Consulting Limited
Wyvols Court
Basingstoke Road
Reading
RG7 1WY
20 February 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,355    519 
1,355    519 
Current assets      
Debtors 4 950,312    937,284 
Cash at bank and in hand 36    826 
950,348    938,110 
Creditors: amount falling due within one year 5 (1,188,347)   (1,173,647)
Net current liabilities (237,999)   (235,537)
 
Total assets less current liabilities (236,644)   (235,018)
Provisions for liabilities 6 (258)   (99)
Net liabilities (236,902)   (235,117)
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account (236,904)   (235,119)
Shareholder's funds (236,902)   (235,117)
 


For the year ended 25 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 February 2024 and were signed on its behalf by:


-------------------------------
Mr D Revenko
Director
4
Company Information
Orion Metal Trade Ltd is a private company, limited by shares, registered in England and Wales. The registered office is 5 Barn Path, Finchwood Park, Wokingham, England, RG40 4AN.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33% Straight Line
Fixtures and Fittings 33.33% Straight Line
Plant and Machinery 20% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 1 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 March 2022 603      9,760    10,363 
Additions   296    1,165    1,461 
Disposals      
At 25 February 2023 603    296    10,925    11,824 
Depreciation
At 01 March 2022 415      9,429    9,844 
Charge for period 38    16    571    625 
On disposals      
At 25 February 2023 453    16    10,000    10,469 
Net book values
Closing balance as at 25 February 2023 150    280    925    1,355 
Opening balance as at 01 March 2022 188      331    519 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 881,653    881,653 
Amount Owed by Group Undertakings 47,512   
Other Debtors   40,347 
VAT 13,784    15,284 
Director's Current Account 7,363   
950,312    937,284 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,007,392    1,001,377 
Amounts Owed to Group Undertakings 6,430   
Corporation Tax 472    472 
PAYE & Social Security 14,112    13,325 
Wages control 5,186    1,289 
Accrued Expenses   2,429 
Other Creditors 569    569 
Directors' Current Accounts 154,186    154,186 
1,188,347    1,173,647 

6.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 258    99 
258    99 

5