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REGISTERED NUMBER: 10973188 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ORBITACX LIMITED

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORBITACX LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: C Hatfield
M Hatfield





REGISTERED OFFICE: Forest Lodge
Upper Icknield Way
Halton
Aylesbury
Buckinghamshire
HP22 5NJ





REGISTERED NUMBER: 10973188 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,346 703
2,346 703

CURRENT ASSETS
Debtors 6 81,339 198,552
Cash at bank 44,145 42,918
125,484 241,470
CREDITORS
Amounts falling due within one year 7 78,628 174,667
NET CURRENT ASSETS 46,856 66,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,202

67,506

CREDITORS
Amounts falling due after more than one
year

8

(48,750

)

(67,500

)

PROVISIONS FOR LIABILITIES (446 ) -
NET ASSETS 6 6

CAPITAL AND RESERVES
Called up share capital 6 6
SHAREHOLDERS' FUNDS 6 6

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

BALANCE SHEET - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2023 and were signed on its behalf by:





M Hatfield - Director


ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

Orbitacx 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 2017, is being amortised evenly over its estimated useful life of five 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 - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 14,000
AMORTISATION
At 1 June 2022
and 31 May 2023 14,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 4,225
Additions 2,901
At 31 May 2023 7,126
DEPRECIATION
At 1 June 2022 3,522
Charge for year 1,258
At 31 May 2023 4,780
NET BOOK VALUE
At 31 May 2023 2,346
At 31 May 2022 703

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 33,344 144,294
Other debtors 47,995 54,258
81,339 198,552

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,750 18,750
Trade creditors 1,731 20,513
Taxation and social security 24,119 42,258
Other creditors 34,028 93,146
78,628 174,667

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,750 37,500
Other creditors 30,000 30,000
48,750 67,500

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
M Hatfield
Balance outstanding at start of year 54,253 65,492
Amounts advanced 48,302 56,010
Amounts repaid (54,565 ) (67,249 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,990 54,253

The loan has been subsequently repaid.

ORBITACX LIMITED (REGISTERED NUMBER: 10973188)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


10. RELATED PARTY DISCLOSURES

During the year Orbita Consultancy Limited, a company of which Mr C Hatfield is a director and shareholder, traded as follows with OrbitCX Limited:
2023 2022
£    £   
Services provided by Orbita Consultancy Limited 27,254 16,667

Balance owing to Orbita Consultancy Limited 1,260 nil



At 31 May 2023 other creditors include loans made to the company by its directors as follows:

- C Hatfield £4,695 (2022 £29,586)

The loans are interest free with no fixed date for repayment.

Other creditors includes loans made to Orbita Consultancy Limited of £10,184 (2022 £10,314). Mr C Hatfield is also a director and shareholder in Orbita Consultancy Limited.

11. ULTIMATE CONTROLLING PARTY

The controlling party is the directors, C Hatfield and M Hatfield.