Registered number
12923020
Orb Property Ltd
Filleted Accounts
31 October 2023
Orb Property Ltd
Registered number: 12923020
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 375,192 375,442
Current assets
Cash at bank and in hand 14,248 10,750
Creditors: amounts falling due within one year 4 (120,177) (122,954)
Net current liabilities (105,929) (112,204)
Total assets less current liabilities 269,263 263,238
Creditors: amounts falling due after more than one year 5 (257,210) (257,210)
Net assets 12,053 6,028
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,052 6,027
Shareholders' funds 12,053 6,028
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Raven Bewsy
Director
Approved by the board on 1 March 2024
Orb Property Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable from the rental of freehold property.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Office equipment over 3 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Office equipment Total
£ £ £
Cost
At 1 November 2022 375,190 754 375,944
At 31 October 2023 375,190 754 375,944
Depreciation
At 1 November 2022 - 502 502
Charge for the year - 250 250
At 31 October 2023 - 752 752
Net book value
At 31 October 2023 375,190 2 375,192
At 31 October 2022 375,190 252 375,442
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,472 1,301
Other creditors 118,705 121,653
120,177 122,954
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 257,210 257,210
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 257,210 257,210
A charge is held by The Mortgage Works dated 24 February 2021 over one freehold property at 21 Milton Street, Ilkeston, DE7 8NX. A charge is held by Charter Court Financial Services Limited dated 9 November 2021 over one freehold property at 2 Harvard House, Rivermead, Wilford lane, Nottingham, NG2 7RB. A charge is held by Lendinvest Btl Limited dated 9 November 2021 over one freehold property at 26 Tevery Close, Stapleford, Nottingham, NG9 8DU.
7 Other information
Orb Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
67 Wallis Close
Draycott
Derby
DE72 3QS
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