IRIS Accounts Production v23.3.1.45 09347694 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093476942022-11-30093476942023-11-30093476942022-12-012023-11-30093476942021-11-30093476942021-12-012022-11-30093476942022-11-3009347694ns10:Originalns15:EnglandWales2022-12-012023-11-3009347694ns14:PoundSterlingns10:Original2022-12-012023-11-3009347694ns10:Originalns10:Director12022-12-012023-11-3009347694ns10:Original2022-12-012023-11-3009347694ns10:Original2023-11-3009347694ns10:Originalns10:PrivateLimitedCompanyLtd2022-12-012023-11-3009347694ns10:Originalns10:SmallEntities2022-12-012023-11-3009347694ns10:Originalns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3009347694ns10:SmallCompaniesRegimeForAccountsns10:Original2022-12-012023-11-3009347694ns10:Originalns10:FullAccounts2022-12-012023-11-3009347694ns10:Originalns10:Director22022-12-012023-11-3009347694ns10:Originalns10:RegisteredOffice2022-12-012023-11-3009347694ns10:Original2022-11-3009347694ns10:Originalns5:CurrentFinancialInstruments2023-11-3009347694ns10:Originalns5:CurrentFinancialInstruments2022-11-3009347694ns5:ShareCapitalns10:Original2023-11-3009347694ns5:ShareCapitalns10:Original2022-11-3009347694ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-11-3009347694ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-11-3009347694ns10:Originalns5:ComputerEquipment2022-12-012023-11-3009347694ns10:Original2021-12-012022-11-3009347694ns10:Originalns5:ComputerEquipment2022-11-3009347694ns10:Originalns5:ComputerEquipment2023-11-3009347694ns10:Originalns5:ComputerEquipment2022-11-3009347694ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3009347694ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-30
REGISTERED NUMBER: 09347694 (England and Wales)












Financial Statements for the Year Ended 30 November 2023

for

ORMOND ROTATING EQUIPMENT LTD

ORMOND ROTATING EQUIPMENT LTD (REGISTERED NUMBER: 09347694)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORMOND ROTATING EQUIPMENT LTD

Company Information
for the Year Ended 30 November 2023







DIRECTORS: C A Tacon
K P Tacon





REGISTERED OFFICE: 5 The Ridings
East Horsley
Surrey
KT24 5BN





REGISTERED NUMBER: 09347694 (England and Wales)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

ORMOND ROTATING EQUIPMENT LTD (REGISTERED NUMBER: 09347694)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,432 346

CURRENT ASSETS
Debtors 5 2,875 11,550
Cash at bank 149,359 128,690
152,234 140,240
CREDITORS
Amounts falling due within one year 6 7,457 9,531
NET CURRENT ASSETS 144,777 130,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,209

131,055

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 146,208 131,054
SHAREHOLDERS' FUNDS 146,209 131,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:




K P Tacon - Director


ORMOND ROTATING EQUIPMENT LTD (REGISTERED NUMBER: 09347694)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Ormond Rotating Equipment Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ORMOND ROTATING EQUIPMENT LTD (REGISTERED NUMBER: 09347694)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022 1,669
Additions 1,599
Disposals (1,669 )
At 30 November 2023 1,599
DEPRECIATION
At 1 December 2022 1,323
Charge for year 167
Eliminated on disposal (1,323 )
At 30 November 2023 167
NET BOOK VALUE
At 30 November 2023 1,432
At 30 November 2022 346

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,875 11,550

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 5,176 7,843
Other creditors 2,281 1,688
7,457 9,531

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £8,000 (2022 - £24,000) were paid to the directors .

The company was under the control of C A Tacon and K P Tacon throughout the current and previous year.

During the year the directors further advanced the company net amounts totalling £563. As at 30 November 2023, included within other creditors, is a balance outstanding due to the directors of £1,669 (2022 - £1,106). No interest has been paid on this loan.