Registered number
10679284
ORCHID HOUSE EMPORIUM LTD
Filleted Accounts
for the year ended
30 June 2023
ORCHID HOUSE EMPORIUM LTD
Registered number: 10679284
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 14,916 18,645
Tangible assets 4 6,225 6,215
21,141 24,860
Current assets
Debtors 5 - 287
Cash at bank and in hand 17,379 -
17,379 287
Creditors: amounts falling due within one year 6 (14,151) (7,376)
Net current assets/(liabilities) 3,228 (7,089)
Total assets less current liabilities 24,369 17,771
Creditors: amounts falling due after more than one year 7 (32,162) -
Net (liabilities)/assets (7,793) 17,771
Capital and reserves
Called up share capital 100 100
Profit and loss account (7,846) 17,671
Shareholders' funds (7,793) 17,771
The directors are 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 directors acknowledge their 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.
M Taylor
Director
Approved by the board on 12 March 2024
ORCHID HOUSE EMPORIUM LTD
Notes to the Accounts
for the year ended 30 June 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2022 37,290
At 30 June 2023 37,290
Amortisation
At 1 July 2022 18,645
Provided during the year 3,729
At 30 June 2023 22,374
Net book value
At 30 June 2023 14,916
At 30 June 2022 18,645
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 23,248
Additions 2,090
At 30 June 2023 25,338
Depreciation
At 1 July 2022 17,033
Charge for the year 2,080
At 30 June 2023 19,113
Net book value
At 30 June 2023 6,225
At 30 June 2022 6,215
5 Debtors 2023 2022
£ £
Other debtors - 287
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,389 -
Taxation and social security costs 4,627 6,776
Other creditors 7,135 600
14,151 7,376
7 Creditors: amounts falling due after one year 2023 2022
£ £
Loan from Fir Tree Fishery CIC 32,162 -
8 Other information
ORCHID HOUSE EMPORIUM LTD is a private company limited by shares and incorporated in England. Its registered office is:
Fir Tree Farm
The Nook
Wigan
WN6 pJB
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