ORANGE PHARMA LIMITED
REGISTERED NUMBER: 05542879
BALANCE SHEET
AS AT 31 MARCH 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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ORANGE PHARMA LIMITED
REGISTERED NUMBER: 05542879
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
For the year ended 31 March 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2024.
The notes on pages 3 to 4 form part of these financial statements.
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ORANGE PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Orange Pharma Limited is a private company, limited by shares, domiciled in England and Wales, registration number 05542879. The registered office is Ambe House, Commerce Way, Edenbridge, kent, TN8 6ED. The company has not traded during the year.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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ORANGE PHARMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
The controlling party is C Patel, by virtue of his majority shareholding.
On 29 June 2009 the company established an Enterprise Management Investment Scheme (EMI). Under the EMI the Board of Directors can grant options over shares in the company for commercial reasons in order to recruit or retain employees.
Options are granted with a fixed exercise price equal to the market price of the shares under option at the date of grant. The contracted life of an option is 10 years. Options granted become exercisable based on established criteria. Vesting of an option is subject to conditions with exercises allowed for up to 40 days after termination of employment. Exercise can also immediately occur in the event of redundancy, death, permanent incapacity, normal retirement, takeover, liquidation or flotation of the company.
The options expire if they remain unexercised after a period of ten years from the date they were granted, after the first anniversary of the death of the option holder, immediately following the option holder ceasing to be an eligible employee or after the option holder being adjudicated bankrupt. All options granted relate to Ordinary shares of £1 each.
The number of shares outstanding as at the year end was 600 (2021: 600).
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