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REGISTERED NUMBER: 02901176













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

ORBITGOLD LIMITED

ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ORBITGOLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mr E G Wilcox
Ms J Chandley





SECRETARY: Mr E G Wilcox





REGISTERED OFFICE: Hartfield Place
40 - 44 High Street
Northwood
Middlesex
HA6 1BN





REGISTERED NUMBER: 02901176





ACCOUNTANTS: Robert Clow & Co
Chartered Accountants
Hartfield Place
40 - 44 High Street
Northwood
Middlesex
HA6 1BN

ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 246 328
Investment property 5 924,114 924,114
924,360 924,442

CURRENT ASSETS
Debtors 20,596 5,789
Cash at bank 702,629 673,167
723,225 678,956
CREDITORS
Amounts falling due within one year 49,267 45,349
NET CURRENT ASSETS 673,958 633,607
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,598,318

1,558,049

PROVISIONS FOR LIABILITIES 83,519 63,537
NET ASSETS 1,514,799 1,494,512

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 360,791 380,773
Retained earnings 6 1,153,908 1,113,639
1,514,799 1,494,512

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

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

ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 4 April 2024 and were signed on its behalf by:





Mr E G Wilcox - Director


ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Orbitgold Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022
and 30 September 2023 880
DEPRECIATION
At 1 October 2022 552
Charge for year 82
At 30 September 2023 634
NET BOOK VALUE
At 30 September 2023 246
At 30 September 2022 328

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 924,114
NET BOOK VALUE
At 30 September 2023 924,114
At 30 September 2022 924,114

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2003 148,661
Valuation in 2007 75,000
Valuation in 2009 150,000
Valuation in 2017 71,946
Cost 478,507
924,114

If investment property had not been revalued it would have been included at the following historical cost:

30.9.23 30.9.22
£    £   
Cost 478,507 478,507

Investment property was valued on an open market basis on 30 September 2023 by the directors. .

ORBITGOLD LIMITED (REGISTERED NUMBER: 02901176)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


6. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2022 1,113,639 380,773 1,494,412
Profit for the year 40,269 40,269
Surplus on property valuation - (19,982 ) (19,982 )
At 30 September 2023 1,153,908 360,791 1,514,699