Company registration number 13656418 (England and Wales)
ORION INTERNATIONAL CONSULTING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
ORION INTERNATIONAL CONSULTING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ORION INTERNATIONAL CONSULTING LTD
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
967
1,687
Current assets
Debtors
5
5,749
6,067
Cash at bank and in hand
4,778
29,183
10,527
35,250
Creditors: amounts falling due within one year
6
(10,336)
(11,349)
Net current assets
191
23,901
Net assets
1,158
25,588
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
1,157
25,587
Total equity
1,158
25,588
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 16 April 2024
Miss K D Stiff
Director
Company registration number 13656418 (England and Wales)
ORION INTERNATIONAL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
Orion International Consulting Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Victoria House, 178-180 Fleet Road, Fleet, GU51 4DA.
1.1
Reporting period
The company accounts have been prepared from the incorporation of the company on 1 October 2021 to 31 October 2022.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.3
Turnover
Turnover relates to sale of services provided and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised in line with the performance of these services.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
3 Year Straight Line
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.7
Taxation
The tax expense represents the tax currently payable.
ORION INTERNATIONAL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
4
Tangible fixed assets
Computers
£
Cost
At 1 November 2022 and 31 October 2023
2,161
Depreciation and impairment
At 1 November 2022
474
Depreciation charged in the year
720
At 31 October 2023
1,194
Carrying amount
At 31 October 2023
967
At 31 October 2022
1,687
ORION INTERNATIONAL CONSULTING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,622
Other debtors
5,749
445
5,749
6,067
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,003
Corporation tax
6,843
9,329
Other creditors
1,490
2,020
10,336
11,349