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Registration number: 12374530

Report of the Director and


Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2023


Orbital Construction Limited

 

Orbital Construction Limited

Contents of the Financial Statements
for the Year Ended 31 July 2023

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Orbital Construction Limited

Company Information
for the Year Ended 31 July 2023

Director:

JJ Greene

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registerd Number:

12374530

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Orbital Construction Limited

(Registration number: 12374530)
Abridged Balance Sheet
as at 31 July 2023

Note

31.07.23
£

31.07.22
£

Fixed assets

 

Tangible assets

4

6,968

3,902

Current assets

 

Stocks

5

27,100

22,350

Debtors

925,062

533,916

Cash at bank and in hand

 

159,005

30,849

 

1,111,167

587,115

Creditors: Amounts falling due within one year

(860,272)

(348,671)

Net current assets

 

250,895

238,444

Net assets

 

257,863

242,346

Capital and reserves

 

Called up share capital

1

1

Retained earning

257,862

242,345

Shareholders' funds

 

257,863

242,346

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Orbital Construction Limited

(Registration number: 12374530)
Abridged Balance Sheet
as at 31 July 2023 (continued)

Approved and authorised by the director on 16 April 2024
 

.........................................
JJ Greene
Director

 

Orbital Construction Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Summary of disclosure exemptions

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Orbital Construction Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Straight line over 3 years

Plant and machinery

Straight line 25%

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Orbital Construction Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2023 (continued)

4

Tangible assets

Tangible
assets
£

Cost or valuation

At 1 August 2022

9,390

Additions

7,850

At 31 July 2023

17,240

Depreciation

At 1 August 2022

5,488

Charge for the year

4,784

At 31 July 2023

10,272

Carrying amount

At 31 July 2023

6,968

At 31 July 2022

3,902

5

Stocks

31.07.23
£

31.07.22
£

Other inventories

27,100

22,350

6

Parent and ultimate parent undertaking

The ultimate parent is Orbital London Limited, incorporated in England and Wales.