Orchid Investments Limited 11991576 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of property development. Digita Accounts Production Advanced 6.30.9574.0 true 11991576 2022-06-01 2023-05-31 11991576 2023-05-31 11991576 2 2023-05-31 11991576 core:CurrentFinancialInstruments 2023-05-31 11991576 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11991576 core:Non-currentFinancialInstruments 2023-05-31 11991576 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 11991576 core:FurnitureFittingsToolsEquipment 2023-05-31 11991576 bus:SmallEntities 2022-06-01 2023-05-31 11991576 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 11991576 bus:FullAccounts 2022-06-01 2023-05-31 11991576 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 11991576 bus:RegisteredOffice 2022-06-01 2023-05-31 11991576 bus:Director1 2022-06-01 2023-05-31 11991576 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 11991576 core:FurnitureFittings 2022-06-01 2023-05-31 11991576 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 11991576 countries:EnglandWales 2022-06-01 2023-05-31 11991576 2022-05-31 11991576 core:FurnitureFittingsToolsEquipment 2022-05-31 11991576 2021-06-01 2022-05-31 11991576 2022-05-31 11991576 2 2022-05-31 11991576 core:CurrentFinancialInstruments 2022-05-31 11991576 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 11991576 core:Non-currentFinancialInstruments 2022-05-31 11991576 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 11991576 core:FurnitureFittingsToolsEquipment 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 11991576

Orchid Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Orchid Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Orchid Investments Limited

Company Information

Director

Ms P Langley

Registered office

Fawley House
2 Regatta Place Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Orchid Investments Limited

(Registration number: 11991576)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,255

3,533

Current assets

 

Stocks

5

493,990

452,255

Debtors

6

1,760

-

Cash at bank and in hand

 

94,203

368,487

 

589,953

820,742

Creditors: Amounts falling due within one year

7

(426,246)

(640,007)

Net current assets

 

163,707

180,735

Total assets less current liabilities

 

166,962

184,268

Creditors: Amounts falling due after more than one year

7

(22,726)

(32,459)

Net assets

 

144,236

151,809

Capital and reserves

 

Called up share capital

100

100

Retained earnings

144,136

151,709

Shareholders' funds

 

144,236

151,809

For the financial year ending 31 May 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 her 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.

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.

Approved and authorised by the director on 30 January 2024
 

Ms P Langley
Director

 

Orchid Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
Fawley House
2 Regatta Place Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
United Kingdom

These financial statements were authorised for issue by the director on 30 January 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 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 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.

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.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Orchid Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

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

Furniture, fittings and equipment

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

Orchid Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Orchid Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

5,733

5,733

Additions

1,472

1,472

Disposals

(1,997)

(1,997)

At 31 May 2023

5,208

5,208

Depreciation

At 1 June 2022

2,200

2,200

Charge for the year

716

716

Eliminated on disposal

(963)

(963)

At 31 May 2023

1,953

1,953

Carrying amount

At 31 May 2023

3,255

3,255

At 31 May 2022

3,533

3,533

5

Stocks

2023
£

2022
£

Other inventories

493,990

452,255

6

Debtors

Note

2023
£

2022
£

Income tax asset

1,760

-

 

1,760

-

 

Orchid Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

9,945

9,705

Taxation and social security

 

-

35,000

Accruals and deferred income

 

2,400

2,400

Other creditors

 

413,901

592,902

 

426,246

640,007

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

22,726

32,459

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

22,726

32,459

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,945

9,705