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Registration number: 09763080

Oruz Property Services Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 October 2022 to 31 January 2024

 

Oruz Property Services Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Oruz Property Services Ltd

(Registration number: 09763080)
Balance Sheet as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

7,873

Current assets

 

Stocks

5

-

1,496

Debtors

6

550

9,596

Cash at bank and in hand

 

16,845

67,837

 

17,395

78,929

Creditors: Amounts falling due within one year

7

(7,512)

(27,322)

Net current assets

 

9,883

51,607

Net assets

 

9,883

59,480

Capital and reserves

 

Called up share capital

101

100

Retained earnings

9,782

59,380

Shareholders' funds

 

9,883

59,480

For the financial period ending 31 January 2024 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 period 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 February 2024
 

.........................................
L W L Oruz
Director

 

Oruz Property Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 January 2024

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:
The Old Church School
Butts Hill
Frome
Somerset
BA11 1HR

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Oruz Property Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 January 2024

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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Computers

25% on cost

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Oruz Property Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 January 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 7 (2022 - 11).

4

Tangible assets

Plant and machinery etc
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

12,023

9,083

21,106

Disposals

(12,023)

(9,083)

(21,106)

At 31 January 2024

-

-

-

Depreciation

At 1 October 2022

9,259

3,974

13,233

Eliminated on disposal

(9,259)

(3,974)

(13,233)

At 31 January 2024

-

-

-

Net book value

At 31 January 2024

-

-

-

At 30 September 2022

2,764

5,109

7,873

 

Oruz Property Services Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 January 2024

5

Stocks

2024
£

2022
£

Stock

-

1,496

6

Debtors

2024
£

2022
£

Trade debtors

-

8,115

Other debtors

550

-

Prepayments

-

1,481

550

9,596

7

Creditors

Amounts falling due within one year

2024
£

2022
£

Due within one year

Trade creditors

2,520

488

Taxation and social security

-

10,652

Accruals and deferred income

-

1,524

Other creditors

-

8,017

Corporation tax

4,992

6,641

7,512

27,322