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Registered number: 13254495









ORWELL (CHELMSFORD) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
ORWELL (CHELMSFORD) LIMITED
REGISTERED NUMBER: 13254495

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
12,382,693
10,695,922

Debtors: amounts falling due within one year
 4 
48,355
117,516

Cash at bank and in hand
 5 
10,930
9,862

  
12,441,978
10,823,300

Creditors: amounts falling due within one year
 6 
(76,145)
(359,428)

Net current assets
  
 
 
12,365,833
 
 
10,463,872

Total assets less current liabilities
  
12,365,833
10,463,872

Creditors: amounts falling due after more than one year
 7 
(13,660,729)
(10,715,854)

  

Net liabilities
  
(1,294,896)
(251,982)


Capital and reserves
  

Called up share capital 
 8 
100
1

Profit and loss account
  
(1,294,996)
(251,983)

  
(1,294,896)
(251,982)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2024.




Page 1

 
ORWELL (CHELMSFORD) LIMITED
REGISTERED NUMBER: 13254495
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

M C Aldridge
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ORWELL (CHELMSFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

Orwell (Chelmsford) Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 1st Floor, 73-81 Southwark Bridge Road, London, SE1 0NQ.
The principal activity of the company during the year has been that of Development of building projects and buying and selling of own real estate.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ORWELL (CHELMSFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 3).

Page 4

 
ORWELL (CHELMSFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

4.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
42,763
42,763

Other debtors
99
69,260

Prepayments and accrued income
5,493
5,493

48,355
117,516



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,930
9,862

10,930
9,862



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
351,928

Other taxation and social security
65,895
-

Other creditors
4,750
4,750

Accruals and deferred income
5,500
2,750

76,145
359,428



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
13,660,729
10,715,854

13,660,729
10,715,854


Page 5

 
ORWELL (CHELMSFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 1) Ordinary shares of £1.00 each
100
1


On 30 April 2023 99 Orindary shares were allotted at par. 

 
Page 6