ORICAM LTD
Statement of financial position
as at 31 October 2023
Tangible assets
2,979
1,484
Cash at bank and in hand
5,468
1,910
Creditors: amounts falling due within one year
(11,455)
(3,445)
Net current liabilities
(5,987)
(1,535)
Total assets less current liabilities
(3,008)
(51)
Creditors: amounts falling due after more than one year
(78,410)
(65,200)
Net liabilities
(81,418)
(65,251)
Called up share capital
100
100
Profit and loss account
(81,518)
(65,351)
Shareholders' funds
(81,418)
(65,251)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 July 2024 and were signed on its behalf by
Mrs KYOUNG HWA GYE
Director
Company Registration No. 12263570
ORICAM LTD
Notes to the Accounts
for the year ended 31 October 2023
ORICAM LTD is a private company, limited by shares, registered in England and Wales, registration number 12263570. The registered office is 1F, Unit 5 Wyvern Ind Estate, Beverley Way, New Malden, KT3 4PH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% reducing balance
Computer equipment
10% reducing balance
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction.
The director has reasonable expectation that the Company as a wholly owned subsidiary has adequate resources from its
parent company in South Korea to continue in operational existence in the UK for the foreseeable future. Accordingly, the director has prepared the financial statements under the going concern basis.
ORICAM LTD
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2022
-
1,919
1,919
At 31 October 2023
1,933
1,919
3,852
At 1 November 2022
-
435
435
Charge for the year
290
148
438
At 31 October 2023
290
583
873
At 31 October 2023
1,643
1,336
2,979
At 31 October 2022
-
1,484
1,484
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,164
180
Other creditors
3,352
1,419
6
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
78,410
65,200
The parent entity in South Korea has funded GBP 78,410 since its UK subsidiary incorporation.
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).