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Registered number: 11252768









ORANDO INTERNATIONAL (UK) LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ORANDO INTERNATIONAL (UK) LIMITED
REGISTERED NUMBER: 11252768

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2,500,000
2,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
284,412
284,412

Cash at bank and in hand
 6 
66,595
74,202

  
351,007
358,614

Creditors: amounts falling due within one year
 7 
(2,831,033)
(2,828,933)

Net current liabilities
  
 
 
(2,480,026)
 
 
(2,470,319)

Net assets
  
19,974
29,681


Capital and reserves
  

Called up share capital 
 8 
100,000
100,000

Profit and loss account
  
(80,026)
(70,319)

  
19,974
29,681


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 income and retained earnings 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 by: 




Datuk Seri Dr. Eng Wei Chun
Director

Registered number:
11252768
(England and Wales)
25 July 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ORANDO INTERNATIONAL (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Orando International (UK) Limited ("the Company") is a private company limited by shares, incorporated in England and Wales on 13 March 2018. Its registered office is C/O Anthony Daniel Associates, 10 Julian Place, London, England, E14 3AT.
The principal activity of the Company during the period was that of development of building projects.

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.3

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.

 
2.4

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.

 
2.5

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.

Page 2

 
ORANDO INTERNATIONAL (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
2,500,000



At 31 December 2023
2,500,000




Page 3

 
ORANDO INTERNATIONAL (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
284,412
284,412



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
66,595
74,202



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,823,520
2,823,520

Accruals and deferred income
7,513
5,413

2,831,033
2,828,933



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100,000 (2022 - 100,000) Ordinary shares of £1.00 each
100,000
100,000



9.


Related party transactions

As at 31 December 2023, amounts owed to group undertakings of £2,823,520 (2022 -  £2,823,520) as shown in note 7 to the financial statements, relates to amounts owed to Orando Holdings Sdn Bhd (registered in Malaysia).
The company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group.

Page 4

 
ORANDO INTERNATIONAL (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Controlling party

The ultimate controlling party is Orando Holdings Sdn Bhd, a parent company registered in Malaysia.


11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 30 July 2024 by Andrew Barnes (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 5