Little Orange Homes Ltd 13146770 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Rental properties Digita Accounts Production Advanced 6.30.9574.0 true true 13146770 2023-02-01 2024-01-31 13146770 2024-01-31 13146770 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13146770 core:OtherPropertyPlantEquipment 2024-01-31 13146770 bus:SmallEntities 2023-02-01 2024-01-31 13146770 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13146770 bus:FullAccounts 2023-02-01 2024-01-31 13146770 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13146770 bus:RegisteredOffice 2023-02-01 2024-01-31 13146770 bus:Director1 2023-02-01 2024-01-31 13146770 bus:Director2 2023-02-01 2024-01-31 13146770 bus:Director3 2023-02-01 2024-01-31 13146770 bus:Director4 2023-02-01 2024-01-31 13146770 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13146770 core:InvestmentPropertyIncludedWithinPPE 2023-02-01 2024-01-31 13146770 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 13146770 countries:EnglandWales 2023-02-01 2024-01-31 13146770 2023-01-31 13146770 core:OtherPropertyPlantEquipment 2023-01-31 13146770 2022-02-01 2023-01-31 13146770 2023-01-31 13146770 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13146770 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13146770

Little Orange Homes Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Little Orange Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Little Orange Homes Ltd

Company Information

Directors

Mr J A Orridge

Miss K J Orridge

Mrs T C Orridge

Mr G J L Orridge

Registered office

Office 7
Unit 16 Dinan Way Trading Estate
Concorde Road
Exmouth
Devon
EX8 4RS

Accountants

Jon Ransom FCA
Office 7, Unit 16
Dinan Way Trading Estate
Concorde Road
Exmouth
Devon
EX8 4RS

 

Little Orange Homes Ltd

(Registration number: 13146770)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

82

110

Investment property

5

250,000

250,000

 

250,082

250,110

Current assets

 

Cash at bank and in hand

 

19,091

11,014

Creditors: Amounts falling due within one year

6

(170,957)

(170,725)

Net current liabilities

 

(151,866)

(159,711)

Total assets less current liabilities

 

98,216

90,399

Provisions for liabilities

(18,753)

(18,753)

Net assets

 

79,463

71,646

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

79,363

71,546

Shareholders' funds

 

79,463

71,646

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 5 August 2024 and signed on its behalf by:
 

.........................................
Mr J A Orridge
Director

 

Little Orange Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 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:
Office 7
Unit 16 Dinan Way Trading Estate
Concorde Road
Exmouth
Devon
EX8 4RS

The principal place of business is:
7 Alpine Road
Torquay
Devon
TQ1 1RE

These financial statements were authorised for issue by the Board on 5 August 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.

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 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.

 

Little Orange Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Freehold Investment Property

No depreciation is charged

Investment property

The investment property is periodically revalued by a professional valuer and in between, by the directors.

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 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Little Orange Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

110

110

At 31 January 2024

110

110

Depreciation

Charge for the year

28

28

At 31 January 2024

28

28

Carrying amount

At 31 January 2024

82

82

At 31 January 2023

110

110

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 February

250,000

At 31 January

250,000

The Investment Property has been valued on an open maket basis

There has been no valuation of investment property by an independent valuer.

The investment property was acquired on the 25 March 2021. The cost was £151,301.60. The property was revalued in 2022 by £48,698.40 and by a further £50,000 in 2023.

Company law does not allow dividends to be paid on unrealised profits. The reserves total £79,363. Of that figure, £79,945 is unrealised profit and the balance represents a net rental loss of £582 carried forward.
 

 

Little Orange Homes Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

600

550

Other creditors

170,357

170,175

170,957

170,725

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

ordinary shares of £1 each

100

100

100

100