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REGISTERED NUMBER: 10396337 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE ORMSBY GROUP LIMITED

THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ORMSBY GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms S P Fenner
Mrs S J Trayhorn





REGISTERED OFFICE: Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP





REGISTERED NUMBER: 10396337 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP

THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 233,277 311,035
Tangible assets 5 2,774 3,698
236,051 314,733

CURRENT ASSETS
Debtors 6 73,915 70,043
Cash at bank and in hand 83,922 130,007
157,837 200,050
CREDITORS
Amounts falling due within one year 7 170,243 151,703
NET CURRENT (LIABILITIES)/ASSETS (12,406 ) 48,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,645

363,080

CREDITORS
Amounts falling due after more than one
year

8

240,000

320,000
NET (LIABILITIES)/ASSETS (16,355 ) 43,080

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (16,455 ) 42,980
(16,355 ) 43,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)

BALANCE SHEET - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:




Mrs S J Trayhorn - Director



Ms S P Fenner - Director


THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Ormsby Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has net liabilities at 31 December 2023. This is due to longer term loans for which the company has the ongoing support of the lender. On this basis the directors have prepared these financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the period of the lease
Plant and machinery etc - 25% on cost and 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 777,588
AMORTISATION
At 1 January 2023 466,553
Charge for year 77,758
At 31 December 2023 544,311
NET BOOK VALUE
At 31 December 2023 233,277
At 31 December 2022 311,035

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 6,979 48,274 55,253
DEPRECIATION
At 1 January 2023 4,187 47,368 51,555
Charge for year 698 226 924
At 31 December 2023 4,885 47,594 52,479
NET BOOK VALUE
At 31 December 2023 2,094 680 2,774
At 31 December 2022 2,792 906 3,698

THE ORMSBY GROUP LIMITED (REGISTERED NUMBER: 10396337)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 57,673 44,476
Other debtors 16,242 25,567
73,915 70,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 36,908 28,408
Taxation and social security 30,152 25,117
Other creditors 103,183 98,178
170,243 151,703

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 240,000 320,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 142,481 142,481
Between one and five years 280,414 422,895
422,895 565,376

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 320,000 400,000

Other loans are secured by a fixed and floating charge over all of the assets of the company.

11. RELATED PARTY DISCLOSURES

The amount owed to the directors at the balance sheet date is £10,588 (31.12.22: £2,964).

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as no one individual has a greater than 50% shareholding.