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REGISTERED NUMBER: 12172684 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

ORBNET SYSTEMS LTD

ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORBNET SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: E Bourque
E Cutts





REGISTERED OFFICE: Viking House
17 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 12172684 (England and Wales)

ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,715 16,455

CURRENT ASSETS
Debtors 5 15,174 93,711
Cash at bank 80,226 5,844
95,400 99,555
CREDITORS
Amounts falling due within one year 6 65,321 41,495
NET CURRENT ASSETS 30,079 58,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,794

74,515

PROVISIONS FOR LIABILITIES 2,606 3,412
NET ASSETS 41,188 71,103

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 40,788 70,703
41,188 71,103

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)

BALANCE SHEET - continued
31 AUGUST 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 by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





E Cutts - Director


ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)

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

1. STATUTORY INFORMATION

Orbnet Systems Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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.

ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 - 2,155 20,388 22,543
Additions 449 2,342 291 3,082
At 31 August 2023 449 4,497 20,679 25,625
DEPRECIATION
At 1 September 2022 - 651 5,437 6,088
Charge for year 65 612 5,145 5,822
At 31 August 2023 65 1,263 10,582 11,910
NET BOOK VALUE
At 31 August 2023 384 3,234 10,097 13,715
At 31 August 2022 - 1,504 14,951 16,455

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 12,465 91,923
Other debtors 2,709 1,788
15,174 93,711

ORBNET SYSTEMS LTD (REGISTERED NUMBER: 12172684)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 9,649 1,962
Taxation and social security 39,367 28,394
Other creditors 16,305 11,139
65,321 41,495