Company registration number 10809511 (England and Wales)
ORCHARD PARADE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ORCHARD PARADE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ORCHARD PARADE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
346,346
346,346
Current assets
Debtors
4
20
20
Creditors: amounts falling due within one year
5
(104,442)
(92,303)
Net current liabilities
(104,422)
(92,283)
Total assets less current liabilities
241,924
254,063
Creditors: amounts falling due after more than one year
6
(82,846)
(120,414)
Net assets
159,078
133,649
Capital and reserves
Called up share capital
7
40
40
Profit and loss reserves
159,038
133,609
Total equity
159,078
133,649

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 August 2024 and are signed on its behalf by:
M S Bansal
Director
Company registration number 10809511 (England and Wales)
ORCHARD PARADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Orchard Parade Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Rental income

Operating lease income from investment properties is recognised in profit and loss on a straight-line basis over the lease term.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

 

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

ORCHARD PARADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
346,346

The value of the investment property has been arrived at by the director on an open market basis by reference to similar property transactions recently concluded. It is deemed that the fair value is not materially different to the historic cost.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
20
20
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,965
6,115
Other creditors
98,477
86,188
104,442
92,303
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
82,846
120,414
ORCHARD PARADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
10 Ordinary A shares of £1 each
10
10
10 Ordinary B shares of £1 each
10
10
10 Ordinary C shares of £1 each
10
10
10 Ordinary D shares of £1 each
10
10
40
40
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