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Company Registration No. 03272871 (England and Wales)
Orbitcove Limited Unaudited accounts for the year ended 30 November 2023
Orbitcove Limited Unaudited accounts Contents
Page
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Orbitcove Limited Company Information for the year ended 30 November 2023
Director
Siobhan Karen O'Neill
Company Number
03272871 (England and Wales)
Registered Office
310D, EW Sterling House Langston Road Loughton IG10 3TS United Kingdom
Accountants
Capital Talks LLP Accountants & Tax consultants 310D - EW Sterling House Langston Road Loughton IG10 3TS
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Orbitcove Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
916,945 
922,593 
Current assets
Cash at bank and in hand
15,441 
10,480 
Creditors: amounts falling due within one year
(6,904)
(6,904)
Net current assets
8,537 
3,576 
Total assets less current liabilities
925,482 
926,169 
Creditors: amounts falling due after more than one year
(473,869)
(480,001)
Net assets
451,613 
446,168 
Capital and reserves
Called up share capital
2 
2 
Revaluation reserve
615,219 
615,219 
Profit and loss account
(163,608)
(169,053)
Shareholders' funds
451,613 
446,168 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2024 and were signed on its behalf by
Siobhan Karen O'Neill Director Company Registration No. 03272871
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Orbitcove Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Orbitcove Limited is a private company, limited by shares, registered in England and Wales, registration number 03272871. The registered office is 310D, EW Sterling House, Langston Road, Loughton, IG10 3TS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
900,000 
53,857 
953,857 
At 30 November 2023
900,000 
53,857 
953,857 
Depreciation
At 1 December 2022
- 
31,264 
31,264 
Charge for the year
- 
5,648 
5,648 
At 30 November 2023
- 
36,912 
36,912 
Net book value
At 30 November 2023
900,000 
16,945 
916,945 
At 30 November 2022
900,000 
22,593 
922,593 
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Orbitcove Limited Notes to the Accounts for the year ended 30 November 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Loans from directors
5,404 
5,404 
Accruals
1,500 
1,500 
6,904 
6,904 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
264,459 
270,591 
Loans from directors
209,410 
209,410 
473,869 
480,001 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Loans to directors
At 30 November 2023 the company owed £214,812.36 amount to S K O'Neill as a result of loans made to the company. The loans are unsecured and interest free. The Director S K O'Neill controls the company as a result of controlling directly 100% of the issued share capital.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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