Registered number
12650459
Orchids (HALO) Ltd
Unaudited Filleted Accounts
31 March 2024
Orchids (HALO) Ltd
Registered number: 12650459
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 21,441 22,114
Cash at bank and in hand 133,823 97,673
155,264 119,787
Creditors: amounts falling due within one year 4 (24,543) (21,003)
Net current assets 130,721 98,784
Net assets 130,721 98,784
Capital and reserves
Called up share capital 2 2
Profit and loss account 130,719 98,782
Shareholders' funds 130,721 98,784
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs J Morley
Director
Approved by the board on 3 September 2024
Orchids (HALO) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Debtors 2024 2023
£ £
Trade debtors 14,112 15,378
Other debtors 7,329 6,736
21,441 22,114
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10 10
Taxation and social security costs 23,433 19,822
Other creditors 1,100 1,171
24,543 21,003
5 Related party transactions
Included within creditors is an amount owing to Mr & Mrs Morley of £94 (2023: £237) for their Directors loan account.
6 Controlling party
Mr D Morley and Mrs J Morley own the company equally with each having a 50% shareholding.
7 Other information
Orchids (HALO) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Wesley Centre
Blyth Road
Maltby
Rotherham
S66 8JD
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