0 false false false false false false false false false true false false false false true true No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 22,800 xbrli:pure xbrli:shares iso4217:GBP 09146434 2023-01-01 2023-12-31 09146434 2023-12-31 09146434 2022-01-01 2022-12-31 09146434 2022-12-31 09146434 bus:Director1 2023-01-01 2023-12-31 09146434 core:WithinOneYear 2023-12-31 09146434 core:WithinOneYear 2022-12-31 09146434 core:ShareCapital 2023-12-31 09146434 core:ShareCapital 2022-12-31 09146434 core:RetainedEarningsAccumulatedLosses 2023-12-31 09146434 core:RetainedEarningsAccumulatedLosses 2022-12-31 09146434 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 09146434 core:Non-currentFinancialInstruments 2023-12-31 09146434 core:Non-currentFinancialInstruments 2022-12-31 09146434 core:DeferredTaxation 2023-12-31 09146434 bus:SmallEntities 2023-01-01 2023-12-31 09146434 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09146434 bus:FullAccounts 2023-01-01 2023-12-31 09146434 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09146434 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 09146434
Orion House Development Ltd
Filleted Unaudited Financial Statements
31 December 2023
Orion House Development Ltd
Balance Sheet
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
120,002
126,502
Current assets
Debtors
5
13,000
Cash at bank and in hand
1,260
1,308
--------
-------
14,260
1,308
Creditors: amounts falling due within one year
6
2,035
2,013
--------
-------
Net current assets/(liabilities)
12,225
( 705)
---------
---------
Total assets less current liabilities
132,227
125,797
Provisions
Taxation including deferred tax
7
22,800
22,800
---------
---------
Net assets
109,427
102,997
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
9
109,327
102,897
---------
---------
Shareholders funds
109,427
102,997
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Orion House Development Ltd
Balance Sheet (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Mr H Shah
Director
Company registration number: 09146434
Orion House Development Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9A The Broadway, Stanmore, Middlesex, HA7 4DA, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Borrowing costs
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying capital asset forms part of the cost of that asset and, therefore are capitalised. Other borrowing costs are recognised as an expense through profit and loss.
Revenue recognition
The rental income shown in the profit and loss account represents amounts receivable for the period.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investment properties are revalued annually to their fair value and any surplus or deficit is dealt with through profit and loss. No depreciation or amortisation is provided in respect of investment properties.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
Investment properties
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
2
120,000
120,002
----
---------
---------
Impairment
At 1 January 2023 and 31 December 2023
----
---------
---------
Carrying amount
At 31 December 2023
2
120,000
120,002
----
---------
---------
At 31 December 2022
2
120,000
120,002
----
---------
---------
The valuation of the company's investment properties were undertaken at the balance sheet date on an open market basis.
No depreciation is provided in respect of the properties.
The company owns 100% of the issued share capital of Jenga House Limited, a company incorporated in England & Wales.
5. Debtors
2023
2022
£
£
Other debtors
13,000
--------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,035
2,013
-------
-------
7. Provisions
Deferred tax (note 8)
£
At 1 January 2023 and 31 December 2023
22,800
--------
8. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions (note 7)
22,800
22,800
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Fair value gains on investment properties
22,800
22,800
--------
--------
9. Profit and loss account
2023 2022
£ £
Distributable reserves 12,127 5,697
Fair value gains on ivestment properties 97,200 97,200
--------- ---------
109,327 102,897
--------- ---------