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REGISTERED NUMBER: SC375388 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NEAR ORIENT LTD

NEAR ORIENT LTD (REGISTERED NUMBER: SC375388)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

NEAR ORIENT LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: K O'Hara





REGISTERED OFFICE: C/o Acumen Accountants & Advisors Ltd
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX





REGISTERED NUMBER: SC375388 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

NEAR ORIENT LTD (REGISTERED NUMBER: SC375388)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,107 1,094
Investments 5 35,338 29,386
36,445 30,480

CURRENT ASSETS
Debtors 6 56,627 118,005
Cash at bank 229,625 120,917
286,252 238,922
CREDITORS
Amounts falling due within one year 7 56,296 43,641
NET CURRENT ASSETS 229,956 195,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,401

225,761

PROVISIONS FOR LIABILITIES 1,548 -
NET ASSETS 264,853 225,761

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 5,294 -
Retained earnings 259,459 225,661
SHAREHOLDERS' FUNDS 264,853 225,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 4 September 2024 and were signed by:





K O'Hara - Director


NEAR ORIENT LTD (REGISTERED NUMBER: SC375388)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Near Orient Ltd is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Listed investments
Listed investments are initially recognised at cost and subsequently measured at fair value being the market value of shares in issue. Gains or losses on revaluation are recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

NEAR ORIENT LTD (REGISTERED NUMBER: SC375388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 1,181 1,957 3,138
Additions 421 - 421
Disposals - (161 ) (161 )
At 31 March 2024 1,602 1,796 3,398
DEPRECIATION
At 1 April 2023 856 1,188 2,044
Charge for year 104 304 408
Eliminated on disposal - (161 ) (161 )
At 31 March 2024 960 1,331 2,291
NET BOOK VALUE
At 31 March 2024 642 465 1,107
At 31 March 2023 325 769 1,094

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 29,386
Disposals (519 )
Revaluations 6,471
At 31 March 2024 35,338
NET BOOK VALUE
At 31 March 2024 35,338
At 31 March 2023 29,386

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2023 (277 )
Valuation in 2024 6,471
Cost 29,144
35,338

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,878 62,881
Other debtors 17,194 17,194
Directors' current accounts - 37,930
Prepayments 555 -
56,627 118,005

NEAR ORIENT LTD (REGISTERED NUMBER: SC375388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 379 58
Tax 40,195 29,154
Social security and other taxes 439 499
VAT 15,283 13,930
56,296 43,641

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
90 Ordinary A £1 90 90
10 Ordinary B £1 10 10
100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
K O'Hara
Balance outstanding at start of year 37,930 45,999
Amounts advanced 8,684 743
Amounts repaid (46,614 ) (8,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 37,930

The conditions are this loan is subject to interest and there is no fixed repayment period.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is K O'Hara.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NEAR ORIENT LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Near Orient Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Near Orient Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Near Orient Ltd and state those matters that we have agreed to state to the director of Near Orient Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Near Orient Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Near Orient Ltd. You consider that Near Orient Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Near Orient Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


4 September 2024