IRIS Accounts Production v24.2.0.383 09579723 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh095797232023-05-31095797232024-05-31095797232023-06-012024-05-31095797232022-05-31095797232022-06-012023-05-31095797232023-05-3109579723ns14:PoundSterling2023-06-012024-05-3109579723ns10:Director12023-06-012024-05-3109579723ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109579723ns10:SmallEntities2023-06-012024-05-3109579723ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109579723ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109579723ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109579723ns10:FullAccounts2023-06-012024-05-3109579723ns10:Director22023-06-012024-05-3109579723ns10:Director32023-06-012024-05-3109579723ns10:RegisteredOffice2023-06-012024-05-3109579723ns5:CurrentFinancialInstruments2024-05-3109579723ns5:CurrentFinancialInstruments2023-05-3109579723ns5:Non-currentFinancialInstruments2024-05-3109579723ns5:Non-currentFinancialInstruments2023-05-3109579723ns5:ShareCapital2024-05-3109579723ns5:ShareCapital2023-05-3109579723ns5:RetainedEarningsAccumulatedLosses2024-05-3109579723ns5:RetainedEarningsAccumulatedLosses2023-05-3109579723ns5:FurnitureFittings2023-06-012024-05-3109579723ns5:ComputerEquipment2023-06-012024-05-3109579723ns5:FurnitureFittings2023-05-3109579723ns5:ComputerEquipment2023-05-3109579723ns5:FurnitureFittings2024-05-3109579723ns5:ComputerEquipment2024-05-3109579723ns5:FurnitureFittings2023-05-3109579723ns5:ComputerEquipment2023-05-3109579723ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3109579723ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3109579723ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-05-3109579723ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3109579723ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3109579723ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3109579723ns5:WithinOneYear2024-05-3109579723ns5:WithinOneYear2023-05-3109579723ns10:Director222023-05-3109579723ns10:Director222022-05-3109579723ns10:Director222023-06-012024-05-3109579723ns10:Director222022-06-012023-05-3109579723ns10:Director222024-05-3109579723ns10:Director222023-05-31
REGISTERED NUMBER: 09579723















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ORION HERITAGE LIMITED

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORION HERITAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: R J T Bourn
Dr R J Smith
Mrs J Bourn





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 09579723





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 9,717 14,319

CURRENT ASSETS
Debtors 4 423,203 312,542
Cash at bank 71,239 40,157
494,442 352,699
CREDITORS
Amounts falling due within one year 5 469,995 315,691
NET CURRENT ASSETS 24,447 37,008
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,164

51,327

CREDITORS
Amounts falling due after more than one
year

6

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES (2,429 ) (3,580 )
NET ASSETS 21,735 27,747

CAPITAL AND RESERVES
Called up share capital 111 111
Retained earnings 21,624 27,636
SHAREHOLDERS' FUNDS 21,735 27,747

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





R J T Bourn - Director


ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. 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.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2023 2,968 42,704 45,672
Additions - 5,225 5,225
Disposals (1,852 ) (15,733 ) (17,585 )
At 31 May 2024 1,116 32,196 33,312
DEPRECIATION
At 1 June 2023 2,033 29,320 31,353
Charge for year 278 8,607 8,885
Eliminated on disposal (1,787 ) (14,856 ) (16,643 )
At 31 May 2024 524 23,071 23,595
NET BOOK VALUE
At 31 May 2024 592 9,125 9,717
At 31 May 2023 935 13,384 14,319

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 368,576 227,961
Other debtors 8,724 8,724
Directors' loan accounts - 594
Accrued income 18,825 23,183
Prepayments 27,078 52,080
423,203 312,542

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 141,346 103,064
Trade creditors 102,012 30,801
Tax 93,409 87,100
Social security and other taxes 11,793 14,378
VAT 80,325 45,490
Other creditors 212 212
Directors' loan accounts 3,531 818
Accrued expenses 37,367 33,828
469,995 315,691

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years - 10,000
10,000 20,000

ORION HERITAGE LIMITED (REGISTERED NUMBER: 09579723)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 46,232 22,033

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Dr R J Smith
Balance outstanding at start of year 595 (8 )
Amounts advanced - 603
Amounts repaid (2,597 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,002 ) 595

During the year, R J T Bourn and Mrs J Bourn increased their joint loan to the company. As at 31 May 2023, the company owed them £1,528 (2023 £818).

These balances represented the maximum amount outstanding during the year and the loans were interest free and repayable on demand.

Finally, during the year the company paid R J T Bourn and Mrs J Bourn rent amounting to £2,300 (2023: £2,156) and Dr R J Smith £2,002 (2023: £2,156) as a result of utilising office space within their homes.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R J T Bourn and J Bourn.

This was by virtue of their 55% holding of the issued share capital.