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REGISTERED NUMBER: 02853184 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Orbit Tickets Limited

Orbit Tickets Limited (Registered number: 02853184)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Orbit Tickets Limited (Registered number: 02853184)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 169,135 52,132
Tangible assets 5 61,530 33,750
Investments 6 228,867 236,535
459,532 322,417

CURRENT ASSETS
Debtors 7 2,036,933 2,146,989
Cash at bank and in hand 677,141 560,663
2,714,074 2,707,652
CREDITORS
Amounts falling due within one year 8 468,804 387,967
NET CURRENT ASSETS 2,245,270 2,319,685
TOTAL ASSETS LESS CURRENT LIABILITIES 2,704,802 2,642,102

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,704,702 2,642,002
SHAREHOLDERS' FUNDS 2,704,802 2,642,102

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





Mr P A Betesh - Director


Orbit Tickets Limited (Registered number: 02853184)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Orbit Tickets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02853184

Registered office: Queens Chambers
5 John Dalton Street
Manchester
M2 6ET

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.

Turnover
Turnover represents the amount derived from ordinary activities, stated after trade discounts, value added tax and any other sales taxes, where applicable. Turnover is the value of work performed during the year with respect to services and is recognised on the provision of services on a percentage degree of completion basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

IT development is being amortised evenly over its estimated useful life of three years.

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 - 15% on cost
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Orbit Tickets Limited (Registered number: 02853184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 33 ) .

4. INTANGIBLE FIXED ASSETS
IT
development
£   
COST
At 1 April 2023 55,468
Additions 161,707
At 31 March 2024 217,175
AMORTISATION
At 1 April 2023 3,336
Amortisation for year 44,704
At 31 March 2024 48,040
NET BOOK VALUE
At 31 March 2024 169,135
At 31 March 2023 52,132

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 110,119 123,139 233,258
Additions 8,049 47,487 55,536
At 31 March 2024 118,168 170,626 288,794
DEPRECIATION
At 1 April 2023 103,334 96,174 199,508
Charge for year 2,714 25,042 27,756
At 31 March 2024 106,048 121,216 227,264
NET BOOK VALUE
At 31 March 2024 12,120 49,410 61,530
At 31 March 2023 6,785 26,965 33,750

Orbit Tickets Limited (Registered number: 02853184)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 236,535
Disposals (7,668 )
At 31 March 2024 228,867
NET BOOK VALUE
At 31 March 2024 228,867
At 31 March 2023 236,535

Valuation in 2024 187,395
187,395


The devaluation of £41,472 has not been reflected within the results for the year.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 359 1,062
Amounts owed by group undertakings - 33,469
Other debtors 2,036,574 2,112,458
2,036,933 2,146,989

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 65,658 14,195
Amounts owed to group undertakings 122,760 12,395
Taxation and social security 56,699 94,470
Other creditors 223,687 266,907
468,804 387,967

9. RELATED PARTY DISCLOSURES

Included within the creditors note 11 are balances due to related parties of £6,229 (2023: £12,395) and £116,531 (2023: £33,469 debtor):

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Orbit Tickets Group Limited.