2023-06-012024-05-312024-05-31false12010479ORBIT RECRUITMENT GROUP 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ORBIT RECRUITMENT GROUP LTD

Registered Number
12010479
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

ORBIT RECRUITMENT GROUP LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

WOODHEAD, Connor

Registered Address

50 Calderdale Avenue
Newcastle Upon Tyne
NE6 4HN

Registered Number

12010479 (England and Wales)
ORBIT RECRUITMENT GROUP LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,1405,291
4,1405,291
Current assets
Debtors4-28,297
Cash at bank and on hand7,58198,443
7,581126,740
Creditors amounts falling due within one year5(907)(26,070)
Net current assets (liabilities)6,674100,670
Total assets less current liabilities10,814105,961
Net assets10,814105,961
Capital and reserves
Called up share capital11
Profit and loss account10,813105,960
Shareholders' funds10,814105,961
The financial statements were approved and authorised for issue by the Director on 10 October 2024, and are signed on its behalf by:
WOODHEAD, Connor
Director
Registered Company No. 12010479
ORBIT RECRUITMENT GROUP LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
2.Average number of employees

20242023
Average number of employees during the year21
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 June 237,7997,799
Additions498498
At 31 May 248,2978,297
Depreciation and impairment
At 01 June 232,5082,508
Charge for year1,6491,649
At 31 May 244,1574,157
Net book value
At 31 May 244,1404,140
At 31 May 235,2915,291
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-28,297
Total-28,297
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1341,048
Amounts owed to related parties2336,451
Taxation and social security-18,043
Accrued liabilities and deferred income540528
Total90726,070