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COMPANY REGISTRATION NUMBER: 02153523
Orchid Properties (Construction) Limited.
Unaudited financial statements
31 March 2024
Orchid Properties (Construction) Limited.
Statement of financial position
31 March 2024
31 Mar 24
31 Dec 22
Note
£
£
£
£
Current assets
Stocks
153,301
Debtors
5
2,004,555
717,882
Cash at bank and in hand
1,257,974
2,596,583
-----------
-----------
3,415,830
3,314,465
Creditors: Amounts falling due within one year
6
( 258,918)
( 462,905)
-----------
-----------
Net current assets
3,156,912
2,851,560
-----------
-----------
Total assets less current liabilities
3,156,912
2,851,560
-----------
-----------
Net assets
3,156,912
2,851,560
-----------
-----------
Capital and reserves
Called up share capital
30,000
30,000
Share premium account
1,871
1,871
Profit and loss account
3,125,041
2,819,689
-----------
-----------
Shareholders funds
3,156,912
2,851,560
-----------
-----------
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 income statement has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
R W Frenzel
Director
Company registration number: 02153523
Orchid Properties (Construction) Limited.
Notes to the financial statements
Period from 1 January 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The trading address and registered office is Street Farmhouse, 728 Old Norwich Road, Ipswich, Suffolk, IP1 6LG.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
4. Employee numbers
The average number of employees during the period was 1 (2022: 1 ).
5. Debtors
31 Mar 24
31 Dec 22
£
£
Trade debtors
166,750
446,600
Other debtors
1,837,805
271,282
-----------
---------
2,004,555
717,882
-----------
---------
6. Creditors: Amounts falling due within one year
31 Mar 24
31 Dec 22
£
£
Trade creditors
150,645
347,776
Social security and other taxes
95,768
96,416
Other creditors
12,505
18,713
---------
---------
258,918
462,905
---------
---------