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Registration number: 01855852

ORION SCREEN PROCESS LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

ORION SCREEN PROCESS LTD

Contents

Directors' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

ORION SCREEN PROCESS LTD

Directors' Report for the Year Ended 30 September 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr IAN RICHARD PRICE - Company secretary and director

Mr GARY BLACKBURN

Principal activity

The principal activity of the company is screen processing

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr GARY BLACKBURN
Director

 

ORION SCREEN PROCESS LTD

(Registration number: 01855852)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

920

1,840

Tangible assets

5

4,506

3,985

 

5,426

5,825

Current assets

 

Stocks

6

2,680

4,520

Debtors

7

51,448

68,453

Cash at bank and in hand

 

88,266

59,080

 

142,394

132,053

Creditors: Amounts falling due within one year

8

(77,613)

(72,432)

Net current assets

 

64,781

59,621

Net assets

 

70,207

65,446

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

70,107

65,346

Shareholders' funds

 

70,207

65,446

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024 and signed on its behalf by:
 

.........................................
Mr GARY BLACKBURN
Director

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
UNIT 2
SAINSBURY WAY
HESSLE
EAST YORKSHIRE
HU13 9NX

These financial statements were authorised for issue by the Board on 25 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% net book value

Motor vehicles

25% net book value

Furniture and fittings

15% net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

straight line over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

4,600

4,600

At 30 September 2024

4,600

4,600

Amortisation

At 1 October 2023

2,760

2,760

Amortisation charge

920

920

At 30 September 2024

3,680

3,680

Carrying amount

At 30 September 2024

920

920

At 30 September 2023

1,840

1,840

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

21,851

162,937

184,788

Additions

-

3,180

3,180

At 30 September 2024

21,851

166,117

187,968

Depreciation

At 1 October 2023

20,282

160,521

180,803

Charge for the year

370

2,289

2,659

At 30 September 2024

20,652

162,810

183,462

Carrying amount

At 30 September 2024

1,199

3,307

4,506

At 30 September 2023

1,569

2,416

3,985

6

Stocks

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Work in progress

1,130

590

Other inventories

1,550

3,930

2,680

4,520

7

Debtors

Current

2024
£

2023
£

Trade debtors

46,138

59,150

Prepayments

4,463

8,456

Other debtors

847

847

 

51,448

68,453

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

3,167

3,166

Trade creditors

 

42,189

42,449

Taxation and social security

 

12,945

7,571

Accruals and deferred income

 

3,550

3,450

Other creditors

 

15,762

15,796

 

77,613

72,432

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

3,167

3,166

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

40,011

40,111

Later than one year and not later than five years

82,897

122,902

122,908

163,013

The amount of non-cancellable operating lease payments recognised as an expense during the year was £39,893 (2023 - £35,793).

 

ORION SCREEN PROCESS LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

12

Dividends

2024

2023

£

£

Interim dividend of £100.00 (2023 - £Nil) per ordinary share

10,000

-

 

 

13

Parent and ultimate parent undertaking

The ultimate controlling party is Mr G Blackburn..