Golden Orchard Limited 07120111 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 07120111 2023-02-01 2024-01-31 07120111 2024-01-31 07120111 bus:OrdinaryShareClass1 2024-01-31 07120111 core:CurrentFinancialInstruments 2024-01-31 07120111 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07120111 bus:SmallEntities 2023-02-01 2024-01-31 07120111 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07120111 bus:FilletedAccounts 2023-02-01 2024-01-31 07120111 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07120111 bus:RegisteredOffice 2023-02-01 2024-01-31 07120111 bus:Director3 2023-02-01 2024-01-31 07120111 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 07120111 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07120111 countries:EnglandWales 2023-02-01 2024-01-31 07120111 2023-01-31 07120111 2022-02-01 2023-01-31 07120111 2023-01-31 07120111 bus:OrdinaryShareClass1 2023-01-31 07120111 core:CurrentFinancialInstruments 2023-01-31 07120111 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07120111

Golden Orchard Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Golden Orchard Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Golden Orchard Limited

Company Information

Director

Mr Adnan Chaudri

Registered office

42-46 Station Road
Edgware
Middlesex
HA8 7AB

Accountants

Richlands Business Advisers Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Golden Orchard Limited

(Registration number: 07120111)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,511,062

1,511,062

Current assets

 

Debtors

5

6,075

6,043

Cash at bank and in hand

 

29,785

1,631

 

35,860

7,674

Creditors: Amounts falling due within one year

6

(1,484,131)

(1,481,531)

Net current liabilities

 

(1,448,271)

(1,473,857)

Net assets

 

62,791

37,205

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

62,691

37,105

Shareholders' funds

 

62,791

37,205

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and delivered 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr Adnan Chaudri
Director

 

Golden Orchard Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

The principal place of business is:
Flat 7, Quebec Court
21 Seymour Street
Marble Arch
W1H 7JX
United Kingdom

These financial statements were authorised for issue by the director on 30 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.

 

Golden Orchard Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Golden Orchard Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Investment properties

2024
£

At 1 February

1,511,062

At 31 January

1,511,062

The fair value of the investment properties at the date of the balance sheet was £1,511,062. The fair value of the investment properties were assessed internally by the directors at the year end.

5

Debtors

Current

2024
£

2023
£

Prepayments

6,075

6,043

 

6,075

6,043

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other creditors

 

10,230

12,930

Accrued expenses

 

1,320

1,080

Corporation tax payable

 

6,001

1,396

Directors current account

 

1,466,580

1,466,125

 

1,484,131

1,481,531

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Transition to FRS 102

This is the first year the company is preparing accounts under FRS 102 Section 1A. The policies applied under the entities previous accounting framework for subsequent measurement of investment properties are different to FRS 102 and have impacted on the equity or profit or loss. There is no need for reinstatement of comparative figures as there is no material difference in the market value of properties compared to its cost.

 

Golden Orchard Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Balance Sheet at 31 January 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Fixed assets

Investment property

1,511,062

-

-

1,511,062

Capital and reserves

Retained earnings

37,205

-

-

37,205

Total equity

37,205

-

-

37,205

Profit and Loss Account for the year ended 31 January 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-