Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Interior Designfalse2023-04-0133truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05107632 2023-04-01 2024-03-31 05107632 2022-04-01 2023-03-31 05107632 2024-03-31 05107632 2023-03-31 05107632 c:Director1 2023-04-01 2024-03-31 05107632 d:FurnitureFittings 2023-04-01 2024-03-31 05107632 d:FurnitureFittings 2024-03-31 05107632 d:FurnitureFittings 2023-03-31 05107632 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05107632 d:ComputerEquipment 2023-04-01 2024-03-31 05107632 d:ComputerEquipment 2024-03-31 05107632 d:ComputerEquipment 2023-03-31 05107632 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05107632 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05107632 d:Goodwill 2023-04-01 2024-03-31 05107632 d:Goodwill 2024-03-31 05107632 d:Goodwill 2023-03-31 05107632 d:CurrentFinancialInstruments 2024-03-31 05107632 d:CurrentFinancialInstruments 2023-03-31 05107632 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05107632 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05107632 d:ShareCapital 2024-03-31 05107632 d:ShareCapital 2023-03-31 05107632 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05107632 d:RetainedEarningsAccumulatedLosses 2024-03-31 05107632 d:RetainedEarningsAccumulatedLosses 2023-03-31 05107632 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 05107632 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 05107632 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05107632 c:OrdinaryShareClass1 2024-03-31 05107632 c:OrdinaryShareClass1 2023-03-31 05107632 c:FRS102 2023-04-01 2024-03-31 05107632 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05107632 c:FullAccounts 2023-04-01 2024-03-31 05107632 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05107632 2 2023-04-01 2024-03-31 05107632 6 2023-04-01 2024-03-31 05107632 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 05107632 1 2024-03-31 05107632 2 2024-03-31 05107632 1 2023-03-31 05107632 2 2023-03-31 05107632 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05107632










COLIN ORCHARD & COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
COLIN ORCHARD & COMPANY LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 12


 
COLIN ORCHARD & COMPANY LIMITED
REGISTERED NUMBER: 05107632

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,640
3,280

Tangible assets
 5 
7,356
10,493

Investments
 6 
167,892
167,878

  
176,888
181,651

Current assets
  

Debtors: amounts falling due within one year
 7 
207,411
303,348

Cash at bank and in hand
 8 
248,711
591,407

  
456,122
894,755

Creditors: amounts falling due within one year
 9 
(114,300)
(523,261)

Net current assets
  
 
 
341,822
 
 
371,494

Total assets less current liabilities
  
518,710
553,145

  

Net assets
  
518,710
553,145


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
 12 
518,708
553,143

  
518,710
553,145


Page 1

 
COLIN ORCHARD & COMPANY LIMITED
REGISTERED NUMBER: 05107632

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2024.


Colin S Orchard
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Colin Orchard & Company Limited is a private company, limited by shares, incorporated in England and Wales with Company Registration Number 05107632.  The registered office is situated at 219A Kings Road, London, SW3 5EJ.  The principal activity of the company is that of interior design.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

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

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 5

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets
Page 6

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Page 7

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
32,800



At 31 March 2024

32,800



Amortisation


At 1 April 2023
29,520


Charge for the year on owned assets
1,640



At 31 March 2024

31,160



Net book value



At 31 March 2024
1,640



At 31 March 2023
3,280



Page 8

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
31,621
14,171
45,792


Additions
-
1,503
1,503



At 31 March 2024

31,621
15,674
47,295



Depreciation


At 1 April 2023
23,417
11,881
35,298


Charge for the year on owned assets
3,625
1,016
4,641



At 31 March 2024

27,042
12,897
39,939



Net book value



At 31 March 2024
4,579
2,777
7,356



At 31 March 2023
8,203
2,290
10,493

Page 9

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2023
102,410
167,878
270,288


Revaluations
-
14
14



At 31 March 2024

102,410
167,892
270,302



Impairment


At 1 April 2023
102,410
-
102,410



At 31 March 2024

102,410
-
102,410



Net book value



At 31 March 2024
-
167,892
167,892



At 31 March 2023
-
167,878
167,878

Page 10

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
12,366
15,866

Other debtors
99,337
109,218

Prepayments and accrued income
95,708
138,954

Tax recoverable
-
39,310

207,411
303,348



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
248,711
591,407

248,711
591,407



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
9,145
134,142

Corporation tax
34,596
45,168

Other taxation and social security
2,962
2,944

Other creditors
4,650
5,670

Accruals and deferred income
62,947
335,337

114,300
523,261


2024
2023
£
£

Other taxation and social security

PAYE/NI control
2,962
2,944

2,962
2,944


Page 11

 
COLIN ORCHARD & COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
248,711
591,407




Financial assets measured at fair value through profit or loss are comprised of cash and cash equivalents.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



12.


Reserves

Profit & loss account

The profit and loss account is a fully distributable reserve and includes all current and prior year retained profits and losses.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,461 (2023: £3,245).  Contributions totalling £662 (2023 - £630) were payable to the fund at the balance sheet date and are included in creditors.


Page 12