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Registration number: 13417114

Orca Property Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Orca Property Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Orca Property Holdings Ltd

Company Information

Directors

Mrs Amanda Jacqueline Roddy

Mr Ryan Paul Roddy

Registered office

1 Plemstall Way
Mickle Trafford
Chester
CH2 1QJ

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Orca Property Holdings Ltd

(Registration number: 13417114)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

230,000

460,000

Current assets

 

Debtors

5

3,261

829

Cash at bank and in hand

 

4,128

1,282

 

7,389

2,111

Creditors: Amounts falling due within one year

6

(1,371)

(1,370)

Net current assets

 

6,018

741

Total assets less current liabilities

 

236,018

460,741

Creditors: Amounts falling due after more than one year

6

(249,156)

(466,742)

Provisions for liabilities

-

(6,576)

Net liabilities

 

(13,138)

(12,577)

Capital and reserves

 

Called up share capital

100

-

Share premium reserve

-

100

Revaluation reserve

-

28,033

Retained earnings

(13,238)

(40,710)

Shareholders' deficit

 

(13,138)

(12,577)

For the financial year ending 31 May 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.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

 

Orca Property Holdings Ltd

(Registration number: 13417114)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Mrs Amanda Jacqueline Roddy
Director

.........................................
Mr Ryan Paul Roddy
Director

 

Orca Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
1 Plemstall Way
Mickle Trafford
Chester
CH2 1QJ

These financial statements were authorised for issue by the Board on 31 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.

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.

 

Orca Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

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 directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 June

460,000

Disposals

(220,000)

Fair value adjustments

(10,000)

At 31 May

230,000

The fair value of the property at 31st May 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £230,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

There has been no valuation of investment property by an independent valuer.

 

Orca Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,431

-

Prepayments

-

(1)

Other debtors

830

830

 

3,261

829

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

135

135

Accruals and deferred income

405

405

Other creditors

831

830

1,371

1,370

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

211,732

428,432

Other non-current financial liabilities

 

37,424

38,310

 

249,156

466,742

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(28,033)

(28,033)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

Orca Property Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

7

Reserves (continued)

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

8,100

8,100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

211,732

428,432