IRIS Accounts Production v24.3.0.553 13894559 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh138945592023-02-28138945592024-02-29138945592023-03-012024-02-29138945592022-02-03138945592022-02-042023-02-28138945592023-02-2813894559ns15:EnglandWales2023-03-012024-02-2913894559ns14:PoundSterling2023-03-012024-02-2913894559ns10:Director12023-03-012024-02-2913894559ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2913894559ns10:SmallEntities2023-03-012024-02-2913894559ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2913894559ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2913894559ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2913894559ns10:FullAccounts2023-03-012024-02-2913894559ns10:OrdinaryShareClass12023-03-012024-02-2913894559ns10:Director22023-03-012024-02-2913894559ns10:RegisteredOffice2023-03-012024-02-2913894559ns5:CurrentFinancialInstruments2024-02-2913894559ns5:CurrentFinancialInstruments2023-02-2813894559ns5:Non-currentFinancialInstruments2024-02-2913894559ns5:Non-currentFinancialInstruments2023-02-2813894559ns5:ShareCapital2024-02-2913894559ns5:ShareCapital2023-02-2813894559ns5:RetainedEarningsAccumulatedLosses2024-02-2913894559ns5:RetainedEarningsAccumulatedLosses2023-02-2813894559ns5:FurnitureFittings2023-03-012024-02-2913894559ns5:PlantMachinery2023-02-2813894559ns5:PlantMachinery2023-03-012024-02-2913894559ns5:PlantMachinery2024-02-2913894559ns5:PlantMachinery2023-02-2813894559ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2913894559ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2813894559ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 13894559 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

OR Collective Limited

OR Collective Limited (Registered number: 13894559)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OR Collective Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: D C S Staple
Mrs B O Staple-Knaggs





REGISTERED OFFICE: Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX





REGISTERED NUMBER: 13894559 (England and Wales)





ACCOUNTANT: Dedham Accountancy & Taxation Services Limited
t/a R J Woods & Co
Santa Maria
Anchor Lane, The Heath
Dedham
Colchester
Essex
CO7 6BX

OR Collective Limited (Registered number: 13894559)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,264 1,072

CURRENT ASSETS
Stocks 77,397 42,246
Debtors 6 4,853 2,101
Cash at bank 15 304
82,265 44,651
CREDITORS
Amounts falling due within one year 7 7,274 1,709
NET CURRENT ASSETS 74,991 42,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,255

44,014

CREDITORS
Amounts falling due after more than one
year

8

149,095

74,195
NET LIABILITIES (72,840 ) (30,181 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (72,940 ) (30,281 )
SHAREHOLDERS' FUNDS (72,840 ) (30,181 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

OR Collective Limited (Registered number: 13894559)

Balance Sheet - continued
29 February 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:





Mrs B O Staple-Knaggs - Director


OR Collective Limited (Registered number: 13894559)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

OR Collective Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are presented in Sterling (£).

Going concern
The directors have considered the company's financial resources and projections for future growth. In addition, the directors have confirmed that they will continue to financially support the company for the foreseeable future, and there have been no indications from the company's other creditors that they will not continue to support the company for the foreseeable future, being a period of at least twelve months from the date of approval of the financial statements. Based on all of this, the director has concluded that there is a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Therefore, the company will continue to adopt the going concern basis of accounting in preparing these financial statements.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent 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 tax charge is calculated on the basis of the tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.

OR Collective Limited (Registered number: 13894559)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. ACCOUNTING POLICIES - continued

Deferred tax balances are not recognised in respect of permanent timing differences except in respect of business combinations, when deferred tax is recognised on the differences between fair values of assets acquired and the future tax deductions available for them and the differences between fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 1,220
Additions 666
At 29 February 2024 1,886
DEPRECIATION
At 1 March 2023 148
Charge for year 474
At 29 February 2024 622
NET BOOK VALUE
At 29 February 2024 1,264
At 28 February 2023 1,072

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 4,853 2,101

OR Collective Limited (Registered number: 13894559)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 4,451 -
Trade creditors 254 254
Taxation and social security 1,652 -
Other creditors 917 1,455
7,274 1,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other creditors 149,095 74,195

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

Other creditors included in Creditors: Amounts falling due after more than one year, includes amounts loaned to the company by one of the directors totalling £89,095 (2023:£74,195). The amounts loaned were for working capital and are not due for repayment until after one year from the Balance Sheet date. The loans are unsecured and interest-free.