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REGISTERED NUMBER: 02944510 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

South Orbital Management Limited

South Orbital Management Limited (Registered number: 02944510)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


South Orbital Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs P A Penrose
C E Pearce
S A Hodges
Mrs K Brooks





SECRETARY: S A Hodges





REGISTERED OFFICE: Eastgate House
Snuff Mill Lane
Newgate Street
Cottingham
East Yorkshire
HU16 4DZ





REGISTERED NUMBER: 02944510 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

South Orbital Management Limited (Registered number: 02944510)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 67,529 68,353

CURRENT ASSETS
Debtors 5 22,317 8,634
Cash at bank 53,315 66,982
75,632 75,616
CREDITORS
Amounts falling due within one year 6 25,361 22,510
NET CURRENT ASSETS 50,271 53,106
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,800

121,459

CREDITORS
Amounts falling due after more than one
year

7

88,753

89,835
NET ASSETS 29,047 31,624

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 48 48
Retained earnings 28,997 31,574
SHAREHOLDERS' FUNDS 29,047 31,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

South Orbital Management Limited (Registered number: 02944510)

Balance Sheet - continued
31 March 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 29 May 2024 and were signed on its behalf by:





Mrs P A Penrose - Director


South Orbital Management Limited (Registered number: 02944510)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

South Orbital Management 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

Turnover
Turnover represents amounts invoiced during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 85 years

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

South Orbital Management Limited (Registered number: 02944510)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 70,000
DEPRECIATION
At 1 April 2023 1,647
Charge for year 824
At 31 March 2024 2,471
NET BOOK VALUE
At 31 March 2024 67,529
At 31 March 2023 68,353

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,760 (8,252 )
Other debtors 19,557 16,886
22,317 8,634

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,516 18,345
Taxation and social security - 370
Other creditors 3,845 3,795
25,361 22,510

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 88,753 89,835