Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 09428857 Mr Justas Samalionis Mr Kestutis Vireikis Mr Karolis Zilius iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09428857 2023-02-28 09428857 2024-02-29 09428857 2023-03-01 2024-02-29 09428857 frs-core:CurrentFinancialInstruments 2024-02-29 09428857 frs-core:Non-currentFinancialInstruments 2024-02-29 09428857 frs-core:BetweenOneFiveYears 2024-02-29 09428857 frs-core:ComputerEquipment 2024-02-29 09428857 frs-core:ComputerEquipment 2023-03-01 2024-02-29 09428857 frs-core:ComputerEquipment 2023-02-28 09428857 frs-core:FurnitureFittings 2024-02-29 09428857 frs-core:FurnitureFittings 2023-03-01 2024-02-29 09428857 frs-core:FurnitureFittings 2023-02-28 09428857 frs-core:MotorVehicles 2024-02-29 09428857 frs-core:MotorVehicles 2023-03-01 2024-02-29 09428857 frs-core:MotorVehicles 2023-02-28 09428857 frs-core:PlantMachinery 2024-02-29 09428857 frs-core:PlantMachinery 2023-03-01 2024-02-29 09428857 frs-core:PlantMachinery 2023-02-28 09428857 frs-core:WithinOneYear 2024-02-29 09428857 frs-core:ShareCapital 2024-02-29 09428857 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 09428857 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09428857 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 09428857 frs-bus:SmallEntities 2023-03-01 2024-02-29 09428857 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09428857 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09428857 frs-core:UnlistedNon-exchangeTraded 2024-02-29 09428857 frs-core:UnlistedNon-exchangeTraded 2023-02-28 09428857 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-02-28 09428857 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-02-29 09428857 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-02-28 09428857 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-02-29 09428857 frs-bus:Director1 2023-03-01 2024-02-29 09428857 frs-bus:Director2 2023-03-01 2024-02-29 09428857 frs-bus:Director3 2023-03-01 2024-02-29 09428857 frs-core:CurrentFinancialInstruments 1 2024-02-29 09428857 frs-countries:EnglandWales 2023-03-01 2024-02-29 09428857 2022-02-28 09428857 2023-02-28 09428857 2022-03-01 2023-02-28 09428857 frs-core:CurrentFinancialInstruments 2023-02-28 09428857 frs-core:Non-currentFinancialInstruments 2023-02-28 09428857 frs-core:BetweenOneFiveYears 2023-02-28 09428857 frs-core:WithinOneYear 2023-02-28 09428857 frs-core:ShareCapital 2023-02-28 09428857 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 09428857 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 09428857
Ortus Engineering Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Walden Way & Co
Unit A3, Gateway Tower, 32 Western Gateway
London
E16 1YL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09428857
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 104,524 136,511
Investments 5 588 588
105,112 137,099
CURRENT ASSETS
Stocks 6 21,505 21,737
Debtors 7 270,517 243,552
Cash at bank and in hand 45,191 30,296
337,213 295,585
Creditors: Amounts Falling Due Within One Year 8 (411,246 ) (275,267 )
NET CURRENT ASSETS (LIABILITIES) (74,033 ) 20,318
TOTAL ASSETS LESS CURRENT LIABILITIES 31,079 157,417
Creditors: Amounts Falling Due After More Than One Year 9 (37,273 ) (125,527 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,493 ) (25,937 )
NET (LIABILITIES)/ASSETS (31,687 ) 5,953
CAPITAL AND RESERVES
Called up share capital 11 6 3
Profit and Loss Account (31,693 ) 5,950
SHAREHOLDERS' FUNDS (31,687) 5,953
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Karolis Zilius
Director
07/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ortus Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09428857 . The registered office is 826 Wickham Road, West Wickham, Croydon, CR0 8EB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on RBB
Motor Vehicles 25% on RBB
Fixtures & Fittings 25% on RBB
Computer Equipment 25% on RBB
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 277,285 45,641 28,163 26,812 377,901
Additions - - - 999 999
As at 29 February 2024 277,285 45,641 28,163 27,811 378,900
Depreciation
As at 1 March 2023 189,918 20,480 15,526 15,466 241,390
Provided during the period 21,842 6,290 3,160 1,694 32,986
As at 29 February 2024 211,760 26,770 18,686 17,160 274,376
Net Book Value
As at 29 February 2024 65,525 18,871 9,477 10,651 104,524
As at 1 March 2023 87,367 25,161 12,637 11,346 136,511
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5. Investments
Unlisted
£
Cost
As at 1 March 2023 588
As at 29 February 2024 588
Provision
As at 1 March 2023 -
As at 29 February 2024 -
Net Book Value
As at 29 February 2024 588
As at 1 March 2023 588
6. Stocks
2024 2023
£ £
Stock 21,505 37,320
Materials - (15,583 )
21,505 21,737
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 194,552 131,271
Prepayments and accrued income 37,693 83,095
Other debtors (62,242 ) 9,279
Security Door Factory 19,907 19,907
Directors' loan accounts 80,607 -
270,517 243,552
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 54,379 26,307
Trade creditors 190,807 173,891
Corporation tax 23,601 7,627
Other taxes and social security 1,065 899
VAT 25,194 7,344
Other creditors 1,770 -
Pension payable 687 336
Accruals and deferred income 3,660 3,510
Directors' loan accounts 110,083 55,353
411,246 275,267
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,108 91,696
Bank loans 29,165 33,831
37,273 125,527
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 54,379 26,307
Later than one year and not later than five years 8,108 91,696
62,487 118,003
62,487 118,003
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 3
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