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Registered number: 11871675









ORINT DEVELOPMENTS & SUPPORT SERVICES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
REGISTERED NUMBER: 11871675

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024


2024

2023
Note
£
£
£
£

  

Current assets
  

Stocks
 4 
588,049
588,049

Debtors: amounts falling due within one year
 5 
8,050
-

Cash at bank and in hand
 7 
1,363
1,391

  
597,462
589,440

Creditors: amounts falling due within one year
 8 
(587,306)
(550,774)

Net current assets
  
 
 
10,156
 
 
38,666

Creditors: amounts falling due after more than one year
 9 
(7,723)
(11,667)

  

Net assets
  
2,433
26,999


Capital and reserves
  

Called up share capital 
 12 
200
200

Profit and loss account
  
2,233
26,799

  
2,433
26,999

Page 1

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
REGISTERED NUMBER: 11871675
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 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 by




R J Osborn
Director

Date: 25 November 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Orint Developments & Support Services Ltd is a company limited by shares, incorporated in England and Wales. The address of the registered office is The Old Brewery Stables, Windmill Close, Ivinghoe, Leighton Buzzard, Buckinghamshire, LU7 9EW.
The company specialises in development projects.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis, on the grounds that the directors have provided an undertaking that they will support the company for the foreseeable future to enable the company's liabilities to be met as they fall due, and specifically for a period of not less than 12 months from the date of approval of these financial statements. On this basis, the directors believe that the preparation of the accounts on a going concern basis is appropriate.

 
2.3

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Page 3

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 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 reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the 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.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.7

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.

 
2.8

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.

Page 4

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Stocks

2024
2023
£
£

Property stock
588,049
588,049

588,049
588,049



5.


Debtors


6.


Debtors

2024
2023
£
£



Deferred taxation
8,050
-

8,050
-


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,363
1,391

1,363
1,391


Page 5

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
44,444
60,000

Corporation tax
-
7,007

Other creditors
518,291
460,699

Accruals and deferred income
14,571
13,068

587,306
550,774



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,723
11,667

7,723
11,667



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
7,723
10,000

Amounts falling due 2-5 years

Bank loans
-
1,667

17,723
21,667


Page 6

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Deferred taxation




2024


£






Credited to the Statement of comprehensive income
8,050



At end of year
8,050

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
8,050
-

8,050
-


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100
100 Ordinary A shares of £1 each
100
100

200

200

All share classes rank pari passu in every respect except that dividends may be declared at different rates on different classes of shares.



13.


Related party transactions

Included within other creditors is an amount of £493,168 (2023 - £432,820) owed to the directors. During the year, the company accrued interest of £11,571 (2023 - £8,052) payable to the directors.
 
During the year, the company was invoiced management charges of £Nil (2023 - £48,000) from a company under common control. In addition, the company had costs settled on its behalf of £Nil (2023 - £11,682), and paid amounts totalling £4,934 (2023 - £200,647).
 
At the year end, the amount due to this related party was £25,123 (2023 - £27,879).

Page 7

 
ORINT DEVELOPMENTS & SUPPORT SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Controlling party

The company is controlled by R J Osborn by virtue of his majority shareholding. 

 
Page 8