REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Orasys Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Orasys Limited |
Orasys Limited (Registered number: 07473834) |
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 |
Orasys Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, |
39 Ludgate hill |
London |
EC4M 7JN |
Orasys Limited (Registered number: 07473834) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 | ( |
) | ( |
) |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
Orasys Limited (Registered number: 07473834) |
Balance Sheet - continued |
31 March 2024 |
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. |
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 |
Orasys Limited (Registered number: 07473834) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Orasys Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Orasys Limited (Registered number: 07473834) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
COST OR VALUATION |
At 1 April 2023 |
Impairments | ( |
) |
Reversal of impairments |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Listed |
investments |
£ |
Valuation in 2021 | 67,499 |
Valuation in 2022 | (62,435 | ) |
Valuation in 2023 | 2,024 |
Valuation in 2024 | (2,041 | ) |
5,047 |
Orasys Limited (Registered number: 07473834) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 97,522 | 97,522 |
Fixed asset investments were valued on an open market basis on 31 March 2024 by IBKR . |
6. | DEBTORS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year: |
Withholding tax to receive | 3 | 3 |
S455 tax charge | 35,750 | 35,750 |
VAT |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Tax |
Social security and other taxes | ( |
) | ( |
) |
Directors' current accounts | 10,000 | 1,755 |
Directors' loan accounts | - | 893 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Orasys Limited (Registered number: 07473834) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | LOANS - continued |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | 1 | 1,000 | 1,000 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | ( |
) | 110,816 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Fair value reserve | 4,416 | 10,168 | 14,584 |
At 31 March 2024 | ( |
) | 162,024 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
31.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
Orasys Limited (Registered number: 07473834) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
13. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company is owed £67,656 (2022: £67,656) by its related company Wmsys Ltd. Director, Mr Jigar Patel, is also a director and shareholder of its related company Wmsys Ltd. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs S Sardeshpande. |