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COMPANY REGISTRATION NUMBER: 09614131
Orchard House Property Developments Ltd
Filleted Unaudited Financial Statements
31 October 2023
Orchard House Property Developments Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Orchard House Property Developments Ltd
Officers and Professional Advisers
Director
Mr P Lomax
Registered office
The Wyvern
Church Street
Malpas
Cheshire
SY14 8NU
Accountants
AGP
Chartered Accountants
First Floor
2 City Road
Chester
Cheshire
CH1 3AE
Orchard House Property Developments Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
19,351
19,854
Current assets
Debtors
6
45,748
193,927
Cash at bank and in hand
3,687
2,403
--------
---------
49,435
196,330
Creditors: amounts falling due within one year
7
410,120
386,900
---------
---------
Net current liabilities
360,685
190,570
---------
---------
Total assets less current liabilities
( 341,334)
( 170,716)
Creditors: amounts falling due after more than one year
8
39,863
40,363
---------
---------
Net liabilities
( 381,197)
( 211,079)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 381,297)
( 211,179)
---------
---------
Shareholders deficit
( 381,197)
( 211,079)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Orchard House Property Developments Ltd
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
Mr P Lomax
Director
Company registration number: 09614131
Orchard House Property Developments Ltd
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Wyvern, Church Street, Malpas, Cheshire, SY14 8NU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The company is insolvent however all financing is being met and the directors are committed to supporting the business therefore the financial statements have been prepared on the going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Turnover in respect of the sale of developments is recognised on legal completion.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair financial value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
18,000
2,452
150
5,815
26,417
--------
-------
----
-------
--------
Depreciation
At 1 November 2022
826
89
5,648
6,563
Charge for the year
324
12
167
503
--------
-------
----
-------
--------
At 31 October 2023
1,150
101
5,815
7,066
--------
-------
----
-------
--------
Carrying amount
At 31 October 2023
18,000
1,302
49
19,351
--------
-------
----
-------
--------
At 31 October 2022
18,000
1,626
61
167
19,854
--------
-------
----
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
( 76,436)
750
Other debtors
122,184
193,177
---------
---------
45,748
193,927
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
57,165
36,528
Trade creditors
49,548
24,152
Corporation tax
1,492
Social security and other taxes
45,973
48,147
Wages Control Account
7,466
968
Pension Control Account
146
73
Other creditors
248,330
277,032
---------
---------
410,120
386,900
---------
---------
Capitalstackers Trustees Ltd hold a charge dated 26/04/2021 over the fixed and floating assets of the company. Capitalstackers Trustees Ltd hold a charge dated 18/01/2022 over the fixed and floaoting assets of the company. Capitalstackers Trustees Ltd hold a charge dated 05/08/2022 over the fixed and floating assets of the company. Capitalstackers Trustees Ltd hold a charge dated 13/12/2022 over the fixed and floating assets of the company.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
39,863
40,363
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr HG Gregson
Mr P Lomax
( 165,669)
43,347
( 17,571)
( 139,893)
---------
--------
--------
---------
( 165,669)
43,347
( 17,571)
( 139,893)
---------
--------
--------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr HG Gregson
( 391)
391
Mr P Lomax
( 113,382)
205,621
( 257,908)
( 165,669)
---------
---------
---------
---------
( 113,773)
206,012
( 257,908)
( 165,669)
---------
---------
---------
---------
10. Related party transactions
The company was under the control of the directors throughout the current year. No transactions with related parties were undertaken such as are required to be disclosed.
11. Controlling party
The ultimate parent company is Orchard House Properties Ltd company number 09558638 which is a company registered in England and Wales and owns 100% of the issued share capital. The company registered office is The Wyvern, Church Street, Malpas, Cheshire, SY14 8NU.