Company Registration No. 08260830 (England and Wales)
ORCHARD PREP LIMITED
Unaudited accounts for filing with the registrar
for the year ended 31 March 2024
ORCHARD PREP LIMITED
Unaudited accounts for filing with the registrar
Contents
ORCHARD PREP LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
1,321,152
1,329,499
Cash at bank and in hand
36,334
13,730
Creditors: amounts falling due within one year
(118,075)
(69,749)
Net current assets
41,143
21,981
Total assets less current liabilities
1,362,295
1,351,480
Creditors: amounts falling due after more than one year
(974,554)
(1,064,768)
Provisions for liabilities
Other provisions
(52,785)
(47,508)
Net assets
321,785
239,204
Called up share capital
1,000
1,000
Profit and loss account
320,785
238,204
Shareholders' funds
321,785
239,204
For the year ending 31 March 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
David Burton
Director
Company Registration No. 08260830
ORCHARD PREP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
ORCHARD PREP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08260830. The registered office is ORCHARD SCHOOL, HIGHAM ROAD, BARTON-LE-CLAY, BEDS, MK45 4RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
4% Reducing Balance
Motor vehicles
18% Reducing Balance
Fixtures & fittings
18% / 4% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Local government grants are credited to the profit and loss account in the period of account in which they relate.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
ORCHARD PREP LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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Tangible fixed assets
Total
At 31 March 2024
1,521,837
Charge for the year
15,522
At 31 March 2024
1,321,152
At 31 March 2023
1,329,499
As of 31 March 2024, the company is subject to a legal investigation from an employment tribunal. The legal advisers have advised the company that at the reporting date, they are uncertain as to the potential outcome of the case, but the potential liability could be approximately £15,000. The company is disputing this amount.
6
Transactions with related parties
As at 31 March 2024 loans owed to the directors totalled £441,418 (2023: £489,053). This loan is interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 34 (2023: 31).