1 April 2023 v2024.67.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP139735532023-04-012024-03-31139735532024-03-31139735532023-03-3113973553core:WithinOneYear2024-03-3113973553core:WithinOneYear2023-03-3113973553core:ShareCapital2024-03-3113973553core:ShareCapital2023-03-3113973553core:RetainedEarningsAccumulatedLosses2024-03-3113973553core:RetainedEarningsAccumulatedLosses2023-03-3113973553bus:Director12023-04-012024-03-3113973553bus:Director22023-04-012024-03-3113973553bus:RegisteredOffice2023-04-012024-03-3113973553core:NetGoodwill2023-04-012024-03-3113973553core:Goodwill2023-04-012024-03-3113973553core:OfficeEquipment2023-04-012024-03-31139735532022-04-012023-03-3113973553core:NetGoodwill2024-03-3113973553core:NetGoodwill2023-04-0113973553core:NetGoodwill2023-03-3113973553core:PlantMachinery2023-04-0113973553core:PlantMachinery2023-04-012024-03-3113973553core:PlantMachinery2024-03-3113973553core:PlantMachinery2023-03-311397355312023-04-012024-03-3113973553countries:EnglandWales2023-04-012024-03-3113973553bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3113973553bus:PrivateLimitedCompanyLtd2023-04-012024-03-3113973553bus:SmallEntities2023-04-012024-03-3113973553bus:FullAccounts2023-04-012024-03-31
Company registration number:
13973553
OrangeStripe OutSourcing and Accountancy Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2024
OrangeStripe OutSourcing and Accountancy Ltd
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Intangible assets 5
30,000
 
40,000
 
Tangible assets 6
5,452
 
4,168
 
35,452
 
44,168
 
Current assets    
Debtors 7
14,627
 
9,671
 
Cash at bank and in hand
26,617
 
7,128
 
41,244
 
16,799
 
Creditors: amounts falling due within one year 8
(58,092
)
(52,693
)
Net current liabilities
(16,848
)
(35,894
)
Total assets less current liabilities 18,604   8,274  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
18,504
 
8,174
 
Shareholders funds
18,604
 
8,274
 
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
24 December 2024
, and are signed on behalf of the board by:
D Pursall
D May
DirectorDirector
Company registration number:
13973553
OrangeStripe OutSourcing and Accountancy Ltd
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
223 Watermoor Point
,
Cirencester
,
GL7 1LF
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
20% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% reducing balance

Impairment

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2023:
3.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2023
and
31 March 2024
50,000
 
Amortisation  
At
1 April 2023
10,000
 
Charge
10,000
 
At
31 March 2024
20,000
 
Carrying amount  
At
31 March 2024
30,000
 
At 31 March 2023
40,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2023
4,432
 
Additions
2,379
 
At
31 March 2024
6,811
 
Depreciation  
At
1 April 2023
264
 
Charge
1,095
 
At
31 March 2024
1,359
 
Carrying amount  
At
31 March 2024
5,452
 
At 31 March 2023
4,168
 

7 Debtors

20242023
££
Trade debtors
12,044
 
8,710
 
Other debtors
2,583
 
961
 
14,627
 
9,671
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
4,738
 
3,780
 
Taxation and social security
19,822
 
7,214
 
Other creditors
33,532
 
41,699
 
58,092
 
52,693