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REGISTERED NUMBER: SC167094 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

ORB International KMS Limited

ORB International KMS Limited (Registered number: SC167094)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ORB International KMS Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Michael John Smith
Karen M McBride





SECRETARY: Karen M McBride





REGISTERED OFFICE: The Orion Building
1 Broomloan Place
Ibrox Business Park
Glasgow
G51 2JR





REGISTERED NUMBER: SC167094 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

ORB International KMS Limited (Registered number: SC167094)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 73,310 85,323
73,310 85,323

CURRENT ASSETS
Stock 240,655 350,327
Debtors 6 1,974,594 5,453,025
Cash at bank and in hand 1,509,538 1,290,546
3,724,787 7,093,898
CREDITORS
Amounts falling due within one year 7 763,502 4,072,673
NET CURRENT ASSETS 2,961,285 3,021,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,034,595

3,106,548

PROVISIONS FOR LIABILITIES 9 16,100 18,035
NET ASSETS 3,018,495 3,088,513

CAPITAL AND RESERVES
Called up share capital 10 8,200 8,200
Retained earnings 3,010,295 3,080,313
SHAREHOLDERS' FUNDS 3,018,495 3,088,513

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

ORB International KMS Limited (Registered number: SC167094)

Balance Sheet - continued
30 June 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2024 and were signed on its behalf by:





Michael John Smith - Director


ORB International KMS Limited (Registered number: SC167094)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

ORB International KMS Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
The purchase cost of the database was written off over two years. Domain names and intellectual property purchased in the year to 30 June 2020 is being amortised over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fittings and equipment - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

ORB International KMS Limited (Registered number: SC167094)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Fixed asset investments represent investments recognised on the stock exchange at their original cost to the company.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

ORB International KMS Limited (Registered number: SC167094)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Database
and
domain
names
£   
COST
At 1 July 2023
and 30 June 2024 252,500
AMORTISATION
At 1 July 2023
and 30 June 2024 252,500
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fittings
Leasehold and Motor Computer
improvements equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 49,848 127,710 43,485 40,971 262,014
Additions - 2,604 29,826 4,831 37,261
At 30 June 2024 49,848 130,314 73,311 45,802 299,275
DEPRECIATION
At 1 July 2023 21,379 79,179 36,763 39,370 176,691
Charge for year 4,985 29,622 13,354 1,313 49,274
At 30 June 2024 26,364 108,801 50,117 40,683 225,965
NET BOOK VALUE
At 30 June 2024 23,484 21,513 23,194 5,119 73,310
At 30 June 2023 28,469 48,531 6,722 1,601 85,323

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 751,553 4,475,687
Other debtors 1,223,041 977,338
1,974,594 5,453,025

ORB International KMS Limited (Registered number: SC167094)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,033 -
Trade creditors 393,343 2,251,406
Taxation and social security 132,438 590,492
Other creditors 221,688 1,230,775
763,502 4,072,673

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 16,033 -

The company's bank account is secured by a bond and floating charge over all of the company's assets and a joint personal guarantee by the directors for all sums due.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 16,100 18,035

Deferred
tax
£   
Balance at 1 July 2023 18,035
Provided during year (1,935 )
Balance at 30 June 2024 16,100

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8,200 Ordinary £1 8,200 8,200

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of KMS (Gifts) Limited, a company incorporated in Scotland and is 75% controlled by the director, Mr Michael Smith who is therefore considered to be the ultimate controlling party.