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Registration number: 10873272

Orchard Investment Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Orchard Investment Management Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Orchard Investment Management Limited

Company Information

Director

Mr Howard Lord

Registered office

Hilton House
26-28 Hilton Street
Manchester
M1 2EH

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Orchard Investment Management Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Orchard Investment Management Limited for the year ended 30 June 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Orchard Investment Management Limited, as a body, in accordance with the terms of our engagement letter dated 20 October 2022. Our work has been undertaken solely to prepare for your approval the accounts of Orchard Investment Management Limited and state those matters that we have agreed to state to the Board of Directors of Orchard Investment Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orchard Investment Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Orchard Investment Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Orchard Investment Management Limited. You consider that Orchard Investment Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Orchard Investment Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

9 January 2025

 

Orchard Investment Management Limited

(Registration number: 10873272)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

192,263

241,214

Current assets

 

Debtors

5

630,053

641,549

Cash at bank and in hand

 

26,728

24,057

 

656,781

665,606

Creditors: Amounts falling due within one year

6

(2,625,715)

(3,368,177)

Net current liabilities

 

(1,968,934)

(2,702,571)

Total assets less current liabilities

 

(1,776,671)

(2,461,357)

Creditors: Amounts falling due after more than one year

6

(10,003)

(20,003)

Net liabilities

 

(1,786,674)

(2,481,360)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(1,786,676)

(2,481,362)

Shareholders' deficit

 

(1,786,674)

(2,481,360)

For the financial year ending 30 June 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the director on 9 January 2025
 

.........................................
Mr Howard Lord
Director

 

Orchard Investment Management Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hilton House
26-28 Hilton Street
Manchester
M1 2EH
United Kingdom

These financial statements were authorised for issue by the director on 9 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Orchard Investment Management Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% Reducing balance

Leasehold property improvements

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.



 

 

Orchard Investment Management Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Leasehold property improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

440,528

68,374

508,902

At 30 June 2024

440,528

68,374

508,902

Depreciation

At 1 July 2023

218,907

48,781

267,688

Charge for the year

44,053

4,898

48,951

At 30 June 2024

262,960

53,679

316,639

Carrying amount

At 30 June 2024

177,568

14,695

192,263

At 30 June 2023

221,621

19,593

241,214

 

Orchard Investment Management Limited

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

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

704

12,390

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

618,807

616,325

Prepayments and accrued income

 

2,784

9,828

Other debtors

 

7,758

3,006

 

630,053

641,549

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

8,605

29,701

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

533,157

1,236,248

Taxation and social security

 

-

1,028

Accruals and deferred income

 

3,224

12,941

Other creditors

 

2,070,729

2,078,259

 

2,625,715

3,368,177

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10,003

20,003

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Orchard Investment Management Limited

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

8

Related party transactions

The company's parent undertaking is Mamucium Assets Ltd, a company incorporated in England and Wales.

The company has taken advantage of the exemption under FRS 102 (Section 1A) from disclosing transactions with wholly owned undertakings of the group headed by Mamucium Assets Ltd.