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ORTHARIZE LIMITED

Registered Number
11962789
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

ORTHARIZE LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

FLYNN, Chris Michael
MADDISON, Elizabeth Clare
MADDISON, Jonathan

Registered Address

Princess House
Princess Way
Swansea
SA1 3LW

Registered Number

11962789 (England and Wales)
ORTHARIZE LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets397998
97998
Current assets
Debtors37,68040,449
Cash at bank and on hand285,44883,574
323,128124,023
Creditors amounts falling due within one year4(208,806)(162,626)
Net current assets (liabilities)114,322(38,603)
Total assets less current liabilities114,419(37,605)
Creditors amounts falling due after one year5(114,177)-
Net assets242(37,605)
Capital and reserves
Called up share capital1513
Share premium795,688435,357
Profit and loss account(795,461)(472,975)
Shareholders' funds242(37,605)
The financial statements were approved and authorised for issue by the Board of Directors on 30 January 2025, and are signed on its behalf by:
MADDISON, Jonathan
Director
Registered Company No. 11962789
ORTHARIZE LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The directors have considered the current trading performance, internal cashflow forecasts, and the good levels of customer growth The directors consider that the Company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue from rendering of services
Revenue from the rendering of services is recognised when the Company's service is complete, i.e. a booking has been made. The date of travel may be different. Revenue from access to the Company's software platform is recognised in the same period as access is granted.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year86
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 234,8044,804
Disposals(1,324)(1,324)
At 30 April 243,4803,480
Depreciation and impairment
At 01 May 233,8063,806
Charge for year1,3371,337
On disposals(1,760)(1,760)
At 30 April 243,3833,383
Net book value
At 30 April 249797
At 30 April 23998998
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables82,6602,873
Bank borrowings and overdrafts-252
Taxation and social security22,96856,636
Other creditors13,47129,411
Accrued liabilities and deferred income89,70773,454
Total208,806162,626
5.Creditors: amounts due after one year

2024

2023

££
Convertible loans114,177-
Total114,177-