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Registered Number: 13878960
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 January 2024

for

ORION PROPERTIES (MIDLANDS) LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Investments 3 2,240,000    1,660,000 
2,240,000    1,660,000 
Current assets      
Debtors 96    100 
Cash at bank and in hand 3,832    67,153 
3,928    67,253 
Creditors: amount falling due within one year (1,328,391)   (1,058,090)
Net current assets (1,324,463)   (990,837)
 
Total assets less current liabilities 915,537    669,163 
Provisions for liabilities (45,209)  
Net assets 870,328    669,163 
 

Capital and reserves
     
Called up share capital 4 300    300 
Share premium account 640,900    640,900 
Reserves 192,733   
Profit and loss account 36,395    27,963 
Shareholders' funds 870,328    669,163 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The directors of the company have elected not to include the Income Statement within the financial statements.
The financial statements were approved by the board of directors on 30 January 2025 and were signed on its behalf by:


-------------------------------
A Parmar
Director
1
General Information
Orion Properties (Midlands) Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 31 Constance Avenue, West Bromwich, West Midlands, B70 6ED. The nature of the company's operations and its principal activity was that of property investment.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 31 January each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Investments

Cost Investments in group undertakings   Other investments other than loans   Total
  £   £   £
At 01 February 2023   1,660,000    1,660,000 
Additions 180,000    162,059    342,059 
Transfer to/from tangible fixed assets    
Disposals    
Revaluations   237,941    237,941 
At 31 January 2024 180,000    2,060,000    2,240,000 

4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
10,000 Ordinary shares of £0.01 each 100    100 
10,000 Class A shares of £0.01 each 100    100 
10,000 Class B shares of £0.01 each 100    100 
300    300 

2