Registered number
13488456
Orchid Ventures Limited
Filleted Accounts
31 July 2024
Orchid Ventures Limited
Registered number: 13488456
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 270,000 260,305
Current assets
Debtors 4 159 133
Cash at bank and in hand 12,212 6,051
12,371 6,184
Creditors: amounts falling due within one year 5 (257,992) (257,814)
Net current liabilities (245,621) (251,630)
Net assets 21,955 8,675
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,855 8,575
Shareholders' funds 21,955 8,675
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
….............................................
Emma Best
Director
Approved by the board on 1 August 2024
Orchid Ventures Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these Accounts are rounded to the nearest £.
Turnover
Turnover comprises rent receivable from an investment property.
Investment property
Investment property comprise property held to earn rental income or for capital appreciation, or both. Investment property is initially measured at cost, including related transaction costs. After initial recognition, investment property is carried at its fair value based on the market value as determined at each accounting reference date. The difference between the fair value of an investment property at the reporting date and its carrying amount prior to re-measurement is included in the Profit and Loss Account as a valuation surplus or deficit. Investment property is not depreciated. Profit on disposal is determined as the difference between the sales proceeds and the carrying amount of the asset at the commencement of the accounting period plus capital expenditure in the period.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment
property
£
Cost
At 1 August 2023 260,305
Surplus on revaluation 9,695
At 31 July 2024 270,000
Depreciation
At 31 July 2024 -
Net book value
At 31 July 2024 270,000
At 31 July 2023 260,305
The historical cost of investment properties is £260,305 (2023: £260,305). The directors revalued the property on 29 July 2024 following a market appraisal by the residential letting agent of the open market value based on its condition, location and the prevailing market.
4 Debtors 2024 2023
£ £
Other debtors 159 133
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to enity under common control 149,065 149,065
Taxation and social security costs 2,003 1,565
Other creditors 106,924 107,184
257,992 257,814
6 Other information
Orchid Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is:
65 The Base
Victoria Road
Dartford
Da1 5FS
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