Registered number
10168827
ORBIT PROPERTIES LONDON LTD
Filleted Accounts
31 May 2024
ORBIT PROPERTIES LONDON LTD
Registered number: 10168827
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,406,540 6,823,195
Current assets
Debtors 4 502,021 -
Cash at bank and in hand 356,910 40,426
858,931 40,426
Creditors: amounts falling due within one year 5 (337,948) (309,023)
Net current assets/(liabilities) 520,983 (268,597)
Total assets less current liabilities 7,927,523 6,554,598
Creditors: amounts falling due after more than one year 6 (7,374,205) (6,000,529)
Net assets 553,318 554,069
Capital and reserves
Called up share capital 100 100
Profit and loss account 553,218 553,969
Shareholders' funds 553,318 554,069
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.
Dr Sarita Parhi
Director
Approved by the board on 18 February 2025
ORBIT PROPERTIES LONDON LTD
Notes to the Accounts
for the year ended 31 May 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 15% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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. 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 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 6,337,645 536,590 6,874,235
Additions 589,776 - 589,776
At 31 May 2024 6,927,421 536,590 7,464,011
Depreciation
At 1 June 2023 - 51,040 51,040
Charge for the year - 6,431 6,431
At 31 May 2024 - 57,471 57,471
Net book value
At 31 May 2024 6,927,421 479,119 7,406,540
At 31 May 2023 6,337,645 485,550 6,823,195
4 Debtors 2024 2023
£ £
Other debtors 502,021 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 176,980 247,279
Trade creditors 147,668 30
Taxation and social security costs 11,252 25,047
Other creditors 2,048 36,667
337,948 309,023
6 Creditors: amounts falling due after one year 2024 2023
£ £
Loan from connected company 4,505,452 3,550,642
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 2,868,753 2,449,887
Bank loan is secured by debenture on the assets of the company.
8 Related party transactions
As at 31-May-24, the directors current account was overdrawn by £473,106.29 which has been repaid since the year end.

As at 31-May-24, there was a loan amounting to £4,505,452 from London School of Management Education Limited which is a connected company by virtue of common directors and shareholders.
9 Other information
ORBIT PROPERTIES LONDON LTD is a private company limited by shares and incorporated in England. Its registered office is:
Cambrian House
509-511 Cranbrook Road
Gants Hill
Ilford
IG2 6EY
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