11 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 7503937 2023-04-01 2024-03-31 7503937 2024-03-31 7503937 2023-03-31 7503937 2022-04-01 2023-03-31 7503937 2023-03-31 7503937 2022-03-31 7503937 core:PlantMachinery 2023-04-01 2024-03-31 7503937 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 7503937 core:MotorVehicles 2023-04-01 2024-03-31 7503937 bus:Director1 2023-04-01 2024-03-31 7503937 core:PlantMachinery 2023-03-31 7503937 core:FurnitureFittingsToolsEquipment 2023-03-31 7503937 core:MotorVehicles 2023-03-31 7503937 core:PlantMachinery 2024-03-31 7503937 core:FurnitureFittingsToolsEquipment 2024-03-31 7503937 core:MotorVehicles 2024-03-31 7503937 core:WithinOneYear 2024-03-31 7503937 core:WithinOneYear 2023-03-31 7503937 core:AfterOneYear 2024-03-31 7503937 core:AfterOneYear 2023-03-31 7503937 core:ShareCapital 2024-03-31 7503937 core:ShareCapital 2023-03-31 7503937 core:RetainedEarningsAccumulatedLosses 2024-03-31 7503937 core:RetainedEarningsAccumulatedLosses 2023-03-31 7503937 core:PlantMachinery 2023-03-31 7503937 core:FurnitureFittingsToolsEquipment 2023-03-31 7503937 core:MotorVehicles 2023-03-31 7503937 bus:Director1 2023-03-31 7503937 bus:Director1 2024-03-31 7503937 bus:Director1 2022-03-31 7503937 bus:Director1 2023-03-31 7503937 bus:Director1 2022-04-01 2023-03-31 7503937 bus:SmallEntities 2023-04-01 2024-03-31 7503937 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 7503937 bus:FullAccounts 2023-04-01 2024-03-31 7503937 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 7503937 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Company registration number: 7503937
Orchard Clothing Limited
Unaudited filleted financial statements
31 March 2024
Orchard Clothing Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 26,784 26,581
_______ _______
26,784 26,581
Current assets
Stocks 117,217 148,791
Debtors 6 142,380 57,510
Cash at bank and in hand 3,191 57,323
_______ _______
262,788 263,624
Creditors: amounts falling due
within one year 7 ( 145,367) ( 115,118)
_______ _______
Net current assets 117,421 148,506
_______ _______
Total assets less current liabilities 144,205 175,087
Creditors: amounts falling due
after more than one year 8 ( 101,781) ( 110,664)
Provisions for liabilities - ( 5,050)
_______ _______
Net assets 42,424 59,373
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 42,324 59,273
_______ _______
Shareholder funds 42,424 59,373
_______ _______
For the year ending 31 March 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 March 2025 , and are signed on behalf of the board by:
F F Richardson
Director
Company registration number: 7503937
Orchard Clothing Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Dunlop Road, Hunt End, Redditch, Worcestershire, B97 5XP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 20 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recogniton of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 11 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 13,254 66,175 12,891 92,320
Additions 2,622 8,038 - 10,660
_______ _______ _______ _______
At 31 March 2024 15,876 74,213 12,891 102,980
_______ _______ _______ _______
Depreciation
At 1 April 2023 10,406 50,178 5,157 65,741
Charge for the year 1,563 6,314 2,578 10,455
_______ _______ _______ _______
At 31 March 2024 11,969 56,492 7,735 76,196
_______ _______ _______ _______
Carrying amount
At 31 March 2024 3,907 17,721 5,156 26,784
_______ _______ _______ _______
At 31 March 2023 2,848 15,997 7,734 26,579
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 49,662 26,951
Other debtors 92,718 30,559
_______ _______
142,380 57,510
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 67,722 50,217
Trade creditors 53,283 34,937
Social security and other taxes 12,359 15,199
Other creditors 12,003 14,765
_______ _______
145,367 115,118
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 98,819 110,664
Other creditors 2,962 -
_______ _______
101,781 110,664
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company. The advances are interest free and repayable on demand:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
DLA ( 3,853) 56,019 52,166
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
DLA ( 13,244) 9,391 ( 3,853)
_______ _______ _______
10. Trade debtors
Trade debtors are measured at transaction value, less any impairment for doubtful debts.
11. Trade creditors
Trade creditors are measured at transaction value.