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Registered number: 03074030









ORCHID HOUSE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ORCHID HOUSE PROPERTIES LIMITED
REGISTERED NUMBER: 03074030

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
62
81

Investment property
 5 
2,097,000
2,070,000

  
2,097,062
2,070,081

Current assets
  

Debtors: amounts falling due within one year
 6 
1,214
784

Cash at bank and in hand
 7 
276,632
714,494

  
277,846
715,278

Creditors: amounts falling due within one year
 8 
(356,140)
(801,074)

Net current liabilities
  
 
 
(78,294)
 
 
(85,796)

Total assets less current liabilities
  
2,018,768
1,984,285

Provisions for liabilities
  

Deferred tax
 9 
(316,368)
(309,618)

  
 
 
(316,368)
 
 
(309,618)

Net assets
  
1,702,400
1,674,667


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Other reserves
  
1,471,838
1,444,838

Profit and loss account
  
205,562
204,829

  
1,702,400
1,674,667


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
ORCHID HOUSE PROPERTIES LIMITED
REGISTERED NUMBER: 03074030
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R J Cooper
Director

Date: 21 March 2025

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Orchid House Properties Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is First Floor, Radius House, 51 Clarendon Road, Watford, Hertfordshire, WD17 1HP.
The company's principal activity is that of a rental property firm.
The siginificant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rents received during the year, exclusive of Value Added Tax and trade discounts. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 October 2023
22,256


Disposals
(15,999)



At 30 September 2024

6,257



Depreciation


At 1 October 2023
22,174


Charge for the year on owned assets
20


Disposals
(15,999)



At 30 September 2024

6,195



Net book value



At 30 September 2024
62



At 30 September 2023
81


5.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
2,070,000


Surplus on revaluation
27,000



At 30 September 2024
2,097,000

The 2024 valuations were made by directors, on an open market value for existing use basis.







Page 6

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Other debtors
170
169

Prepayments and accrued income
1,044
615

1,214
784



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
276,632
714,494

276,632
714,494



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
15,556
13,373

Other creditors
335,694
782,830

Accruals and deferred income
4,890
4,871

356,140
801,074



9.


Deferred taxation




2024


£






At beginning of year
(309,618)


Utilised in year
(6,750)



At end of year
(316,368)

Page 7

 
ORCHID HOUSE PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Potentail gain on disposal of indexed properties
(316,368)
(309,618)

(316,368)
(309,618)

 
Page 8