Company Registration No. 12825348 (England and Wales)
ORION IMMERSIVE LTD
Unaudited accounts
for the year ended 31 August 2023
ORION IMMERSIVE LTD
Unaudited accounts
Contents
ORION IMMERSIVE LTD
Company Information
for the year ended 31 August 2023
Company Number
12825348 (England and Wales)
Registered Office
71-75 Shelton Street
London
London
WC2H 9JQ
England
Accountants
Weir Associates Ltd
Allia Futures Business Centre
Kings Hedges Road
Cambridge
CB4 2HY
ORION IMMERSIVE LTD
Statement of financial position
as at 31 August 2023
Cash at bank and in hand
273
56
Creditors: amounts falling due within one year
(10,868)
(9,376)
Net current liabilities
(864)
(1,959)
Total assets less current liabilities
(584)
7,427
Provisions for liabilities
Net (liabilities)/assets
(637)
7,247
Called up share capital
2
2
Profit and loss account
(639)
7,245
Shareholders' funds
(637)
7,247
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 March 2025 and were signed on its behalf by
S Dann
Director
Company Registration No. 12825348
ORION IMMERSIVE LTD
Notes to the Accounts
for the year ended 31 August 2023
ORION IMMERSIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 12825348. The registered office is 71-75 Shelton Street, London, London, WC2H 9JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Computer equipment
25% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
ORION IMMERSIVE LTD
Notes to the Accounts
for the year ended 31 August 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2022
8,975
4,314
13,289
Disposals
(8,975)
(3,651)
(12,626)
At 31 August 2023
-
663
663
At 1 September 2022
2,244
1,659
3,903
Charge for the year
701
331
1,032
On disposals
(2,945)
(1,607)
(4,552)
At 31 August 2023
-
383
383
At 31 August 2023
-
280
280
At 31 August 2022
6,731
2,655
9,386
Amounts falling due within one year
Amounts due from group undertakings etc.
9,410
6,750
Accrued income and prepayments
-
143
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,454
1,291
Taxes and social security
8,085
8,085
Medical Realities Ltd, 71-75, Shelton Street, London, England, WC2H 9JQ
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Average number of employees
During the year the average number of employees was 0 (2022: 2).