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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
Page
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ORION IMMERSIVE LTD Company Information for the year ended 31 August 2023
Director
S Dann
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
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ORION IMMERSIVE LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
280 
9,386 
Current assets
Debtors
9,731 
7,361 
Cash at bank and in hand
273 
56 
10,004 
7,417 
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
Deferred tax
(53)
(180)
Net (liabilities)/assets
(637)
7,247 
Capital and reserves
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
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ORION IMMERSIVE LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
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.
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ORION IMMERSIVE LTD Notes to the Accounts for the year ended 31 August 2023
Pension costs
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 
Depreciation
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 
Net book value
At 31 August 2023
- 
280 
280 
At 31 August 2022
6,731 
2,655 
9,386 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
321 
299 
Amounts due from group undertakings etc.
9,410 
6,750 
Accrued income and prepayments
- 
143 
Other debtors
- 
169 
9,731 
7,361 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
1,454 
1,291 
Taxes and social security
8,085 
8,085 
Loans from directors
69 
- 
Accruals
1,260 
- 
10,868 
9,376 
7
Controlling party
Medical Realities Ltd, 71-75, Shelton Street, London, England, WC2H 9JQ
8
Average number of employees
During the year the average number of employees was 0 (2022: 2).
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