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REGISTERED NUMBER: 04990082 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

NEWORBIT LTD.

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 9


NEWORBIT LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr F Lytzen
Mr S Worthington
Mr M Baldwin





REGISTERED OFFICE: Hampden House
Monument Business Park
Chalgrove
Oxfordshire
OX44 7RW





REGISTERED NUMBER: 04990082 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NEWORBIT LTD.


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NewOrbit Ltd. for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of NewOrbit Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NewOrbit Ltd. and state those matters that we have agreed to state to the Board of Directors of NewOrbit Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NewOrbit Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NewOrbit Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NewOrbit Ltd.. You consider that NewOrbit Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NewOrbit Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE


21 March 2025

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,916 10,515
Investments 5 995 995
11,911 11,510

CURRENT ASSETS
Debtors 6 1,028,252 974,446
Cash at bank 702,852 1,596,497
1,731,104 2,570,943
CREDITORS
Amounts falling due within one year 7 986,435 812,118
NET CURRENT ASSETS 744,669 1,758,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

756,580

1,770,335

PROVISIONS FOR LIABILITIES 2,729 2,446
NET ASSETS 753,851 1,767,889

CAPITAL AND RESERVES
Called up share capital 8 10,880 10,880
Share premium 9 246,792 246,792
Capital redemption reserve 9 2,133 2,133
Retained earnings 9 494,046 1,508,084
SHAREHOLDERS' FUNDS 753,851 1,767,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





Mr F Lytzen - Director


NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

NewOrbit Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is Hampden House, Monument Business Park, Chalgrove, Oxfordshire, OX44 7RW. The registered number is 04990082.

The principal activity of the company is that of business and domestic software development.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

The significant 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about NewOrbit Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimate useful life:

Plant and machinery - straight line - 33.33%
Fixtures and fittings - straight line - 33.33%
Computer equipment - straight line - 33.33%

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company has applied the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instrument Issues" of FRS 102 (effective September 2015) to its financial statements.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Transactions denominated in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities at the period end denominated in a foreign currency are translated into Sterling at the rate of exchange ruling at the statement of financial position date. Exchange differences are taken into account when arriving at the operating profit.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company contributes to defined contribution pension scheme arrangements on behalf of its directors and employees. Contributions payable are charged to the profit and loss account in the period to which they relate.

Investments
Investments are initially recognised at fair value which is usually the transaction price (excluding any transaction costs). Subsequently, the investments are measured at fair value through profit or loss except for those shares which cannot be publicly traded or where fair value cannot be reliably measured.

If reliable measurement of fair value cannot be obtained or this measure is no longer available, the investment's cost is deemed to be the fair value at the last point to which a reliable measurement was obtained. These instruments are recognised at cost less impairment until a reliable measure of fair value becomes available.

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 4,733 65,122 69,855
Additions - 10,424 10,424
Disposals - (25,412 ) (25,412 )
At 31 December 2024 4,733 50,134 54,867
DEPRECIATION
At 1 January 2024 4,733 54,607 59,340
Charge for year - 10,023 10,023
Eliminated on disposal - (25,412 ) (25,412 )
At 31 December 2024 4,733 39,218 43,951
NET BOOK VALUE
At 31 December 2024 - 10,916 10,916
At 31 December 2023 - 10,515 10,515

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. FIXED ASSET INVESTMENTS



Shares in
group
undertakings

Unlisted
investments


Totals
£ £ £

COST
At 1 January 2024
and 31 December 2024 995 12 1,007

IMPAIRMENT
At 1 January 2024 - 12 12
Charge for the year - - -
At 31 December 2024 - 12 12

NET BOOK VALUE
At 31 December 2024 995 - 995

At 31 December 2023 995 - 995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 988,113 938,848
Other debtors 2,421 137
Prepayments and accrued income 37,718 35,461
1,028,252 974,446

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 182,627 146,901
Taxation and social security 530,743 424,759
Other creditors 273,065 240,458
986,435 812,118

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary 0.01p £0.01 10,000 10,000
88,000 Ordinary B £0.01 880 880
10,880 10,880

NEWORBIT LTD. (REGISTERED NUMBER: 04990082)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. RESERVES




Retained
earnings

Share
premium
Capital
redemption
reserve


Totals
££££
At 1 January 20241,508,084246,7922,1331,757,009
Profit for the year 794,431--794,431
Dividends(1.700,000)--(1,700,000)
At 31 December 2024602,515246,7922,133851,440

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies not included in the statement of financial position amount to £26,921 (2023 - £25,886), which relates to operating lease commitments due within 1 year.