Registered number
02047159
ORCHARD HOUSE (MIDLANDS) LIMITED
Filleted Accounts
31 October 2024
ORCHARD HOUSE (MIDLANDS) LIMITED
Registered number: 02047159
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 750,281 762,431
Current assets
Debtors 4 507,238 10,462
Cash at bank and in hand 97,643 404,399
604,881 414,861
Creditors: amounts falling due within one year 5 (689,556) (689,945)
Net current liabilities (84,675) (275,084)
Net assets 665,606 487,347
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 357,657 357,657
Profit and loss account 307,849 129,590
Shareholders' funds 665,606 487,347
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H Shanmugarajah
Director
Approved by the board on 12 December 2024
ORCHARD HOUSE (MIDLANDS) LIMITED
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 100 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 15% on reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 53 52
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 900,000 319,749 1,219,749
Additions - 605 605
At 31 October 2024 900,000 320,354 1,220,354
Depreciation
At 1 November 2023 162,000 295,318 457,318
Charge for the year 9,000 3,755 12,755
At 31 October 2024 171,000 299,073 470,073
Net book value
At 31 October 2024 729,000 21,281 750,281
At 31 October 2023 738,000 24,431 762,431
4 Debtors 2024 2023
£ £
Trade debtors 12,238 10,462
Other debtors 495,000 -
507,238 10,462
5 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 537,292 537,292
Taxation and social security costs 87,698 47,108
Other creditors 64,566 105,545
689,556 689,945
6 Revaluation reserve 2024 2023
£ £
At 1 November 2023 357,657 357,657
At 31 October 2024 357,657 357,657
7 Other information
ORCHARD HOUSE (MIDLANDS) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
6 Norfolk Road
Harrow
Middlesex
HA1 4NL
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