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COMPANY REGISTRATION NUMBER: 06354645
Orchard Priory Limited
Filleted Unaudited Financial Statements
30 September 2024
Orchard Priory Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Orchard Priory Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
130,520
116,568
Current assets
Debtors
6
29,643
71,659
Cash at bank and in hand
2,953
1,832
--------
--------
32,596
73,491
Creditors: amounts falling due within one year
7
46,280
68,607
--------
--------
Net current (liabilities)/assets
( 13,684)
4,884
---------
---------
Total assets less current liabilities
116,836
121,452
Creditors: amounts falling due after more than one year
8
82,932
95,568
Provisions
Taxation including deferred tax
14,895
22,148
---------
---------
Net assets
19,009
3,736
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
18,909
3,636
--------
-------
Shareholders funds
19,009
3,736
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Orchard Priory Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 2 April 2025 , and are signed on behalf of the board by:
Mr R Gandon
Director
Company registration number: 06354645
Orchard Priory Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Great Cauldham Farm Cauldham Lane, Capel-Le-Ferne, Folkstone, Kent, CT18 7HQ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
20% reducing balance
Office equipment
-
20% straight line
It is policy that no depreciation is provided for in the year of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 October 2023
53,683
92,415
4,269
150,367
Additions
17,000
9,200
1,258
27,458
Disposals
( 343)
( 343)
--------
---------
-------
---------
At 30 September 2024
70,683
101,615
5,184
177,482
--------
---------
-------
---------
Depreciation
At 1 October 2023
18,617
13,318
1,864
33,799
Charge for the year
7,737
4,448
995
13,180
Disposals
( 17)
( 17)
--------
---------
-------
---------
At 30 September 2024
26,354
17,766
2,842
46,962
--------
---------
-------
---------
Carrying amount
At 30 September 2024
44,329
83,849
2,342
130,520
--------
---------
-------
---------
At 30 September 2023
35,066
79,097
2,405
116,568
--------
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
726
309
Other debtors
28,917
71,350
--------
--------
29,643
71,659
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,882
5,882
Trade creditors
6,496
20,528
Corporation tax
2,590
8,036
Social security and other taxes
6,815
9,819
Other creditors
24,497
24,342
--------
--------
46,280
68,607
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,431
34,315
Other creditors
54,501
61,253
--------
--------
82,932
95,568
--------
--------
9. Director's advances, credits and guarantees
At the year end, the Director owed the company £482 (2023: The company owed the Director £52). During the year, advances of £1,226 (2023: £nil) were made to the Director and repayments of £692 (2023: £nil) were made by the Director.