Company Registration No. 12856149 (England and Wales)
Ortumex Systems Ltd
Unaudited accounts
for the year ended 31 December 2024
Ortumex Systems Ltd
Unaudited accounts
Contents
Ortumex Systems Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
106,877
169,564
Inventories
332,787
248,965
Cash at bank and in hand
40,143
39,242
Creditors: amounts falling due within one year
(328,934)
(419,572)
Net current assets
274,321
121,670
Total assets less current liabilities
381,198
291,234
Creditors: amounts falling due after more than one year
(18,251)
(39,754)
Provisions for liabilities
Deferred tax
(26,719)
(32,217)
Net assets
336,228
219,263
Called up share capital
100
100
Profit and loss account
336,128
219,163
Shareholders' funds
336,228
219,263
For the year ending 31 December 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by
Mr S Wain
Director
Company Registration No. 12856149
Ortumex Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
Ortumex Systems Ltd is a private company, limited by shares, registered in England and Wales, registration number 12856149. The registered office is 2, 4 & 6 Kelvin Place, Stephenson Way, Thetford, IP24 3RR.
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:
Plant & machinery
25% Straight line
Fixtures & fittings
25% Straight line
Computer equipment
25% Straight line
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.
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.
Ortumex Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
296,720
27,230
39,850
363,800
Additions
8,996
3,457
138
12,591
At 31 December 2024
305,716
30,687
39,988
376,391
At 1 January 2024
156,940
15,093
22,203
194,236
Charge for the year
61,143
6,137
7,998
75,278
At 31 December 2024
218,083
21,230
30,201
269,514
At 31 December 2024
87,633
9,457
9,787
106,877
At 31 December 2023
139,780
12,137
17,647
169,564
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
35,504
89,840
Amounts falling due within one year
Trade debtors
207,157
217,874
Other debtors
23,168
35,161
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
21,503
30,702
Trade creditors
84,026
64,037
Taxes and social security
77,404
44,667
Loans from directors
101,148
210,836
Ortumex Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
18,251
39,754
8
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
18,251
39,754
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Average number of employees
During the year the average number of employees was 13 (2023: 13).