2 2 Orion Property Management Limited 11933676 false 2023-05-01 2024-07-31 2024-07-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true 11933676 2023-05-01 2024-07-31 11933676 2024-07-31 11933676 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-07-31 11933676 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 11933676 core:Non-currentFinancialInstruments 2024-07-31 11933676 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 11933676 core:MotorVehicles 2024-07-31 11933676 core:OfficeEquipment 2024-07-31 11933676 bus:SmallEntities 2023-05-01 2024-07-31 11933676 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-07-31 11933676 bus:FilletedAccounts 2023-05-01 2024-07-31 11933676 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-07-31 11933676 bus:RegisteredOffice 2023-05-01 2024-07-31 11933676 bus:Director1 2023-05-01 2024-07-31 11933676 bus:Director2 2023-05-01 2024-07-31 11933676 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-01 2024-07-31 11933676 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-07-31 11933676 bus:Agent1 2023-05-01 2024-07-31 11933676 core:MotorVehicles 2023-05-01 2024-07-31 11933676 core:OfficeEquipment 2023-05-01 2024-07-31 11933676 countries:EnglandWales 2023-05-01 2024-07-31 11933676 2023-04-30 11933676 core:MotorVehicles 2023-04-30 11933676 core:OfficeEquipment 2023-04-30 11933676 2022-05-01 2023-04-30 11933676 2023-04-30 11933676 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-30 11933676 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11933676 core:Non-currentFinancialInstruments 2023-04-30 11933676 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11933676 core:MotorVehicles 2023-04-30 11933676 core:OfficeEquipment 2023-04-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 11933676

Orion Property Management Limited

Unaudited Filleted Financial Statements

for the Period from 1 May 2023 to 31 July 2024

 

Orion Property Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Orion Property Management Limited

Company Information

Directors

K Murphy

R Jenkins

Registered office

128 City Road
London
EC1V 2NX

Accountants

K&S Professionals Limited
Chartered Certified Accountants41 Rivington Crescent
Mill Hill
London
NW7 2LF

 

Orion Property Management Limited

(Registration number: 11933676)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,068

14,094

Investment property

5

750,000

750,000

 

756,068

764,094

Current assets

 

Cash at bank and in hand

 

5,466

829

Creditors: Amounts falling due within one year

7

(251,345)

(238,276)

Net current liabilities

 

(245,879)

(237,447)

Total assets less current liabilities

 

510,189

526,647

Creditors: Amounts falling due after more than one year

7

(388,600)

(394,180)

Provisions for liabilities

(29,633)

(29,633)

Net assets

 

91,956

102,834

Capital and reserves

 

Called up share capital

8

2

2

Other reserves

178,177

178,177

Retained earnings

(86,223)

(75,345)

Shareholders' funds

 

91,956

102,834

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 April 2025 and signed on its behalf by:
 

 

Orion Property Management Limited

(Registration number: 11933676)
Balance Sheet as at 31 July 2024

.........................................
R Jenkins
Director

   
     
 

Orion Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
128 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the Board on 27 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Orion Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 July 2024

Asset class

Depreciation method and rate

Office Equipment

15% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Orion Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

15,981

18,200

34,181

Additions

1,600

-

1,600

At 31 July 2024

17,581

18,200

35,781

Depreciation

At 1 May 2023

10,162

9,925

20,087

Charge for the period

3,938

5,688

9,626

At 31 July 2024

14,100

15,613

29,713

Carrying amount

At 31 July 2024

3,481

2,587

6,068

At 30 April 2023

5,819

8,275

14,094

5

Investment properties

2024
£

At 1 May

750,000

At 31 July

750,000

Investment properties were valued on an open market basis on 31 July 2024 by the directors.

6

Debtors

Current

2024
£

2023
£

 

-

-

 

Orion Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

1

1

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12,959

-

Accruals and deferred income

 

680

680

Other creditors

 

237,705

237,595

 

251,345

238,276

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

388,600

394,180

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

Orion Property Management Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 July 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

23,468

29,048

Other borrowings

365,132

365,132

388,600

394,180

The loan is secured over the assets of the companies.