REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Orca Global Company Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Orca Global Company Limited |
Orca Global Company Limited (Registered number: SC658374) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Report of the Directors | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Orca Global Company Limited (Registered number: SC658374) |
Report of the Directors |
for the Year Ended 31 December 2024 |
The directors present their report with the financial statements of the company for the year ended 31 December 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the sale of professional hygiene chemicals and cleaning products. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report. |
ACHIEVEMENTS IN 2024 |
2024 was another year of growth and consolidation for Orca. We continued to showcase resilience and strong strategic awareness, leveraging opportunities to cultivate our customer-centric culture. Our organisational development has achieved significant milestones in 2024 and driven solid financial growth. |
STRATEGIC FOCUS FOR THE UPCOMING YEAR |
Customer Care: Our growth strategy is fundamentally centred around our customers. Their needs and satisfaction remain at the heart of everything we do. |
Organisational Capacity: We are committed to enhancing our internal capabilities to support an expanded and more dynamic operation. This will ensure we meet and exceed customer expectations. |
Sustainable Growth: Implementing strategies for sustainable growth is a priority. We will keep a keen eye on market trends and opportunities that align with our business objectives, ensuring our growth is both robust and responsible. |
CONCLUSION |
2024 was another landmark year for Orca with strong financial outcomes. These outcomes position us to achieve continued and sustainable growth whilst delivering exceptional value to our customers. As we look ahead into 2025, we are excited and fully committed to continuing to deliver on our strategic goals. |
SHAREHOLDERS NOTE |
As of the close of the fiscal year 2024, the balance sheet reflects long term liabilities owed to related parties amounting to £1,111,870 (refer to note 8). The purpose of the loan from an entity with common stakeholders and directors was to support and facilitate the growth of Orca. 2024 demonstrates how the shareholders commitment and vision is successfully being executed, and the shareholders remain deeply invested in supporting the continued growth of Orca into the future. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Orca Global Company Limited (Registered number: SC658374) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) |
Orca Global Company Limited (Registered number: SC658374) |
Balance Sheet - continued |
31 December 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Orca Global Company Limited (Registered number: SC658374) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Orca Global Company Limited is a private company, limited by shares, domiciled in Scotland, registration number SC658374. The registered office is Blackhouse Circle, Blackhouse Industrial Estate, Peterhead, Aberdeenshire, AB42 1BN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of goods respect of professional hygiene chemicals and cleaning products, excluding value added tax. Sales are recognised at the point at which the goods are delivered. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets and depreciation |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price. |
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 balance sheet date. |
Orca Global Company Limited (Registered number: SC658374) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Orca Global Company Limited (Registered number: SC658374) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Orca Global Company Limited (Registered number: SC658374) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Amounts owed to related parties | 213,600 | - |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Hire purchase contracts |
Amounts owed to related parties | 1,111,870 | 1,428,586 |
Orca Global Company Limited (Registered number: SC658374) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.24 | 31.12.23 |
£ | £ |
Hire purchase contracts | 171,850 | 176,160 |
Hire purchase contracts are secured on the assets to which they relate. |
10. | RELATED PARTY DISCLOSURES |
At the year end the company owed £1,325,470 (2023: £1,428,586) to companies with common directors and shareholders. |