Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 09158611 Mr Daniel McMullan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09158611 2023-08-31 09158611 2024-08-31 09158611 2023-09-01 2024-08-31 09158611 frs-core:CurrentFinancialInstruments 2024-08-31 09158611 frs-core:Non-currentFinancialInstruments 2024-08-31 09158611 frs-core:MotorVehicles 2024-08-31 09158611 frs-core:MotorVehicles 2023-09-01 2024-08-31 09158611 frs-core:MotorVehicles 2023-08-31 09158611 frs-core:PlantMachinery 2024-08-31 09158611 frs-core:PlantMachinery 2023-09-01 2024-08-31 09158611 frs-core:PlantMachinery 2023-08-31 09158611 frs-core:ShareCapital 2024-08-31 09158611 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 09158611 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09158611 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 09158611 frs-bus:SmallEntities 2023-09-01 2024-08-31 09158611 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 09158611 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09158611 frs-bus:Director1 2023-09-01 2024-08-31 09158611 frs-countries:EnglandWales 2023-09-01 2024-08-31 09158611 2022-08-31 09158611 2023-08-31 09158611 2022-09-01 2023-08-31 09158611 frs-core:CurrentFinancialInstruments 2023-08-31 09158611 frs-core:Non-currentFinancialInstruments 2023-08-31 09158611 frs-core:ShareCapital 2023-08-31 09158611 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 09158611
Orbis Electrics Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09158611
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,360 44,019
51,360 44,019
CURRENT ASSETS
Stocks 5 10,000 -
Debtors 6 24,886 17,410
Cash at bank and in hand 105,680 176,535
140,566 193,945
Creditors: Amounts Falling Due Within One Year 7 (72,811 ) (73,011 )
NET CURRENT ASSETS (LIABILITIES) 67,755 120,934
TOTAL ASSETS LESS CURRENT LIABILITIES 119,115 164,953
Creditors: Amounts Falling Due After More Than One Year 8 (21,399 ) (37,810 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,840 ) (11,005 )
NET ASSETS 84,876 116,138
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 84,776 116,038
SHAREHOLDERS' FUNDS 84,876 116,138
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:
Mr Daniel McMullan
Director
29/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Orbis Electrics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09158611 . The registered office is Unit 7 Vulcan House, Restmor Way, Wallington, SM6 7AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant & Machinery 25% straight line per annum
Motor Vehicles 25% straight line per annum
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.5. Leasing and Hire Purchase Contracts
Hire purchase leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under hire purchase leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.8. Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.
2.9. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2023 4,438 70,409 74,847
Additions 1,062 17,289 18,351
As at 31 August 2024 5,500 87,698 93,198
Depreciation
As at 1 September 2023 3,555 27,273 30,828
Provided during the period 392 10,618 11,010
As at 31 August 2024 3,947 37,891 41,838
Net Book Value
As at 31 August 2024 1,553 49,807 51,360
As at 1 September 2023 883 43,136 44,019
5. Stocks
2024 2023
£ £
Work in progress 10,000 -
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,600 17,410
Other debtors 7,286 -
24,886 17,410
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,286 -
Bank loans and overdrafts 4,980 4,980
Other creditors 13,704 11,984
Taxation and social security 33,841 56,047
72,811 73,011
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,041 11,052
Other creditors 16,358 26,758
21,399 37,810
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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