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REGISTERED NUMBER: 10886790 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ORA EUROPE LTD

ORA EUROPE LTD (REGISTERED NUMBER: 10886790)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ORA EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr N Speicher
Mr P Colvin
T Koria
L Kealey





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 10886790 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

ORA EUROPE LTD (REGISTERED NUMBER: 10886790)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
CURRENT ASSETS
Debtors 5 1,950,310 1,438,658
Cash at bank 20,169 52,162
1,970,479 1,490,820
CREDITORS
Amounts falling due within one year 6 735,248 537,670
NET CURRENT ASSETS 1,235,231 953,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,235,231

953,150

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 1,235,230 953,149
SHAREHOLDERS' FUNDS 1,235,231 953,150

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Mr N Speicher - Director


ORA EUROPE LTD (REGISTERED NUMBER: 10886790)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Ora Europe Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis. The directors believe this basis is the most appropriate as the parent company, Ora LLC, have confirmed they will continue to provide financial support to Ora Europe Ltd for a period of at least 12 months and a day following the signing of the audit report attached to these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is a cost recharge to the parent company, Ora LLC, in accordance with their agreement. Turnover is wholly attributable to the principal activity of the company and is recognised when the relevant costs are incurred.

Tangible fixed assets
Tangible fixed assets are initially recognised at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment - Straight line over 3 years

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.


ORA EUROPE LTD (REGISTERED NUMBER: 10886790)

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic Financial Instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Cost of sales
The company operates solely under a cost-plus arrangement with its parent company, whereby it is reimbursed for project-related expenses incurred, along with an agreed markup. Although the company does not undertake revenue-generating activities independently, costs directly attributable to the delivery of services on the parent company's projects are classified as cost of sales.

This classification reflects the substance of the company’s operations, as these costs are directly linked to revenue under the cost-plus model. Cost of sales primarily includes staff costs, subcontractor fees, and other direct project-related expenses.

Administrative costs include costs of operating the UK entity which are also included in the cost-plus mark up but are not part of the parent company's external project delivery.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 29 ) .

ORA EUROPE LTD (REGISTERED NUMBER: 10886790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 14,673
DEPRECIATION
At 1 January 2024
and 31 December 2024 14,673
NET BOOK VALUE
At 31 December 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed by group undertakings 1,721,800 1,351,767
Other debtors 228,510 86,891
1,950,310 1,438,658

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 374,468 71,335
Taxation and social security 116,674 134,800
Other creditors & accruals 244,106 331,535
735,248 537,670

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £0.01 1 1

8. RESERVES
Retained
earnings
£   

At 1 January 2024 953,149
Profit for the year 282,081
At 31 December 2024 1,235,230

ORA EUROPE LTD (REGISTERED NUMBER: 10886790)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Lockwood (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

11. ULTIMATE PARENT COMPANY

The immediate and ultimate parent company is Ora LLC, a company incorporated at 138 Haverhill Street, Suite 102, Andover, MA 01810, USA. Ora LLC is the largest and only group company to prepare consolidated financial statements. The consolidated accounts are not publicly available.