Company Registration No. 03113036 (England and Wales)
Orafin Limited
Unaudited accounts
for the year ended 31 October 2024
Orafin Limited
Company Information
for the year ended 31 October 2024
Company Number
03113036 (England and Wales)
Registered Office
73a High Street
Egham
Surrey
TW20 9HE
United Kingdom
Accountants
Howard and Company
High Street
Egham
Surrey
TW20 9HE
Orafin Limited
Statement of financial position
as at 31 October 2024
Tangible assets
1,397
1,814
Investment property
1,400,000
900,000
Cash at bank and in hand
348,027
340,558
Creditors: amounts falling due within one year
(19,153)
(4,872)
Net current assets
328,874
341,678
Total assets less current liabilities
1,730,271
1,243,492
Provisions for liabilities
Net assets
1,604,874
1,243,492
Called up share capital
2
2
Profit and loss account
1,604,872
1,243,490
Shareholders' funds
1,604,874
1,243,492
For the year ending 31 October 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 director acknowledges her 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 and authorised for issue on 4 June 2025 and were signed on its behalf by
G M Alexander
Director
Company Registration No. 03113036
Orafin Limited
Notes to the Accounts
for the year ended 31 October 2024
Orafin Limited is a private company, limited by shares, registered in England and Wales, registration number 03113036. The registered office is 73a High Street, Egham, Surrey, TW20 9HE, United Kingdom.
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 investment properties.
The accounts are presented in £ sterling.
Turnover comprises the value of rents receivable during the year.
Corporation tax payable is provided on taxable profits at the current rate.
Deferred taxation is provided to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. It is measured using the tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws enacted or substantially enacted at the balance sheet date. Tax deferred or accelerated is accounted for in respect of all material timing differences with the exception of deferred tax assets which are only recognised to the extent that the directors consider it is more likely than not that there will be suitable future taxable profits available against which to deduct the temporary timing differences.
Both current and deferred tax for the year is recognised in the income statement.
Property, plant and equipment
Property, plant and equipment is included at cost less depreciation. Depreciation is provided at the following annual rates in order to write each asset down to its estimated residual value over its estimated useful life:
Fixtures & fittings
20% Reducing balance
Investment properties are initially recognised at cost. Subsequently properties are shown in the balance sheet at fair value with the surplus or deficit on revaluation being recognised in the income statement. Deferred taxation is provided on these gains and losses at the rate expected to apply when the property is sold.
Orafin Limited
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 November 2023
900,000
Net gain from fair value adjustments
500,000
At 31 October 2024
1,400,000
The book value of investment properties had they not been adjusted for fair value would have been £426,343 (2023 - £431,953).
The company's investment property was valued by the directors during 2024 using the open market method.
Amounts falling due within one year
Deferred tax asset
-
5,992
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,659
3,357
Loans from directors
10,935
4
Orafin Limited
Notes to the Accounts
for the year ended 31 October 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
349
(6,040)
Revaluation of investment property
125,048
48
Provision at start of year
(5,992)
(5,989)
Charged/(credited) to the profit and loss account
131,389
(3)
Provision at end of year
125,397
(5,992)
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).