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Company No: 07675839 (England and Wales)

ORME RETAIL LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ORME RETAIL LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ORME RETAIL LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
ORME RETAIL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR Richard James Levis
SECRETARY Oliver Mark Wilson
REGISTERED OFFICE Bond Street House
14 Clifford Street
London
W1S 4JU
United Kingdom
COMPANY NUMBER 07675839 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
ORME RETAIL LIMITED

BALANCE SHEET

As at 30 June 2024
ORME RETAIL LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 5 13,081 18,124
13,081 18,124
Current assets
Debtors 6 572,945 1,094,959
Cash at bank and in hand 256,242 65,555
829,187 1,160,514
Creditors: amounts falling due within one year 7 ( 338,316) ( 184,388)
Net current assets 490,871 976,126
Total assets less current liabilities 503,952 994,250
Creditors: amounts falling due after more than one year 8 ( 450,236) ( 435,068)
Provision for liabilities ( 3,270) ( 4,531)
Net assets 50,446 554,651
Capital and reserves
Called-up share capital 3 3
Profit and loss account 50,443 554,648
Total shareholders' funds 50,446 554,651

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Orme Retail Limited (registered number: 07675839) were approved and authorised for issue by the Director on 18 June 2025. They were signed on its behalf by:

Richard James Levis
Director
ORME RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ORME RETAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Orme Retail Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bond Street House, 14 Clifford Street, London, W1S 4JU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line
Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 5

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 2,350,000 2,350,000
At 30 June 2024 2,350,000 2,350,000
Accumulated amortisation
At 01 July 2023 2,350,000 2,350,000
At 30 June 2024 2,350,000 2,350,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

5. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 July 2023 989 28,241 29,230
Additions 0 666 666
At 30 June 2024 989 28,907 29,896
Accumulated depreciation
At 01 July 2023 989 10,117 11,106
Charge for the financial year 0 5,709 5,709
At 30 June 2024 989 15,826 16,815
Net book value
At 30 June 2024 0 13,081 13,081
At 30 June 2023 0 18,124 18,124

6. Debtors

2024 2023
£ £
Trade debtors 306,088 228,795
Amounts owed by Group undertakings 245,636 854,110
Other debtors 21,221 12,054
572,945 1,094,959

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 29,167
Trade creditors 42,163 9,558
Taxation and social security 252,067 112,626
Other creditors 34,086 33,037
338,316 184,388

Bank loans and overdrafts are secured by way of a fixed and floating charge over the company’s assets and undertakings.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,168 0
Other creditors 441,068 435,068
450,236 435,068

Bank loans and overdrafts are secured by way of a fixed and floating charge over the company’s assets and undertakings.

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
At the year end a group company owed the company: 245,636 854,110

10. Ultimate controlling party

Parent Company:

RJL Retail Property Ltd
11b Wood Vale, Forest Hill, London, United Kingdom, SE23 3DS

The company's ultimate parent company is RJL Retail Property Ltd a company incorporated in England and Wales.