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Registered number: 02186623
Orion Projects Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02186623
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,094 2,463
Investments 5 122 136,492
2,216 138,955
CURRENT ASSETS
Stocks 6 134,000 39,000
Debtors 7 103,822 44,262
Cash at bank and in hand 91,280 82,516
329,102 165,778
Creditors: Amounts Falling Due Within One Year 8 (46,736 ) (33,321 )
NET CURRENT ASSETS (LIABILITIES) 282,366 132,457
TOTAL ASSETS LESS CURRENT LIABILITIES 284,582 271,412
PROVISIONS FOR LIABILITIES
Deferred Taxation (524 ) (616 )
NET ASSETS 284,058 270,796
CAPITAL AND RESERVES
Called up share capital 9 104 104
Profit and Loss Account 283,954 270,692
SHAREHOLDERS' FUNDS 284,058 270,796
Page 1
Page 2
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 directors acknowledge their 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.
On behalf of the board
Mr Andrew Fotheringham
Director
Mr Roger Burridge
Director
9 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Orion Projects Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02186623 . The registered office is 5 Castle Buildings Gilston Road, Saltash, Cornwall, PL12 6TW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.  This depends on the continued financial support of the company's directors (and bankers).  
The directors have prepared the financial statements on a going concern basis, on the understanding that they will continue to provide financial support if it is required and, accordingly, the financial statements do not include any adjustments that would result if this support were not forthcoming.
The following additional principal accounting policies have been applied:
2.3. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance
2.5. 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.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Investments
Fixed asset investments are included in the financial statement at fair value at the balance sheet date. The surplus or deficit on revaluation is transferred to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2023 12,582
As at 31 October 2024 12,582
Depreciation
As at 1 November 2023 10,119
Provided during the period 369
As at 31 October 2024 10,488
Net Book Value
As at 31 October 2024 2,094
As at 1 November 2023 2,463
5. Investments
Listed
£
Cost
As at 1 November 2023 136,492
Disposals (152,095 )
Revaluations 15,725
As at 31 October 2024 122
Provision
As at 1 November 2023 -
As at 31 October 2024 -
Net Book Value
As at 31 October 2024 122
As at 1 November 2023 136,492
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Page 5
6. Stocks
2024 2023
£ £
Stock 4,000 4,000
Work in progress 130,000 35,000
134,000 39,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 49,060 39,330
Other debtors 54,762 4,932
103,822 44,262
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,243 6,652
Other creditors 5,473 9,502
Taxation and social security 37,020 17,167
46,736 33,321
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 104 104
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mr Andrew Fotheringham (4,035 ) 116,146 (86,000 ) - 26,111
Mr Roger Burridge (1,511 ) 116,161 (86,000 ) - 28,650
The above loan is unsecured, repayable on demand, and carries interest at an annual rate of 2.25%, charged monthly.
Page 5