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Logo On Report
Registered Number: 07176976
England and Wales

 

 

 

ORLANDO REID LIMITED



Filleted Accounts
 


Period of accounts

Start date: 01 December 2023

End date: 30 November 2024
Directors Jack Reid
Baljit Arora
Registered Number 07176976
Registered Office 1-3 Old Town
London
England
SW4 0JT
Accountants IBISS & CO Limited
188 Mitcham Road
Tooting
London
SW17 9NJ
1
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
IBISS & CO Limited
30 November 2024



....................................................

IBISS & CO Limited

188 Mitcham Road
Tooting
London
SW17 9NJ
18 June 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 50,324    67,099 
Tangible fixed assets 4 28,695    44,579 
79,019    111,678 
Current assets      
Debtors 5 2,832,353    2,750,793 
Cash at bank and in hand 531,204    608,166 
3,363,557    3,358,959 
Creditors: amount falling due within one year 6 (2,296,835)   (2,280,571)
Net current assets 1,066,722    1,078,388 
 
Total assets less current liabilities 1,145,741    1,190,066 
Creditors: amount falling due after more than one year 7 (411,913)   (558,023)
Net assets 733,828    632,043 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 732,828    631,043 
Shareholders' funds 733,828    632,043 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 June 2025 and were signed on its behalf by:


-------------------------------
Baljit Arora
Director
3
General Information
Orlando Reid Limited is a private company, limited by shares, registered in England and Wales, registration number 07176976, registration address 1-3 Old Town, London, England, SW4 0JT.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20 % Straight Line
Fixtures and Fittings 20 % Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 19 (2023 : 10).
3.

Intangible fixed assets

Cost Website Development Costs 20% Straight Line method   Total
  £   £
At 01 December 2023 83,874    83,874 
Additions  
Disposals  
At 30 November 2024 83,874    83,874 
Amortisation
At 01 December 2023 16,775    16,775 
Charge for year 16,775    16,775 
On disposals  
At 30 November 2024 33,550    33,550 
Net book values
At 30 November 2024 50,324    50,324 
At 30 November 2023 67,099    67,099 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 December 2023 18,214    92,198    110,412 
Additions   5,000    5,000 
Disposals    
At 30 November 2024 18,214    97,198    115,412 
Depreciation
At 01 December 2023 16,437    49,396    65,833 
Charge for year 1,777    19,107    20,884 
On disposals    
At 30 November 2024 18,214    68,503    86,717 
Net book values
Closing balance as at 30 November 2024   28,695    28,695 
Opening balance as at 01 December 2023 1,777    42,802    44,579 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   89,008 
My Deposits 708,928    708,928 
Tenancy deposits 1,127,485    859,810 
Other Investments 40,000    40,000 
Orlando Reid Manchester-current year 23,820    83,927 
1,900,233    1,781,673 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Orlando Reid (Holdings) Limited -Long Term 807,120    844,120 
Orlando Reid (Manchester) Limited-Long term 125,000    125,000 
932,120    969,120 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 129,414    90,998 
Directors Loan Account- Jack (3,432)   3,267 
Landlord Deposit Custodial 708,928    708,928 
Client Money 361,000    407,117 
Security Deposits 39,805    35,700 
Client Tenancy Deposit 1,127,485    859,810 
Overseas Tax   (9,160)
Sheraton Law (189,327)   9,449 
Directors Loan Account- Bal (1,115)  
Corporation Tax 55,790    55,843 
PAYE & Social Security 4,404    9,253 
Pension Payable 1,673    1,325 
Other Creditors   1 
Wages & Salaries Control Account   207 
Credit Cards 5,400    15,647 
VAT 56,810    92,186 
2,296,835    2,280,571 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Skye Funding Aiwoca 196,080    264,080 
Bank Loans & Overdrafts 47,500    75,610 
Loan- Kingsway Asset Finance 168,333    218,333 
411,913    558,023 

8.

Orlando Reid (Holdings) Limited

At the reporting date, the company was owed £807,120 by its parent company, Orlando Reid (Holdings) Limited. The balance is unsecured, interest-free, and has no fixed date of repayment.
9.

Sheraton Law Limited

At the reporting date, the company was owed £189,327 by its Associate Company, Sheraton Law Limited . The balance is unsecured, interest-free, and has no fixed date of repayment.

10.

Orlando Reid (Manchester) Limited

At the reporting date, the company was owed £148,821 by its Associate company, Orlando Reid (Manchester) Limited. The balance is unsecured, interest-free, and has no fixed date of repayment.
4