Orion (GB) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02267245

Orion (GB) Limited

Filleted Unaudited Financial Statements

31 December 2024

Orion (GB) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	15,426	15,426
Tangible assets	6	1,988,106	1,990,753
Investments	7	1	1
		------------	------------
		2,003,533	2,006,180

Current assets

Stocks		278,071	128,465
Debtors	8	801,006	668,957
Cash at bank and in hand		6,140	51,980
		------------	---------
		1,085,217	849,402

Creditors: amounts falling due within one year	9	1,154,155		488,063
		------------		---------
Net current (liabilities)/assets			( 68,938)	361,339
			------------	------------
Total assets less current liabilities			1,934,595	2,367,519

Creditors: amounts falling due after more than one year	10	374,704	835,275
		------------	------------
Net assets		1,559,891	1,532,244
		------------	------------

Capital and reserves

Called up share capital	250,000	250,000
Revaluation reserve	343,196	343,196
Profit and loss account	966,695	939,048
	------------	------------
Shareholders funds	1,559,891	1,532,244
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Orion (GB) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:

P L Suri

Director

Company registration number: 02267245

Orion (GB) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 15, First Floor, Adrienne Business Centre, Adrienne Avenue, Southall, Middlesex, UB1 2FJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures, Fittings and Equipment	-	10% straight line
Motor Vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2024 and 31 December 2024	15,426
	--------
Amortisation
At 1 January 2024 and 31 December 2024	–
	--------
Carrying amount
At 31 December 2024	15,426
	--------
At 31 December 2023	15,426
	--------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	1,887,008	189,511	17,485	2,094,004
Additions	–	1,128	–	1,128
	------------	---------	--------	------------
At 31 December 2024	1,887,008	190,639	17,485	2,095,132
	------------	---------	--------	------------
Depreciation
At 1 January 2024	–	99,244	4,007	103,251
Charge for the year	–	406	3,369	3,775
	------------	---------	--------	------------
At 31 December 2024	–	99,650	7,376	107,026
	------------	---------	--------	------------
Carrying amount
At 31 December 2024	1,887,008	90,989	10,109	1,988,106
	------------	---------	--------	------------
At 31 December 2023	1,887,008	90,267	13,478	1,990,753
	------------	---------	--------	------------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	1
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	1
	----
At 31 December 2023	1
	----

The company owns 100% of the issued share capital of Thakral (UK) Limited.

Aggregate capital and reserves

	31 Dec 2024	31 Dec 2023
	£	£
Thakral (UK) Limited (dormant)	1	1

Profit and (loss) for the year

Thakral (UK) Limited (dormant)		1		1

As the company is subject to the small companies regime, group accounts have not been prepared.

8. Debtors

	2024	2023
	£	£
Trade debtors	788,995	664,602
Other debtors	12,011	4,355
	---------	---------
	801,006	668,957
	---------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	757,238	235,648
Trade creditors	325,992	192,510
Corporation tax	6,535	876
Social security and other taxes	24,603	19,242
Other Creditors	39,787	39,787
	------------	---------
	1,154,155	488,063
	------------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	361,893	820,454
Other creditors	12,811	14,821
	---------	---------
	374,704	835,275
	---------	---------

The bank loans are repayable by instalments as follow:

- Loan 1 is payable by instalments over 20 years.

- Loan 2 is payable by instalments over 7 years with a bullet repayment at the end of the term.

- Loan 3 is payable by instalments over 10 years.

	2024	2023
	£	£
After 5 years	227,897	234,161
Between 1 and 5 years	133,996	586,293
	---------	---------
	361,893	820,454
	---------	---------

The bank loans are secured by charges over the assets of the company.

11. Contingencies

The company has signed letters of credit as at the year end totalling Nil (31/12/2023: Nil)

12. Related party transactions

Included in the sales is £100,963 (31 December 2023: £281,997) invoiced to Thakral Corporation (HK) Ltd. In the opinion of the directors all the transactions are at arms length.

13. Controlling party

The company is a wholly owned by Mr Gurmukh Singh Thakral, who is also a director of Orion (GB) Limited .