REGISTERED NUMBER: 11356084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ORRI LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K L Jones

S C H Bursell

REGISTERED OFFICE:

80-81 Wimpole Street

London

W1G 9RE

REGISTERED NUMBER:

11356084 (England and Wales)

ACCOUNTANTS:

Kingly Jones LLP

Chartered Accountants

414 Linen Hall

162-168 Regent Street

London

W1B 5TE

FIXED ASSETS

Intangible assets

4

82,643

177,311

Tangible assets

5

1,069,158

1,504,608

1,151,801

1,681,919

CURRENT ASSETS

Debtors

6

1,044,555

1,119,740

Cash at bank and in hand

232,234

401,899

1,276,789

1,521,639

CREDITORS

Amounts falling due within one year

7

3,855,155

2,830,088

NET CURRENT LIABILITIES

(2,578,366

)

(1,308,449

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,426,565

)

373,470

CAPITAL AND RESERVES

Called up share capital

4,648

4,548

Share premium

7,173,474

6,291,224

Retained earnings

(8,604,687

)

(5,922,302

)

(1,426,565

)

373,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

K L Jones - Director

1.	STATUTORY INFORMATION

Orri Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The Directors have prepared detailed forecasts for the commercial flows of the company up to the end of 2028. Following the £1,000,000 (gross) investment in August 2025, these forecasts show that the company expects to have sufficient funds to operate for a period of at least 12 months beyond the anticipated approval of the financial statements.

However, given the historical unpredictability of revenues, along with potential expansion plans, there is the possibility that additional investment could be required. Given the shareholder support that the company has enjoyed in previous years, combined with the recent progress achieved in revenue growth, the Directors are confident of being able to attract the required investor interest, should it be required. Therefore, the Directors have prepared the financial statements on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised over their estimated useful economic life of 3 years.

Tangible fixed assets

Tangible assets are initially recorded at cost and are subsequently stated as cost less any accumulated depreciation and impairment losses.

Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:

Land and buildings (leasehold improvements) Over the remaining life of the lease terms

Plant and machinery 25% -33% Straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate.

Financial instruments

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 95 (2023 - 78 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

337,840

Additions

11,098

At 31 December 2024

348,938

AMORTISATION

At 1 January 2024

160,529

Charge for year

105,766

At 31 December 2024

266,295

NET BOOK VALUE

At 31 December 2024

82,643

At 31 December 2023

177,311

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

2,063,881

428,219

2,492,100

Additions

(14,216

)

12,360

(1,856

)

At 31 December 2024

2,049,665

440,579

2,490,244

DEPRECIATION

At 1 January 2024

808,372

179,120

987,492

Charge for year

328,299

105,295

433,594

At 31 December 2024

1,136,671

284,415

1,421,086

NET BOOK VALUE

At 31 December 2024

912,994

156,164

1,069,158

At 31 December 2023

1,255,509

249,099

1,504,608

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

192,770

276,739

Other debtors

41,110

41,110

Directors' current accounts

-

553

Prepayments and accrued income

353,333

343,996

587,213

662,398

Amounts falling due after more than one year:

Other debtors

457,342

457,342

Aggregate amounts

1,044,555

1,119,740

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

-

44,505

Other loans (see note 8)

1,715,705

1,000,000

Trade creditors

442,058

364,972

Social security and other taxes

446,905

104,270

VAT

11,739

7,369

Other creditors

31,133

38,965

Accruals and deferred income

1,207,615

1,270,007

3,855,155

2,830,088

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

-

44,505

Other loans

1,715,705

1,000,000

1,715,705

1,044,505

Unsecured loan notes of £1,000,000, issued in 2023, were converted into preference shares in March 2024.