REGISTERED NUMBER: 04933071 (England and Wales)

Orbital2 Limited

Financial Statements

for the Year Ended

31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Ruzicka

J Vosatka

REGISTERED OFFICE:

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

REGISTERED NUMBER:

04933071 (England and Wales)

AUDITORS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Intangible assets

4

6,302

6,302

Investments

5

5,000

5,000

11,302

11,302

CURRENT ASSETS

Debtors

6

7,406

7,406

CREDITORS

Amounts falling due within one year

7

375,116

374,362

NET CURRENT LIABILITIES

(367,710

)

(366,956

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(356,408

)

(355,654

)

CREDITORS

Amounts falling due after more than one year

8

269,017

269,017

NET LIABILITIES

(625,425

)

(624,671

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

10

101,375

101,375

Retained earnings

10

(726,900

)

(726,146

)

SHAREHOLDERS' FUNDS

(625,425

)

(624,671

)

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 10 September 2025 and were signed on its behalf by:

J Vosatka - Director

1.	STATUTORY INFORMATION

Orbital2 Limited 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.

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.

The accounts have been prepared on the going concern basis as the company has the continued financial support of the Wikov Industry group.

Preparation of consolidated financial statements

The financial statements contain information about Orbital2 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Wikov Industry A.S., Hvezdova 1716/2b, CZ-140 78 Praha 4, Czech Republic.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

259,341

AMORTISATION

At 1 January 2024

and 31 December 2024

253,039

NET BOOK VALUE

At 31 December 2024

6,302

At 31 December 2023

6,302

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

5,000

NET BOOK VALUE

At 31 December 2024

5,000

At 31 December 2023

5,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

7,406

7,406

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

367,838

367,838

Other creditors

7,278

6,524

375,116

374,362

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

269,017

269,017

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

269,017

269,017

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

(726,146

)

101,375

(624,771

)

Deficit for the year

(754

)

(754

)

At 31 December 2024

(726,900

)

101,375

(625,525

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Geoffrey Gilbert FCA (Senior Statutory Auditor)

for and on behalf of Moffat Gilbert

12.	RELATED PARTY DISCLOSURES

In prior years, the ultimate parent company Wikov Industry had made loans to the company. The balance owed to Wikov Industry at 31 December 2024 was £239,017 (2023 £239,017). The loan carries interest and the interest charges accrued to 31 December 2011 were £9,142, no further accrual has since been provided and no interest has been paid. A fellow subsidiary of the Wikov group, Wikov Gear s.r.o had loaned £30,000 to the company in a prior year. There was no interest charged on the loan in 2024 (2023 £1,761). The Wikov Industry group had provided services to the company in prior years and at 31 December 2024 the balance owed by the company was £71,333 (2023 £71,333).

The subsidiary of the company, Czech Orbital 2 s.r.o. had supplied services to the company in prior years. The balance owed to Czech Orbital 2 s.r.o. by the company at 31 December 2024 was £296,505 (2023 £296,505).