Ortisi Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09415057

Ortisi Ltd

Filleted Unaudited Reports and Accounts

31 January 2025

Ortisi Ltd

Statement of Financial Position

31 January 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	4,355	6,215

Current assets

Debtors	6	–	8,968
Cash at bank and in hand		73,018	60,719
		--------	--------
		73,018	69,687

Creditors: amounts falling due within one year	7	68,646	66,964
		--------	--------
Net current assets		4,372	2,723
		-------	-------
Total assets less current liabilities		8,727	8,938
		-------	-------
Net assets		8,727	8,938
		-------	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	8,726	8,937
	-------	-------
Shareholders funds	8,727	8,938
	-------	-------

These Reports and Accounts 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 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Reports and Accounts .

Ortisi Ltd

Statement of Financial Position (continued)

31 January 2025

These Reports and Accounts were approved by the board of directors and authorised for issue on 20 October 2025 , and are signed on behalf of the board by:

Mr S Ortisi
Director

Company registration number: 09415057

Ortisi Ltd

Notes to the Reports and Accounts

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Earlsfield Business Centre, 9 Lydden Road, London, SW18 4LT, England.

2. Statement of compliance

These Reports and Accounts 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 Reports and Accounts 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 Reports and Accounts are prepared in sterling, which is the functional currency of the entity.

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.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

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:

Equipment	-	25% straight line
Musical equipment	-	20% straight line

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Equipment	Musical equipment	Total
	£	£	£
Cost
At 1 February 2024	15,674	6,130	21,804
Additions	–	1,027	1,027
	--------	-------	--------
At 31 January 2025	15,674	7,157	22,831
	--------	-------	--------
Depreciation
At 1 February 2024	13,192	2,397	15,589
Charge for the year	1,454	1,433	2,887
	--------	-------	--------
At 31 January 2025	14,646	3,830	18,476
	--------	-------	--------
Carrying amount
At 31 January 2025	1,028	3,327	4,355
	--------	-------	--------
At 31 January 2024	2,482	3,733	6,215
	--------	-------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	–	8,968
	----	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	556	4,496
Other creditors	68,090	62,468
	--------	--------
	68,646	66,964
	--------	--------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2025	2024
	£	£
Mr S Ortisi	( 66,830)	( 61,388)
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