Registered number
10552097
ORBIT FOLKESTONE LTD
Filleted Accounts
31 January 2025
ORBIT FOLKESTONE LTD
Registered number: 10552097
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 11,235 12,140
Current assets
Debtors 4 36,192 22,164
Cash at bank and in hand 945 5,462
37,137 27,626
Creditors: amounts falling due within one year 5 (23,516) (21,946)
Net current assets 13,621 5,680
Total assets less current liabilities 24,856 17,820
Creditors: amounts falling due after more than one year 6 (667) (2,667)
Net assets 24,189 15,153
Capital and reserves
Called up share capital 1 1
Profit and loss account 24,188 15,152
Shareholders' funds 24,189 15,153
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Samuel L Carney
Director
Approved by the board on 23 October 2025
ORBIT FOLKESTONE LTD
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and building over 40 years
Equipment, fixtures and fittings over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Equipment, fixtures and fittings Total
£ £ £
Cost
At 1 February 2024 9,854 8,614 18,468
Additions - 500 500
At 31 January 2025 9,854 9,114 18,968
Depreciation
At 1 February 2024 805 5,523 6,328
Charge for the year 246 1,159 1,405
At 31 January 2025 1,051 6,682 7,733
Net book value
At 31 January 2025 8,803 2,432 11,235
At 31 January 2024 9,049 3,091 12,140
4 Debtors 2025 2024
£ £
Trade debtors 15,960 11,308
Deferred tax asset 218 271
Other debtors 20,014 10,585
36,192 22,164
Amounts due after more than one year included above 218 271
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 2,000 2,000
Taxation and social security costs 19,716 18,146
Other creditors 1,800 1,800
23,516 21,946
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 667 2,667
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Samuel L Carney 10,585 20,429 (11,000) 20,014
10,585 20,429 (11,000) 20,014
8 Other information
ORBIT FOLKESTONE LTD is a private company limited by shares and incorporated in England. Its registered office is:
31 Earlsfield Road
Hythe
Kent
CT21 5PE
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