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Company registration number: SC636425
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 DECEMBER 2024
| ORBITONIX LTD
ORBITONIX LTD |  |
COMPANY INFORMATION
Director | V Levykin
Company secretary | L Edison
Registered number | SC636425
Registered office | 5 South Charlotte Street
| Edinburgh
| Scotland
| EH2 4AN
Independent auditor | MHA
| 2 London Wall Place
| London
| EC2Y 5AU
ORBITONIX LTD |  |
CONTENTS
| Page
Statement of financial position | 1
Notes to the financial statements | 2 - 4
ORBITONIX LTD REGISTERED NUMBER:SC636425 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 2,426 |  | 369 |
Cash at bank and in hand |  | 1,819 |  | 1,191 |
|  | 4,245 |  | 1,560 |
Creditors: amounts falling due within one year | 5 | (3,090) |  | (8,195) |
Net current assets/(liabilities) |  |  | 1,155 |  | (6,635)
Total assets less current liabilities |  |  | 1,155 |  | (6,635)
Net assets/(liabilities) |  |  | 1,155 |  | (6,635)
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 15,000 |  | 1,000
Capital contribution reserve | 7 |  | - |  | 3,794
Profit and loss account | 7 |  | (13,845) |  | (11,429)
|  |  | 1,155 |  | (6,635)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
V Levykin
Director
Date: 10 November 2025
The notes on pages 2 to 4 form part of these financial statements. Page 1
ORBITONIX LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Orbitonix Limited is a private company limited by shares and is incorporated in Scotland. The address of the registered office is disclosed on the company information page. The company's principal trading activity is in relation to new orbits of mobile development. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
At 31 December 2024, the company has net liabilities of £1,155 (2023 - £6,635) and is reliant upon the financial support of the parent company to continue to meet its liabilities as and when they fall due for at least twelve months from the date of approval of the financial statements. The parent company has substantial cash reserves and is well equipped to provide adequate funding to the Company to ensure it maintains a sound financial situation and is in a position to meet its debt obligations for the foreseeable future. Whilst some uncertainties still exist and these may cast doubt on the company’s ability to continue as a going concern, the director has assessed that the actions he has taken should enable it to continue in operational existence for at least twelve months from the approval of these accounts.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP, and the accounts are rounded to the nearest £. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.4 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.5 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Page 2
ORBITONIX LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.6 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.7 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
4. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 60 | 369
| Unpaid share capital | 2,366 | -
|  | 2,426 | 369
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accruals and deferred income | 3,090 | 8,195
|  | 3,090 | 8,195
Page 3
ORBITONIX LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
6. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 12,634 (2023 - 1,000) Ordinary Shares shares of £1.00 each | 12,634 | 1,000
|  | Allotted, called up and unpaid |  |
|  | 2,366 (2023 - ) Ordinary Shares shares of £1.00 each | 2,366 | -
On 19 September 2024 there was an allotment of 600,000 £1.00 Ordinary shares for a consideration of £600,000. Of the 600,000 Ordinary shares issued, 2,366 were unpaid at the year ended 31 December 2024.
7. | Reserves
Share capital The share capital account represents the par value of the shares allotted in the company. Capital contribution reserve This reserve represents funds contributed without the issuing of additional shares. Profit and loss account The profit and loss account contains the balance of retained earnings to carry forward. It is fully distributable and shown as part of shareholders' reserves on the balance sheet.
8. | Parent company and controlling party
The parent of the smallest group for which consolidated financial statements are drawn up is Skyrora Ventures Limited. The address of their registered office is: 7 Drum Mains Park, Cumbernauld, Glasgow, Scotland, G68 9LD. Skyrora Ventures Limited prepares consolidated financial statements, including Orbitonix Ltd, which are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. M Polyakov is considered to be the ultimate controlling party.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 12 November 2025 by Andrew Moyser FCA FCCA (Senior statutory auditor) on behalf of MHA.
Page 4