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Company Registration No. 9209025 (England and Wales)
Orveda Limited Unaudited Financial Statements for the year ended 31 December 2024
Orveda Limited Unaudited Financial Statements Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Orveda Limited Company Information for the year ended 31 December 2024
Director
Nicolas Vu
Company Number
9209025 (England and Wales)
Registered Office
10 New Street London EC2M 4TP England
Accountants
Finovium & Co 7 Bell Yard London WC2A 2JR
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Orveda Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
4,930
9,865
Current assets
Inventories
154,556
309,112
Debtors
877,431
984,285
Cash at bank and in hand
3,167,759
753,075
4,199,746
2,046,472
Creditors: amounts falling due within one year
(5,944,465)
(4,869,897)
Net current liabilities
(1,744,719)
(2,823,425)
Net liabilities
(1,739,789)
(2,813,560)
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
(1,739,889)
(2,813,660)
Shareholders' funds
(1,739,789)
(2,813,560)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 December 2025 and were signed on its behalf by
Nicolas Vu Director Company Registration No. 9209025
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Orveda Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Orveda Limited is a private company, limited by shares, registered in England and Wales, registration number 9209025. The registered office is 10 New Street, London, EC2M 4TP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.3% straight line
Fixtures & fittings
33.3% straight line
Computer equipment
33.3% straight line
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Orveda Limited Notes to the Accounts for the year ended 31 December 2024
Going concern
These financial statements have been prepared on the assumption that the Company is a going concern. When assessing the foreseeable future, the Director has looked at a period of at least twelve months from the date of approval of this report and the working capital requirements of the Company. After making enquiries, the director firmly believes that together with the financial support of shareholders the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 January 2024
274,560
Additions
2,895
At 31 December 2024
277,455
Depreciation
At 1 January 2024
264,695
Charge for the year
7,830
At 31 December 2024
272,525
Net book value
At 31 December 2024
4,930
At 31 December 2023
9,865
5
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
6
Transactions with related parties
The company continues to receive the financial support of the director who has provided various loans to the company totalling £3,776,850 (2023: £4,654,747) at the Balance Sheet date. Since 1 January 2024 the loan balance attracts interest at 12% pa (2023: 0%), is unsecured and is repayable upon demand.
7
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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