| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| for |
| Orbic Bearings Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2025 |
| for |
| Orbic Bearings Limited |
| Orbic Bearings Limited (Registered number: 01908580) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Orbic Bearings Limited |
| Company Information |
| for the Year Ended 31 July 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Airport House |
| Suite 43-45 |
| Purley Way |
| Croydon |
| CR0 0XZ |
| Orbic Bearings Limited (Registered number: 01908580) |
| Balance Sheet |
| 31 July 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Current assets |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Revaluation reserve | 11 |
| Retained earnings |
| Orbic Bearings Limited (Registered number: 01908580) |
| Balance Sheet - continued |
| 31 July 2025 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2025 |
| 1. | STATUTORY INFORMATION |
| Orbic Bearings Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal activity of the company was that of suppliers of industrial bearings and power transmission units. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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. |
| TURNOVER |
| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
| INTANGIBLE ASSETS |
| Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. |
| Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. |
| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Computer software 10 Years |
| TANGIBLE FIXED ASSETS |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Fixtures, fittings & equipments | Computer equipments - 25% on cost |
| Office equipments, fixtures & fittings - 20% on cost |
| Motor vehicles | 20% on cost |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| FINANCIAL INSTRUMENTS |
| The company only enters into basic financial instrument transactions that results in the recognition od financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares. |
| TAXATION |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| CURRENT TAX |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
| LEASING COMMITMENTS |
| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed. |
| LEASED ASSETS |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
| GOING CONCERN |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| PROVISION FOR LIABILITIES |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the Statement of comprehensive income in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| PENSION |
| DEFINE CONTRIBUTION PENSION PLAN |
| The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution into separate entity. Once the contributions have been paid the Company has no further payment obligations. |
| The contributions are recognised as an expense in the statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Computer |
| software |
| £ |
| COST |
| At 1 August 2024 |
| and 31 July 2025 |
| AMORTISATION |
| At 1 August 2024 |
| Amortisation for year |
| At 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| Freehold | fittings | Motor |
| property | & equipment | vehicles | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 August 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 July 2025 |
| DEPRECIATION |
| At 1 August 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| The fair value of the Land and buildings has been arrived at on an open market basis by the directors of the company. Land and buildings with a carrying amount of £500,000, this valuation represents the fair value as at the 31 July 2025. |
| Cost or valuation at 31 July 2025 is represented by: |
| Freehold property |
| £ |
| Revaluation in 1986 | 152,557 |
| Revaluation in 2017 | 60,000 |
| Revaluation in 2018 | 95,000 |
| Revaluation in 2021 | 70,000 |
| Revaluation in 2022 | 50,000 |
| Cost | 72,443 |
| 500,000 |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 August 2024 |
| and 31 July 2025 |
| NET BOOK VALUE |
| At 31 July 2025 |
| At 31 July 2024 |
| The investments are shown at cost at the balance sheet date. The director is of the opinion that there has been no material change in value. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| The directors consider the carrying value of trade and other receivables approximate to their fair value. |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The directors consider the carrying amounts of current liabilities approximate to their fair values. |
| Legal Mortgage charge at Companies House has been registered by Barclays Bank PLC for the loan taken by company, which has fixed and floating charges over the trade fixtures & freehold property. |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 10) |
| The directors consider the carrying amounts of long term liabilities approximate to their fair values. |
| Legal Mortgage charge at Companies House has been registered by Barclays Bank PLC for the loan taken by company, which has fixed and floating charges over the trade fixtures & freehold property. |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | RESERVES |
| PROFIT AND LOSS RESERVES |
| The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. |
| Orbic Bearings Limited (Registered number: 01908580) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2025 |
| 12. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £4,160 (2024 - £5,113). |
| The Company makes gross contributions to the directors personal defined contribution pension scheme that are charged to the profit and loss account in the period when they are paid. During the year the company made £25,284 (2024 - £26,084) contributions to the directors personal defined contribution pension scheme. |
| 13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2025 and 31 July 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 14. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, included in other creditors are amounts due to the directors of £86 (2024 - £48,969 included in other debtors). This loan is interest free and repayable on demand. |