Orderpower Limited - Accounts to registrar (filleted) - small 18.2
Orderpower Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2020 |
| for |
| Orderpower Limited |
| Orderpower Limited (Registered number: 01512533) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Orderpower Limited |
| Company Information |
| for the Year Ended 31 August 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Oriel House |
| 2-8 Oriel Road |
| Bootle |
| Liverpool |
| Merseyside |
| L20 7EP |
| Orderpower Limited (Registered number: 01512533) |
| Balance Sheet |
| 31 August 2020 |
| 31.8.20 | 31.8.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Orderpower Limited (Registered number: 01512533) |
| Balance Sheet - continued |
| 31 August 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Orderpower Limited (Registered number: 01512533) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2020 |
| 1. | STATUTORY INFORMATION |
| Orderpower Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net rents & management fees receivable and sales of services, excluding value added tax. Revenue is recognised when the service is provided. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Plant & Machinery 25% Reducing balance |
| Fixtures & Fittings 25% Reducing balance |
| Motor Vehicles 25% Reducing balance |
| Office Equipment 33% Straight line |
| Investment property |
| Investment property is shown at most recent valuation. The directors of the company revalue the properties annually on the basis of housing price index movements from the date of the last professional valuation to the balance sheet date. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Orderpower Limited (Registered number: 01512533) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2019 |
| Disposals | ( |
) | ( |
) |
| At 31 August 2020 |
| DEPRECIATION |
| At 1 September 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2019 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2020 |
| NET BOOK VALUE |
| At 31 August 2020 |
| At 31 August 2019 |
| Orderpower Limited (Registered number: 01512533) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2020 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 August 2020 is represented by: |
| £ |
| Valuation in 2008 | 772,777 |
| Valuation in 2014 | (505,548 | ) |
| Valuation in 2018 | 125,000 |
| Valuation in 2020 | (55,081 | ) |
| Cost | 1,630,924 |
| 1,968,072 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Cost | 1,630,924 | 1,562,771 |
| The investment properties were valued on an open market basis on 31 August 2020 by the directors . |
| The directors have reviewed the valuation of investment property and consider that the valuation above reflects the market value for the year as shown above. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Bank loans |
| Orderpower Limited (Registered number: 01512533) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2020 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.8.20 | 31.8.19 |
| £ | £ |
| Bank loans |
| The bank loans are secured by a legal mortgage over the properties to which they relate and by way of fixed charge over any other assets attached to the properties. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.20 | 31.8.19 |
| value: | £ | £ |
| Ordinary | £1 | 96,770 | 96,770 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 September 2019 |
| Revaluation in year | (55,081 | ) |
| At 31 August 2020 |