ORCHARD (STAMFORD) LIMITED
ORCHARD (STAMFORD) LIMITED
Registered number: 07147004
Unaudited Financial Statements
For The Year Ended
30 September 2021
Brooks & Partners Accountants Ltd
ORCHARD (STAMFORD) LIMITED
Unaudited Financial Statements
For The Year Ended
30 September 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—7 |
ORCHARD (STAMFORD) LIMITED
Statement of Financial Position
As at
30 September 2021
Statement of Financial Position
Registered number:
07147004
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 30 September 2021 | 30 September 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 11 |
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| Income Statement |
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| SHAREHOLDERS' FUNDS | (545,822) | (70,119) | |||
ORCHARD (STAMFORD) LIMITED
Statement of Financial Position (continued)
As at
30 September 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 3 to 7 form part of these financial statements.
ORCHARD (STAMFORD) LIMITED
Notes to the Financial Statements
For The Year Ended
30 September 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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 is reduced for customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has been invoiced for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 20 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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1.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
1.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
ORCHARD (STAMFORD) LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2021
1.8.
Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 19 (2020: 24)
3.
Intangible Assets
| Goodwill | |||
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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ORCHARD (STAMFORD) LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2021
4.
Tangible Assets
| Plant & Machinery | |
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| £ | |
| Cost | |
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| Additions |
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| Depreciation | |
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| Provided during the period |
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| Net Book Value | |
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5.
Stocks
| 30 September 2021 | 30 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - materials |
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6.
Debtors
| 30 September 2021 | 30 September 2020 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Amounts owed by other participating interests | 27,843 | 2,051 | |
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ORCHARD (STAMFORD) LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2021
7.
Creditors: Amounts Falling Due Within One Year
| 30 September 2021 | 30 September 2020 | ||
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| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| VAT |
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| Net wages | - | 208 | |
| Other creditors |
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| Accruals and deferred income |
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| Director's loan account | - |
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| Amounts owed to associates |
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| Amounts owed to other participating interests | 147,351 | - | |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 30 September 2021 | 30 September 2020 | ||
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| £ | £ | ||
| Bank loans |
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9.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 30 September 2021 | 30 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Other Creditors | 22,000 | - |
ORCHARD (STAMFORD) LIMITED
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2021
10.
Obligations Under Finance Leases and Hire Purchase
| 30 September 2021 | 30 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| The maturity of these amounts is as follows: | |||
| Amounts Payable: | |||
| Within one year |
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12.
Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £2,142 (2020: £2,356) were due to the fund. They are included in Other Creditors.
13.
Related Party Transactions
At the year end the company was owed £27,843 (2020: £2,051) from companies under common control.
This loan is unsecured, interest free and repayable on demand.
At the year end the company owed £147,351 (2020: Nil) to companies under common control.
This loan is unsecured, interest free and repayable on demand.
14.
General Information
ORCHARD (STAMFORD) LIMITED
is a private company, limited by shares, incorporated in England & Wales, registered number
07147004
. The registered office is Unit 44 Ryhall Road Industrial Estate, Gwash Way, Stamford, PE9 1XP.