Company Registration No. 04363231 (England and Wales)
Orbit Portsmouth Limited
Unaudited accounts
for the year ended 31 March 2021
Orbit Portsmouth Limited
Unaudited accounts
Contents
Orbit Portsmouth Limited
Company Information
for the year ended 31 March 2021
Director
Richard Michael Britten Long
Company Number
04363231 (England and Wales)
Registered Office
THE WICHENFORD ESTATE OFFICE,
THE HILL FARM
WICHENFORD
WORCESTER
WR6 6YY
United Kingdom
Orbit Portsmouth Limited
Statement of financial position
as at 31 March 2021
Tangible assets
1,461,374
1,496,301
Cash at bank and in hand
49,556
93,117
Creditors: amounts falling due within one year
(198,089)
(169,591)
Net current assets
158,982
69,183
Total assets less current liabilities
1,620,356
1,565,484
Creditors: amounts falling due after more than one year
(760,494)
(785,746)
Net assets
859,862
779,738
Called up share capital
4
4
Revaluation reserve
593,766
593,766
Profit and loss account
266,092
185,968
Shareholders' funds
859,862
779,738
For the year ending 31 March 2021 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.
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 31 January 2022 and were signed on its behalf by
Richard Michael Britten Long
Director
Company Registration No. 04363231
Orbit Portsmouth Limited
Notes to the Accounts
for the year ended 31 March 2021
Orbit Portsmouth Limited is a private company, limited by shares, registered in England and Wales, registration number 04363231. The registered office is THE WICHENFORD ESTATE OFFICE,, THE HILL FARM, WICHENFORD, WORCESTER, WR6 6YY, United Kingdom.
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.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
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.
3
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 April 2020
1,450,000
159,746
1,609,746
At 31 March 2021
1,450,000
159,746
1,609,746
At 1 April 2020
-
113,445
113,445
Charge for the year
-
34,927
34,927
At 31 March 2021
-
148,372
148,372
At 31 March 2021
1,450,000
11,374
1,461,374
At 31 March 2020
1,450,000
46,301
1,496,301
Orbit Portsmouth Limited
Notes to the Accounts
for the year ended 31 March 2021
4
Debtors: amounts falling due within one year
2021
2020
Debtors: amounts falling due after more than one year
Trade debtors
76,870
5,512
Other debtors
230,645
140,145
5
Creditors: amounts falling due within one year
2021
2020
Trade creditors
23,955
24,041
Taxes and social security
21,368
37,133
Other creditors
152,766
108,417
6
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
610,494
635,746
Other creditors
150,000
150,000
The ultimate controlling party is Elementiata Securities Limited.
8
Average number of employees
During the year the average number of employees was 0 (2020: 1).
