Orientrose Contracts Limited Filleted accounts for Companies House (small and micro)

ORIENTROSE CONTRACTS LIMITED - Company Information

18 false false false false false false false false false true false false false false true true No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 04455782 2020-01-01 2020-12-31 04455782 2020-12-31 04455782 2019-12-31 04455782 2019-01-01 2019-12-31 04455782 2019-12-31 04455782 bus:Director1 2020-01-01 2020-12-31 04455782 core:LandBuildings core:OwnedOrFreeholdAssets 2019-12-31 04455782 core:FurnitureFittings 2019-12-31 04455782 core:MotorVehicles 2019-12-31 04455782 core:LandBuildings core:OwnedOrFreeholdAssets 2020-12-31 04455782 core:FurnitureFittings 2020-12-31 04455782 core:MotorVehicles 2020-12-31 04455782 core:LandBuildings core:OwnedOrFreeholdAssets 2020-01-01 2020-12-31 04455782 core:FurnitureFittings 2020-01-01 2020-12-31 04455782 core:MotorVehicles 2020-01-01 2020-12-31 04455782 core:WithinOneYear 2020-12-31 04455782 core:WithinOneYear 2019-12-31 04455782 core:ShareCapital 2020-12-31 04455782 core:ShareCapital 2019-12-31 04455782 core:CapitalRedemptionReserve 2020-12-31 04455782 core:CapitalRedemptionReserve 2019-12-31 04455782 core:RetainedEarningsAccumulatedLosses 2020-12-31 04455782 core:RetainedEarningsAccumulatedLosses 2019-12-31 04455782 core:LandBuildings core:OwnedOrFreeholdAssets 2019-12-31 04455782 core:FurnitureFittings 2019-12-31 04455782 core:MotorVehicles 2019-12-31 04455782 bus:SmallEntities 2020-01-01 2020-12-31 04455782 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 04455782 bus:FullAccounts 2020-01-01 2020-12-31 04455782 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 04455782 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31

COMPANY REGISTRATION NUMBER: 04455782

Orientrose Contracts Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2020

Orientrose Contracts Limited

Statement of Financial Position

31 December 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	5		76,244		104,078

Current assets

Debtors	6	611,762	1,538,133
Cash at bank and in hand		334,284	4,120,549
		---------	------------
		946,046	5,658,682

Creditors: amounts falling due within one year	7	878,559		2,115,254
		---------		------------
Net current assets			67,487		3,543,428
			---------		------------
Total assets less current liabilities			143,731		3,647,506
			---------		------------

Capital and reserves

Called up share capital	50,702	50,702
Capital redemption reserve	49,358	49,358
Profit and loss account	43,671	3,547,446
	---------	------------
Shareholders funds	143,731	3,647,506
	---------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Orientrose Contracts Limited

Statement of Financial Position (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 24 September 2021 , and are signed on behalf of the board by:

Mrs A Wilson

Director

Company registration number: 04455782

Orientrose Contracts Limited

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Vantage Park, Washingley Road, Huntingdon, Cambridgeshire, PE29 6SR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the value of work done during the year, exclusive of Value Added Tax. Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value. Revenue from work done is measured by reference to the stage of completion of the contract at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Improvements to property	-	straight line over lease term
Fixtures & fittings	-	25% per annum straight line
Motor vehicles	-	25% per annum straight line

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Pensions

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 18 (2019: 28 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2020	25,619	59,965	223,224	308,808
Additions	1,825	5,835	–	7,660
Disposals	–	–	( 75,317)	( 75,317)
	--------	--------	---------	---------
At 31 December 2020	27,444	65,800	147,907	241,151
	--------	--------	---------	---------
Depreciation
At 1 January 2020	23,222	49,256	132,252	204,730
Charge for the year	1,735	4,158	29,600	35,493
Disposals	–	–	( 75,316)	( 75,316)
	--------	--------	---------	---------
At 31 December 2020	24,957	53,414	86,536	164,907
	--------	--------	---------	---------
Carrying amount
At 31 December 2020	2,487	12,386	61,371	76,244
	--------	--------	---------	---------
At 31 December 2019	2,397	10,709	90,972	104,078
	--------	--------	---------	---------

Land and buildings comprise short leasehold property improvements .

6. Debtors

	2020	2019
	£	£
Trade debtors	550,185	1,450,899
Other debtors	61,577	87,234
	---------	------------
	611,762	1,538,133
	---------	------------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	236,429	524,434
Social security and other taxes	103,430	407,069
Other creditors	538,700	1,183,751
	---------	------------
	878,559	2,115,254
	---------	------------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases amount to £42,921 (2019: £74,155).