Orbit Design Studio Limited - Limited company accounts 11.4

REGISTERED NUMBER: 05056736 (England and Wales)

Report of the Director and

Unaudited Financial Statements For The Year Ended 31 January 2014

for

Orbit Design Studio Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

C Redpath-Jones

SECRETARY:

Gower Secretaries Limited

REGISTERED OFFICE:

Third Floor

15 Poland Street

London

W1F 8QE

REGISTERED NUMBER:

05056736 (England and Wales)

ACCOUNTANTS:

Gower Accountancy

Third Floor

15 Poland Street

London

W1F 8QE

The director presents his report with the financial statements of the company for the year ended 31 January 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an Interior Design for major Corporations.

DIRECTOR

C Redpath-Jones held office during the whole of the period from 1 February 2013 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

C Redpath - Jones - Director

7 August 2014

TURNOVER

2,056,641

1,169,097

Cost of sales

(1,616,713

)

(831,195

)

GROSS PROFIT

439,928

337,902

Administrative expenses

(393,581

)

(305,077

)

OPERATING PROFIT

2

46,347

32,825

Interest receivable and similar income

149

111

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

46,496

32,936

Tax on profit on ordinary activities

3

(9,849

)

(5,548

)

PROFIT FOR THE FINANCIAL YEAR

36,647

27,388

FIXED ASSETS

Tangible assets

4

8,876

9,777

CURRENT ASSETS

Debtors

5

498,618

123,272

Prepayments and accrued income

6,848

4,332

Cash at bank

323,642

331,139

829,108

458,743

CREDITORS

Amounts falling due within one year

6

(672,404

)

(339,587

)

NET CURRENT ASSETS

156,704

119,156

TOTAL ASSETS LESS CURRENT
LIABILITIES

165,580

128,933

CAPITAL AND RESERVES

Called up share capital

7

100

Other reserves

8

-

1,854

Profit and loss account

8

165,480

126,979

SHAREHOLDERS' FUNDS

165,580

128,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 7 August 2014 and were signed by:

C Redpath - Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the annual rate of 33.33% in order to write off each asset over iits estimated useful

life

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2014

2013

£

Depreciation - owned assets

5,586

5,374

Foreign exchange differences

15,808

4,917

Director's remuneration and other benefits etc

22,388

22,744

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

9,849

5,548

Tax on profit on ordinary activities

9,849

5,548

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2013

42,156

Additions

4,685

At 31 January 2014

46,841

DEPRECIATION

At 1 February 2013

32,379

Charge for year

5,586

At 31 January 2014

37,965

NET BOOK VALUE

At 31 January 2014

8,876

At 31 January 2013

9,777

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

422,439

119,182

Other debtors

76,179

4,090

498,618

123,272

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Payments on account

8,591

-

Trade creditors

237,653

169,198

Taxation and social security

202,680

124,600

Other creditors

223,480

45,789

672,404

339,587

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

2

Ordinary Shares

1.00

100

8.

RESERVES

Profit

and loss

account

£

At 1 February 2013

128,833

Profit for the year

36,647

At 31 January 2014

165,480