Orbis Software Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03704171 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

ORBIS SOFTWARE LIMITED

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Intangible assets

4

21,024

-

Tangible assets

5

80,679

107,039

101,703

107,039

Current assets

Debtors

6

569,094

556,162

Cash at bank and in hand

660,380

535,918

1,229,474

1,092,080

Creditors

Amounts falling due within one year

7

1,225,291

1,164,942

Net current assets/(liabilities)

4,183

(72,862

)

Total assets less current liabilities

105,886

34,177

Capital and reserves

Called up share capital

10

708

708

Share premium

83,819

83,819

Capital redemption reserve

388

388

Other reserves

(12,700

)

(12,700

)

Retained earnings

33,671

(38,038

)

Shareholders' funds

105,886

34,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2023 and were signed on its behalf by:

Mr M Lidster - Director

1.	Statutory information

Orbis Software Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03704171. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH.

2.	Accounting policies

Basis of preparing the financial statements

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

Turnover represents amounts receivable for goods and services provided in the period, net of VAT and trade discounts. Revenue is recognised for the sale of goods and services when the right to consideration in respect of the sale has been earned.

For fixed term contracts revenue is recognised on a time apportioned basis over the length of the contract. For support service 'labour' hours invoiced in advance the revenue recognised is derived from time spent on the contract as at the period end.

The directors believe these policies to accurately reflect the right to consideration, based on partial performance of contractual obligations.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. For Computer software, amortisation is over 5 years on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Straight line over 10 years

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 41 (2021 - 49 ) .

4.	Intangible fixed assets

Computer

software

£

Cost

At 1 October 2021

170,000

Additions

22,446

At 30 September 2022

192,446

Amortisation

At 1 October 2021

170,000

Amortisation for year

1,422

At 30 September 2022

171,422

Net book value

At 30 September 2022

21,024

At 30 September 2021

-

5.	Tangible fixed assets

Fixtures

Short

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 October 2021

140,349

297,635

9,000

446,984

Additions

-

43,922

-

43,922

Disposals

(138,022

)

(34,747

)

-

(172,769

)

Reclassification/transfer

(2,327

)

2,327

-

-

At 30 September 2022

-

309,137

9,000

318,137

Depreciation

At 1 October 2021

104,665

226,280

9,000

339,945

Charge for year

13,312

36,027

-

49,339

Eliminated on disposal

(117,279

)

(34,547

)

-

(151,826

)

Reclassification/transfer

(698

)

698

-

-

At 30 September 2022

-

228,458

9,000

237,458

Net book value

At 30 September 2022

-

80,679

-

80,679

At 30 September 2021

35,684

71,355

-

107,039

Fixed assets, included in the above, which are held under finance leases are as follows:

Fixtures

and

fittings

£

Cost

At 1 October 2021

63,247

Transfer to ownership

(63,247

)

At 30 September 2022

-

Depreciation

At 1 October 2021

37,948

Transfer to ownership

(37,948

)

At 30 September 2022

-

Net book value

At 30 September 2022

-

At 30 September 2021

25,299

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

442,994

460,211

Other debtors

45,130

42,644

Tax

30,054

30,963

Prepayments and accrued income

50,916

22,344

569,094

556,162

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Finance leases (see note 8)

-

1,757

Trade creditors

102,141

91,239

Social security and other taxes

164,039

228,130

VAT

50,357

74,848

Other creditors

16,781

12,316

Wages

138,931

128,801

Accruals and deferred income

753,042

627,851

1,225,291

1,164,942

8.	Leasing agreements

Minimum lease payments fall due as follows:

Finance leases

2022

2021

£

£

Net obligations repayable:

Within one year

-

1,757

Non-cancellable operating

leases

2022

2021

£

£

Within one year

26,756

27,654

Between one and five years

16,550

9,837

43,306

37,491

9.	Secured debts

The company is party to a debenture in favour of Barclays Bank PLC in respect of borrowings from the bank. All monies due or to become due to Barclays Banks PLC are secured by way of a fixed and floating charge over the company assets.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

708

Ordinary

£1

708

708

11.	Contingent liabilities

The company previously carried a liability of £67,345 in respect of a Directors Loan due to a former Director. This has been removed as a liability within creditors as it is not considered probable by the Directors that a liability exists, but as the timing and outcome is uncertain and subject to ongoing legal proceedings, it is now instead declared as a contingent liability.

12.	Ultimate controlling party

None of the shareholders of the company hold a majority interest and therefore no individual is deemed to exercise ultimate control.