ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activity2021-11-02false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13719416 2021-11-01 13719416 2021-11-02 2022-12-31 13719416 2020-11-02 2021-11-01 13719416 2022-12-31 13719416 c:Director1 2021-11-02 2022-12-31 13719416 d:FreeholdInvestmentProperty 2021-11-02 2022-12-31 13719416 d:FreeholdInvestmentProperty 2022-12-31 13719416 d:CurrentFinancialInstruments 2022-12-31 13719416 d:Non-currentFinancialInstruments 2022-12-31 13719416 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13719416 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13719416 d:ShareCapital 2022-12-31 13719416 d:RetainedEarningsAccumulatedLosses 2022-12-31 13719416 c:OrdinaryShareClass1 2021-11-02 2022-12-31 13719416 c:OrdinaryShareClass1 2022-12-31 13719416 c:FRS102 2021-11-02 2022-12-31 13719416 c:AuditExempt-NoAccountantsReport 2021-11-02 2022-12-31 13719416 c:FullAccounts 2021-11-02 2022-12-31 13719416 c:PrivateLimitedCompanyLtd 2021-11-02 2022-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13719416

ORANGE ASSETS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2022

ORANGE ASSETS LTD

REGISTERED NUMBER: 13719416

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022
Note		£

Fixed assets
Investment property	4		1,283,250
			1,283,250
Current assets
Cash at bank and in hand	5	2,172
		2,172
Creditors: amounts falling due within one year	6	(461,203)
Net current (liabilities)/assets			(459,031)
Total assets less current liabilities			824,219
Creditors: amounts falling due after more than one year	7		(840,304)

Net (liabilities)/assets			(16,085)

Capital and reserves
Called up share capital	8	150
Profit and loss account		(16,235)
		(16,085)

Page 1

ORANGE ASSETS LTD

REGISTERED NUMBER: 13719416

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

B Shah

Director

Date: 2 August 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

ORANGE ASSETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

1.	General information

Orange Assets Ltd is a private company, limited by shares, incorporated in England and Wales. Its registerested address is 83 Lavender Hill, London, SW11 5QL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

ORANGE ASSETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Employees

The average monthly number of employees, including directors, during the period was 3.

Page 4

ORANGE ASSETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

4.	Investment property

		Freehold investment property
		£
	Valuation
	Additions at cost	1,283,250
	At 31 December 2022	1,283,250

The 2022 valuations were made by the directors, on an open market value for existing use basis.

5.	Cash and cash equivalents
		2022
		£

	Cash at bank and in hand	2,172

6.	Creditors: Amounts falling due within one year
		2022
		£

	Bank loans	19,293
	Amounts owed to group undertakings	440,410
	Accruals and deferred income	1,500
		461,203

7.	Creditors: Amounts falling due after more than one year
		2022
		£

	Bank loans	840,304

Page 5

ORANGE ASSETS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2022

8.	Share capital
		2022
		£

		Allotted, called up and fully paid

		150 Ordinary shares of £1.00 each	150

During the period under review, 150 Ordinary shares was issued at par to form the capital base of the company

9.	Related party transactions
	The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.

10.	Controlling party

The ultimate parent company is Orange Holdco Ltd, a company incorporated in England and Wales.

Page 6