Company Registration No. 03426218 (England and Wales)
Project Orange Limited
Unaudited accounts
for the year ended 31 August 2023
Project Orange Limited
Unaudited accounts
Contents
Project Orange Limited
Company Information
for the year ended 31 August 2023
Directors
C. D. Ash
J. M. M. Soane
Company Number
03426218 (England and Wales)
Registered Office
Orange Cottage Prentice Street,
Lavenham
Sudbury
England
CO10 9RD
Project Orange Limited
Statement of financial position
as at 31 August 2023
Tangible assets
33,642
47,652
Cash at bank and in hand
444,749
256,338
Creditors: amounts falling due within one year
(63,473)
(40,490)
Net current assets
1,353,896
1,187,430
Total assets less current liabilities
1,387,538
1,235,082
Provisions for liabilities
Deferred tax
(6,392)
(9,053)
Net assets
1,381,146
1,226,029
Called up share capital
100
100
Profit and loss account
1,381,046
1,225,929
Shareholders' funds
1,381,146
1,226,029
For the year ending 31 August 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by
C. D. Ash
Director
Company Registration No. 03426218
Project Orange Limited
Notes to the Accounts
for the year ended 31 August 2023
Project Orange Limited is a private company, limited by shares, registered in England and Wales, registration number 03426218. The registered office is Orange Cottage Prentice Street, , Lavenham, Sudbury, England, CO10 9RD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
17% Straight line
Fixtures & fittings
25% Straight line
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
96,935
140,153
1,416
238,504
Disposals
(35,930)
(111,581)
-
(147,511)
At 31 August 2023
61,005
28,572
7,013
96,590
At 1 September 2022
57,331
133,167
354
190,852
Charge for the year
10,711
7,143
1,753
19,607
On disposals
(35,930)
(111,581)
-
(147,511)
At 31 August 2023
32,112
28,729
2,107
62,948
At 31 August 2023
28,893
(157)
4,906
33,642
At 31 August 2022
39,604
6,986
1,062
47,652
Project Orange Limited
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Trade debtors
81,155
80,117
Amounts due from group undertakings etc.
878,056
878,056
Accrued income and prepayments
12,953
12,953
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
11,050
10,833
Taxes and social security
32,430
6,140
Loans from directors
445
445
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
8
Transactions with related parties
At the balance sheet date £878,056 was due from its parent company.
The parent company is Fifty Fifty Holdings Limited, a company incorporated in England and Wales
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Average number of employees
During the year the average number of employees was 6 (2022: 8).
