Orbis Consultancy Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10684303 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ORBIS CONSULTANCY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R L Contreras

Mrs J Contreras

REGISTERED OFFICE:

The Oaks

Oaks Lane

Boston Spa

Wetherby

West Yorkshire

LS23 6DS

REGISTERED NUMBER:

10684303 (England and Wales)

FIXED ASSETS

Tangible assets

4

964

1,631

Investments

5

8,062,791

8,259,353

8,063,755

8,260,984

CURRENT ASSETS

Debtors

6

16,654

-

Cash at bank and in hand

10,266

10,356

26,920

10,356

CREDITORS

Amounts falling due within one year

7

8,100,931

8,051,849

NET CURRENT LIABILITIES

(8,074,011

)

(8,041,493

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,256

)

219,491

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

(10,856

)

218,891

(10,256

)

219,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 December 2023 and were signed on its behalf by:

R L Contreras - Director

1.	STATUTORY INFORMATION

Orbis Consultancy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Going concern

The accounts have been prepared on a going concern basis on the strength of confirmation from the directors that they will continue to provide financial support by not seeking repayment of loan accounts due until other creditors have been paid in full.

Significant judgements and estimates

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies

No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions

The directors do not consider that any estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties. The company also holds financial instruments in the form of fixed asset investments recognised at fair value.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax

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

Fixed asset investments

Fixed asset investments comprise listed investments held at fair value and unlisted investments measured at cost less impairment. The gain/(loss) on revaluation of listed investments is recognised through the Income Statement. Investments listed on a recognised stock exchange are valued at the mid-market value at the balance sheet date

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2022

and 31 March 2023

2,944

DEPRECIATION

At 1 April 2022

1,313

Charge for year

667

At 31 March 2023

1,980

NET BOOK VALUE

At 31 March 2023

964

At 31 March 2022

1,631

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2022

8,259,353

Additions

42,665

Revaluations

(239,227

)

At 31 March 2023

8,062,791

NET BOOK VALUE

At 31 March 2023

8,062,791

At 31 March 2022

8,259,353

Cost or valuation at 31 March 2023 is represented by:

Other

investments

£

Valuation in 2023

5,071,408

Cost

2,991,383

8,062,791

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

16,654

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

6,217

-

Taxation and social security

236

236

Other creditors

8,094,478

8,051,613

8,100,931

8,051,849

8.	RELATED PARTY DISCLOSURES

The total amounts outstanding to the directors at the balance sheet date was £8,006,984 (2022: £8,004,464). The loans are interest free and repayable on demand.