Orchid Risk Management Limited - Accounts to registrar (filleted) - small 23.2.5
Orchid Risk Management Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
| FOR |
| ORCHID RISK MANAGEMENT LIMITED |
| ORCHID RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08972821) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 2 |
| ORCHID RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08972821) |
| BALANCE SHEET |
| 31 MARCH 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 7 |
| Net assets |
| Capital and reserves |
| Called up share capital | 8 |
| Retained earnings |
| Shareholders' funds |
| 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. |
| 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 director and authorised for issue on |
| ORCHID RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08972821) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 1. | Statutory information |
| Orchid Risk Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08972821. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is Sleight House, Sleight Lane, Corfe Mullen, Wimborne, Dorset, BH21 3HL. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer. |
| Tangible fixed assets |
| Improvements to property | - |
| Motor vehicles | - |
| Weaponry | - |
| Computer equipment | - |
| 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. |
| 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. |
| 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. |
| ORCHID RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08972821) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Improvements |
| to | Motor | Computer |
| property | vehicles | Weaponry | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1 April 2022 |
| Additions |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| 5. | Debtors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Directors' current accounts | - | 295 |
| Deferred tax asset |
| Accrued income |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| VAT | 4,620 | 9,798 |
| Directors' current accounts | 326 | - |
| Accruals and deferred income |
| 7. | Provisions for liabilities |
| 2022 |
| £ |
| Deferred tax |
| Accelerated capital allowances |
| Tax losses carried forward | ( |
) |
| 396 |
| ORCHID RISK MANAGEMENT LIMITED (REGISTERED NUMBER: 08972821) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| 7. | Provisions for liabilities - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2022 |
| Accelerated capital allowances | (92 | ) |
| Tax losses | (7,016 | ) |
| Balance at 31 March 2023 | ( |
) |
| 8. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | Director's advances, credits and guarantees |
| The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 10. | Ultimate controlling party |
| Mr M Wood, the director, owns an aggregate of 100% of the voting share capital together with his spouse, therefore he is deemed to control the company. |