Abbreviated Company Accounts - ORLANDO REID LIMITED

Abbreviated Company Accounts - ORLANDO REID LIMITED

ORLANDO REID LIMITED - Company Information

Print Friendly Version

Registered Number 07176976

ORLANDO REID LIMITED

Abbreviated Accounts

31 December 2015

ORLANDO REID LIMITED Registered Number 07176976

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 18,350 5,253
18,350 5,253
Current assets
Debtors 19,598 1,614
Cash at bank and in hand 1,576 3,565
21,174 5,179
Creditors: amounts falling due within one year (42,632) (27,442)
Net current assets (liabilities) (21,458) (22,263)
Total assets less current liabilities (3,108) (17,010)
Creditors: amounts falling due after more than one year (5,689) -
Total net assets (liabilities) (8,797) (17,010)
Capital and reserves
Called up share capital 3 1,000 1,000
Profit and loss account (9,797) (18,010)
Shareholders' funds (8,797) (17,010)
  • For the year ending 31 December 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 May 2016

And signed on their behalf by:
Jack Reid, Director

ORLANDO REID LIMITED Registered Number 07176976

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold properties - Straight line over the life of the lease
Plant and machinery - 25% Reducing Balance
Fixtures, fittings and equipment - 20% Reducing Balance

Other accounting policies
Going concern
At the balance sheet date the liabilities of the company exceeded its assets by £8,797. The accounts have been drawn up on the going concern basis on the assumption that the support of the directors and creditors will continue for the foreseeable future.

2Tangible fixed assets
£
Cost
At 1 January 2015 12,047
Additions 18,436
Disposals -
Revaluations -
Transfers -
At 31 December 2015 30,483
Depreciation
At 1 January 2015 6,794
Charge for the year 5,339
On disposals -
At 31 December 2015 12,133
Net book values
At 31 December 2015 18,350
At 31 December 2014 5,253
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
1,000 Ordinary shares of £1 each 1,000 1,000

4Transactions with directors

Name of director receiving advance or credit: Jack Reid
Description of the transaction: Advances to directors
Balance at 1 January 2015: £ 765
Advances or credits made: £ 8,719
Advances or credits repaid: -
Balance at 31 December 2015: £ 9,484
Name of director receiving advance or credit: Baljit Arora
Description of the transaction: Advances to directors
Balance at 1 January 2015: £ 765
Advances or credits made: £ 8,709
Advances or credits repaid: -
Balance at 31 December 2015: £ 9,474