ORBIT (UNDERWRITING AGENCIES) LIMITED Accounts filed on 31-12-2015

ORBIT (UNDERWRITING AGENCIES) LIMITED - Company Information

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ORBIT (UNDERWRITING AGENCIES) LIMITED

Company Registration Number:
05285436 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01st January 2015

End date: 31st December 2015

SUBMITTED

Company Information
for the Period Ended 31st December 2015

Director:		Stuart Lowe
		Colin McMaster
		Andrew McKay
		Lisa Churchward
		Harbinder Bansal
		Lee Stevens



Company secretary:		Lee Stevens



Registered office:		8 The Courtyard
		707 Warwick Road

		Solihull
		West Midlands
		B91 3DA




Company Registration Number:		05285436 (England and Wales)

Abbreviated Balance sheet
As at 31st December 2015

	Notes	2015 £	2014 £
Fixed assets
Tangible assets:	4	140,149	121,775
Total fixed assets:		140,149	121,775
Current assets
Stocks:		2,457	1,511
Debtors:	5	3,271,167	2,271,180
Cash at bank and in hand:		996,348	1,033,178
Total current assets:		4,269,972	3,305,869
Creditors
Creditors: amounts falling due within one year	6	3,983,342	2,981,873
Net current assets (liabilities):		286,630	323,996
Total assets less current liabilities:		426,779	445,771
Creditors: amounts falling due after more than one year:		-	25,000
Provision for liabilities:	7	21,456	23,697
Total net assets (liabilities):		405,323	397,074

The notes form part of these financial statements

Abbreviated Balance sheet
As at 31st December 2015
continued

	Notes	2015 £	2014 £
Capital and reserves
Called up share capital:	8	151	51
Revaluation reserve:		50	50
Profit and Loss account:		405,122	396,973
Total shareholders funds:		405,323	397,074

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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 16 June 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Stuart Lowe
Status: Director
Name: Lee Stevens
Status: Director

The notes form part of these financial statements

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

1. Accounting 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 January 2015).

Turnover policy

Turnover represents the fees and commissions earned, within the ordinary activities of the company. Turnover is attributable to the one principal activity of the company and arose wholly within UK markets.

Tangible fixed assets depreciation policy

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Software 25% straight line Computer & Office Equipment 25% reducing balance Fixtures & Fittings 10% reducing balance Leasehold Property 11.11% straight line

Other accounting policies

Deferred Taxation Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. Leasing and hire purchase commitments Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

4. Tangible assets

	Total
Cost	£
At 01st January 2015:	293,429
Additions:	56,003
Disposals:	5,902
At 31st December 2015:	343,530
Depreciation
At 01st January 2015:	171,654
Charge for year:	33,506
On disposals:	1,779
At 31st December 2015:	203,381
Net book value
At 31st December 2015:	140,149
At 31st December 2014:	121,775

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

5. Debtors

	2015 £	2014 £
Trade debtors:	3,059,906	2,139,805
Other debtors:	86,893	18,789
Prepayments and accrued income:	124,368	112,586
Total:	3,271,167	2,271,180

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

6. Creditors: amounts falling due within one year

All amounts are due and payable within one year

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

8. Called up share capital

Allotted, called up and paid

Previous period			2014
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	51	1.00 1.00	51
Total share capital:			51

Current period			2015
Class	Number of shares	Nominal value per share	Total
Ordinary shares:	151	1.00 1.00	151
Total share capital:			151

Notes to the Abbreviated Accounts
for the Period Ended 31st December 2015

11. Related party disclosures

Name of the ultimate controlling party during the period:	Stuart Lowe
Name of related party:	Merlin Developments (UK) Ltd
Relationship:	Common control of Stuart Lowe
Description of the transaction:	Purchases made on a normal commercial basis
Balance at 01st January 2015	20,650
Balance at 31st December 2015	0

ORBIT (UNDERWRITING AGENCIES) LIMITED Accounts filed on 31-12-2015