Orbitec Ltd - Accounts to registrar - small 17.2
Orbitec Ltd - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| ORBITEC LTD |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ORBITEC LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| BALANCE SHEET |
| 31 DECEMBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on behalf by: |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 1. | STATUTORY INFORMATION |
| Orbitec Ltd is a |
| company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in accordance with applicable United Kingdom Accounting |
| Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied |
| consistently (except as otherwise stated). |
| Turnover |
| Turnover represents net invoiced sales of goods and services, net of value added tax and trade |
| discounts. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| 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. |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
| period of the lease. |
| 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. |
| Debtors and creditors |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and |
| loss account in other administrative expenses. |
| Employee benefits |
| When employees have rendered service to the company, short-term employee benefits to which the |
| employees are entitled are recognised at the undiscounted amount expected to be paid in exchange |
| for that service. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| The net book value of tangible fixed assets includes £- (2015 - £3,719) in respect of assets held |
| under finance leases or hire purchase contracts. The depreciation charge in respect of such assets |
| amounted to £3,719 (2015 - £3,719) for the year. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Finance leases |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Finance leases |
| ORBITEC LTD (REGISTERED NUMBER: 05052967) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2016 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary shares | £1 | 100 | 100 |
| 9. | RELATED PARTY DISCLOSURES |
| K Hennah |
| Director |
| Included in other creditors due within one year is an amount due to the director. The loan is interest |
| free and repayable on demand. |
| 2016 | 2015 |
| £ | £ |
| Amount due to related party at the balance sheet date | 40,718 | 49,170 |
| 10. | CONTROL |
| The controlling party is K Hennah. |
| 11. | FIRST YEAR ADOPTION |
| This is the first year that the company has presented it's results under FRS102. The last financial |
| statements prepared under the previous UK GAAP were for the year ended 31 December 2016. |