Orpheus Software Ventures Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09147362 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2016

for

Orpheus Software Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S D Storey

B C Gower

REGISTERED OFFICE:

Nicholsons House

Nicholsons Walk

Maidenhead

Berkshire

SL6 1LD

REGISTERED NUMBER:

09147362 (England and Wales)

ACCOUNTANTS:

Clay Knox Ltd

Clay Barn

Ipsley Court

Berrington Close

Redditch

Worcestershire

B98 0TJ

FIXED ASSETS

Tangible assets

4

3,322

2,724

CURRENT ASSETS

Debtors

5

158,498

146,875

Cash at bank

90,839

51,591

249,337

198,466

CREDITORS

Amounts falling due within one year

6

72,312

79,191

NET CURRENT ASSETS

177,025

119,275

TOTAL ASSETS LESS CURRENT LIABILITIES

180,347

121,999

CAPITAL AND RESERVES

Called up share capital

7

103

102

Retained earnings

8

180,244

121,897

SHAREHOLDERS' FUNDS

180,347

121,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 28 September 2017 and were signed on its behalf by:

P S D Storey - Director

1.	STATUTORY INFORMATION

Orpheus Software Ventures 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Plant and machinery etc

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2015

3,632

Additions

1,643

At 31 July 2016

5,275

DEPRECIATION

At 1 August 2015

908

Charge for year

1,045

At 31 July 2016

1,953

NET BOOK VALUE

At 31 July 2016

3,322

At 31 July 2015

2,724

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by participating interests

14,000

10,000

Other debtors

144,498

136,875

158,498

146,875

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

-

25,380

Taxation and social security

60,626

51,311

Other creditors

11,686

2,500

72,312

79,191

Included in other creditors is £5,000 (2015 - £2,500) in relation to accruals and deferred income.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

99

Ordinary

£1

99

99

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

-

103

102

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary D

£1

1

-

The following shares were issued during the year for cash at par :

1 Ordinary D share of £1

8.

RESERVES

Retained

earnings

£

At 1 August 2015

121,897

Profit for the year

341,689

Dividends

(283,342

)

At 31 July 2016

180,244

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 July 2016 and the period ended

31 July 2015:

2016

2015

£

£

P S D Storey

Balance outstanding at start of year

86,728

-

Amounts advanced

159,766

195,402

Amounts repaid

(233,391

)

(108,674

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,103

86,728

B C Gower

Balance outstanding at start of year

42,455

-

Amounts advanced

223,963

111,707

Amounts repaid

(138,951

)

(69,252

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

127,467

42,455

Interest has been charged on any overdrawn balances at a rate of 3% per HMRC guidelines. The total interest charged

during the year is £3,841 (2015 - £1,320).

10.	RELATED PARTY DISCLOSURES

During the period a loan existed between the company and Kiss Technology Ltd. A company related by virtue of P S D

Storey and B C Gower also being directors of Kiss Technology Ltd. At the balance sheet date £9,000 (2015: £nil) was owed

by the company. No interest is charged in respect of this loan.

During the period a loan existed between the company and SFG Property LLP. A partnership related by virtue of P S D

Storey and B C Gower both being designated members of the partnership. At the balance sheet date £5,000 (2015:

£10,000) was owed by the company. No interest is charged in respect of this loan.

During the period sales of £575,130 (2015: £515,531) were made to 1 Cover Pty Ltd. A company related by virtue of P S D

Storey and B C Gower also being directors of 1 Cover Pty Ltd.

During the period sales of £74,560 (2015: £44,198) were made to 1 Cover NZ Ltd. A company related by virtue of P S D

Storey and B C Gower both being directors of 1 Cover NZ Ltd.