ORBIT PORTSMOUTH LIMITED

ORBIT PORTSMOUTH LIMITED

ORBIT PORTSMOUTH LIMITED - Company Information

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ORBIT PORTSMOUTH LIMITED

Company Registration Number:
04363231 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2017

Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

ORBIT PORTSMOUTH LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2017

Balance sheet
Notes

ORBIT PORTSMOUTH LIMITED

Balance sheet

As at 31 March 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 2 1,474,722 1,478,059
Total fixed assets: 1,474,722 1,478,059
Current assets
Stocks: 0 0
Debtors: 0 2,853
Cash at bank and in hand: 96,191 85,421
Total current assets: 96,191 88,274
Creditors: amounts falling due within one year:   (159,259) (284,821)
Net current assets (liabilities): (63,068) (196,547)
Total assets less current liabilities: 1,411,654 1,281,512
Creditors: amounts falling due after more than one year: 3 (750,000) (715,000)
Total net assets (liabilities): 661,654 566,512
Capital and reserves
Called up share capital: 4 4
Other reserves: 593,766 593,766
Profit and loss account: 67,884 (27,258)
Shareholders funds: 661,654 566,512

The notes form part of these financial statements

ORBIT PORTSMOUTH LIMITED

Balance sheet statements

For the year ending 31 March 2017 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 September 2017
and signed on behalf of the board by:

Name: Richard Britten-Long
Status: Director

The notes form part of these financial statements

ORBIT PORTSMOUTH LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents net invoiced value of sales of services excluding value added tax

Tangible fixed assets and depreciation policy

No depreciation is provided on freehold property Depreciation on other assets is provided at the annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life

Valuation and information policy

Freehold land and buildings are valued as and when required

ORBIT PORTSMOUTH LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2017


2. Tangible Assets

Total
Cost £
At 01 April 2016 1,482,239
At 31 March 2017 1,482,239
Depreciation
At 01 April 2016 4,180
Charge for year 3,337
At 31 March 2017 7,517
Net book value
At 31 March 2017 1,474,722
At 31 March 2016 1,478,059

Cost or valuation at 31 March 2017 is represented byFreehold property . valuation in 2014 543,766Freehold property . valuation in 2015 50,000Cost of freehold property 856,234Plant and machinery . 32,239 ------------Total cost or valuation . 1,482,239 =========

ORBIT PORTSMOUTH LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2017

3. Creditors: amounts falling due after more than one year note


Bank loans . 1 -2 years . 86,000 . 86,000Bank loans 2-5 years . 664,000 . 629,000