Company Registration No. 7128554 (England and Wales)
ORANGE HOUSE CONSTRUCTION LIMITED
Unaudited accounts
for the year ended 31 March 2017
ORANGE HOUSE CONSTRUCTION LIMITED
Statement of financial position
as at 31 March 2017
Tangible assets
31,254
5,886
Cash at bank and in hand
34,576
16,355
Creditors: amounts falling due within one year
(28,995)
(26,537)
Net current assets
28,192
11,208
Total assets less current liabilities
59,446
17,094
Creditors: amounts falling due after more than one year
(23,208)
(8,231)
Called up share capital
2
2
Profit and loss account
36,236
8,861
Shareholders' funds
36,238
8,863
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 director acknowledges his 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 the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 September 2017.
D Jones
Director
Company Registration No. 7128554
ORANGE HOUSE CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 March 2017
ORANGE HOUSE CONSTRUCTION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 7128554. The registered office is 101 Church Road, Leckhampton, Cheltenham, GL53 0PF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight line
Motor vehicles
20% Straight line
Fixtures & fittings
25% Straight line
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
ORANGE HOUSE CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 March 2017
Leased and hire purchase assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised 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 rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
Charge for the year
11,847
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
7
Average number of employees
During the year the average number of employees was 0 (2016: 0).
