Orderelite Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03288945 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2017

for

Orderelite Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Singh

Ms P Singh

Mrs P Singh

SECRETARY:

REGISTERED OFFICE:

7 Bankside

The Watermark

Gateshead

NE11 9SY

REGISTERED NUMBER:

03288945 (England and Wales)

ACCOUNTANTS:

Flannagans - Hartlepool office

Hub One, First Floor, Unit's 204 & 206

The Innovation Centre, Venture Court

Queens Meadow Business Park

Hartlepool

TS25 5TG

FIXED ASSETS

Tangible assets

4

1,630,654

2,278,660

CURRENT ASSETS

Debtors

5

22,425

64,425

Cash at bank and in hand

175,484

165,713

197,909

230,138

CREDITORS

Amounts falling due within one year

6

425,647

822,733

NET CURRENT LIABILITIES

(227,738

)

(592,595

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,402,916

1,686,065

CREDITORS

Amounts falling due after more than one year

7

362,681

1,173,741

NET ASSETS

1,040,235

512,324

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,039,235

511,324

SHAREHOLDERS' FUNDS

1,040,235

512,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 31 August 2018 and were signed on its behalf by:

Ms P Singh - Director

1.	STATUTORY INFORMATION

Orderelite 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.

Freehold property

-

not provided

Computer equipment

-

33% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Computer

property

property

equipment

Totals

£

£

£

£

COST

At 1 December 2016

2,124,927

153,575

4,865

2,283,367

Disposals

(647,882

)

-

-

(647,882

)

At 30 November 2017

1,477,045

153,575

4,865

1,635,485

DEPRECIATION

At 1 December 2016

-

-

4,707

4,707

Charge for year

-

-

124

124

At 30 November 2017

-

-

4,831

4,831

NET BOOK VALUE

At 30 November 2017

1,477,045

153,575

34

1,630,654

At 30 November 2016

2,124,927

153,575

158

2,278,660

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

-

42,000

Other Debtors

22,425

22,425

22,425

64,425

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

70,429

8,481

Trade creditors

(1

)

-

Tax

132,612

18,078

Social security and other taxes

1,650

6,885

VAT

3,697

324

Directors' current accounts

215,460

787,465

Accrued expenses

1,800

1,500

425,647

822,733

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

70,429

8,481

Bank loans - 2-5 years

167,695

133,038

Bank loans more 5 yr by instal

124,557

661,539

Directors Loan More than 5 Yrs

-

370,683

362,681

1,173,741

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Directors Loan More than 5 Yrs

-

370,683

Repayable by instalments

Bank loans more 5 yr by instal

124,557

661,539

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

The Handelsbanken Loan is secured against the following properties:

2,4,6&8 Tower Street and 19 & 21 Church Square, Hartlepool.

2/3 Sandys Row, London

9.	RELATED PARTY DISCLOSURES

At the year end the company owes the estate of Dr A K Singh (deceased) the amount of £787,465.

This loan is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors.

The company's tax status is close company.