Oroso Limited - Period Ending 2014-10-31

Registration number: SC331761

Oroso Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Glen Drummond Limited
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Oroso Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Oroso Limited
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oroso Limited for the year ended 31 October 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. 2 to 4

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Oroso Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oroso Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Institue of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oroso Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oroso Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Oroso Limited. You consider that Oroso Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oroso Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

......................................

Glen Drummond Limited
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

31 July 2015

Page 1

Oroso Limited
(Registration number: SC331761)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					632,311			633,129
Current assets
Stocks					107,638			107,638
Debtors					6,062			11,789
Cash at bank and in hand					869			730
					114,569			120,157
Creditors: Amounts falling due within one year					(424,219)			(426,470)
Net current liabilities					(309,650)			(306,313)
Total assets less current liabilities					322,661			326,816
Creditors: Amounts falling due after more than one year					(343,774)			(346,046)
Net liabilities					(21,113)			(19,230)
Capital and reserves
Called up share capital		4			1			1
Profit and loss account					(21,114)			(19,231)
Shareholders' deficit					(21,113)			(19,230)

For the year ending 31 October 2014 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

Approved by the director on 31 July 2015

.........................................
Mr Richard Thomas
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Oroso Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2013		634,561			634,561
At 31 October 2014		634,561			634,561
Depreciation
At 1 November 2013		1,432			1,432
Charge for the year		818			818
At 31 October 2014		2,250			2,250
Net book value
At 31 October 2014		632,311			632,311
At 31 October 2013		633,129			633,129

3

Creditors

Included in the creditors are the following amounts due after more than five years:

Page 3

Oroso Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

		2014 £			2013 £
After more than five years by instalments		343,774			346,046

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Share Capital of £1 each		1			1			1			1

Page 4