Orbit Distribution Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04070240 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 31 May 2015

for

Orbit Distribution Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr D M Letori

Mr G G Bell

Mr R P Fox

SECRETARY:

Mr D M Letori

REGISTERED OFFICE:

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

REGISTERED NUMBER:

04070240 (England and Wales)

ACCOUNTANTS:

Giess Wallis Crisp LLP

10-12 Mulberry Green

Old Harlow

Essex

CM17 0ET

FIXED ASSETS

Tangible assets

2

29,561

37,791

CURRENT ASSETS

Stocks

172,013

167,093

Debtors

598,357

462,507

Cash at bank and in hand

17,589

62,331

787,959

691,931

CREDITORS

Amounts falling due within one year

3

661,676

601,946

NET CURRENT ASSETS

126,283

89,985

TOTAL ASSETS LESS CURRENT LIABILITIES

155,844

127,776

CREDITORS

Amounts falling due after more than one year

3

-

6,166

NET ASSETS

155,844

121,610

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

155,744

121,510

SHAREHOLDERS' FUNDS

155,844

121,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 October 2015 and were signed on its behalf by:

Mr G G Bell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

71,762

Additions

4,546

Disposals

(5,615

)

At 31 May 2015

70,693

DEPRECIATION

At 1 June 2014

33,971

Charge for year

11,385

Eliminated on disposal

(4,224

)

At 31 May 2015

41,132

NET BOOK VALUE

At 31 May 2015

29,561

At 31 May 2014

37,791

3.

CREDITORS

Creditors include an amount of £ 6,166 (2014 - £ 15,414 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE PARENT COMPANY