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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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Orb Data Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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Orb Data Limited |
Orb Data Limited (Registered number: 03429749) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
Orb Data Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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29 Devizes Road |
Swindon |
Wiltshire |
SN1 4BG |
Orb Data Limited (Registered number: 03429749) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Share premium | 9 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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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. |
Orb Data Limited (Registered number: 03429749) |
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Balance Sheet - continued |
31 December 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Orb Data Limited (Registered number: 03429749) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Orb Data Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The directors consider that the company has returned to profitability and that cash flows are adequate to enable |
trading to continue. As a result they have adopted the going concern basis of accounting. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of |
transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Orb Data Limited (Registered number: 03429749) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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2. | ACCOUNTING POLICIES - continued |
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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 profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Orb Data Limited (Registered number: 03429749) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans greater than 5 years | 11,066 | 10,011 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.16 | 31.12.15 |
value: | £ | £ |
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'A' Ordinary | £1 | 84,000 | 84,000 |
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'B' Ordinary | £1 | 2,777 | 4,777 |
86,777 | 88,777 |
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'A' and 'B' Ordinary shares rank pari passu except that the 'B' shares carry voting rights only in respect of any |
resolution proposed by the holders of 'A' Ordinary shares for the winding up or liquidation of the company. |
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On 19 September 2006, under the Orb Data Limited Enterprise Management Incentive Share Option Scheme, the |
directors granted options for employees to acquire 5,556 'B' Ordinary shares at £4.25 per share between 19 |
September 2009 and 18 September 2016, such options being exercisable subject to and in accordance with the rules |
of the scheme as amended from time to time. |
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On 16 March 2007, further options were granted under the same scheme for employees to acquire 2,444 'B' Ordinary |
shares at £4.60 per share between 16 March 2010 and 15 March 2017. |
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On 5 April 2010, further options were granted under the same scheme for employees to acquire 4,500 'B' Ordinary |
shares at £8.50 per share between 5 April 2013 and 4 April 2020. |
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During the year options over nil (2015: nil) 'B' Ordinary shares were exercised and options over nil (2015: nil) 'B' |
Ordinary shares were cancelled. As at 31 December 2016 options to acquire 6,824 (2015: 6,824) 'B' Ordinary shares |
remain exercisable. |
Orb Data Limited (Registered number: 03429749) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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9. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 January 2016 |
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148,193 |
Profit for the year |
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Purchase of own shares | - | (7,000 | ) | (7,000 | ) |
At 31 December 2016 |
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198,515 |
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10. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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11. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102. The last financial statements under |
previous UK GAAP were for the year ended 31 December 2015 and the date of transition to FRS 102 was 1 January |
2015. No changes in accounting policies were required and consequently profit for the year ended 31 December |
2015 and total equity as at 1 January 2015 and 31 December 2015 remained the same between UK GAAP as |
previously reported and under FRS 102 in these financial statements. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Orb Data Limited |
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The following reproduces the text of the report prepared for the directors and members in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Orb Data Limited for the year ended 31 December 2016 which comprise the Income Statement, Balance Sheet |
and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Orb Data 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 Orb Data Limited and state those matters that we have agreed to state to the Board of Directors of Orb Data Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Orb Data Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Orb Data 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 profit of Orb Data Limited. You consider that Orb Data Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Orb Data 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. |
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29 Devizes Road |
Swindon |
Wiltshire |
SN1 4BG |
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