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Unaudited Financial Statements |
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for the Year Ended 31 July 2018 |
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for |
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Orlock Advisors Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 July 2018 |
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for |
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Orlock Advisors Limited |
Orlock Advisors Limited (Registered number: SC362220) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2018 |
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Page |
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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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Orlock Advisors Limited |
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Company Information |
for the Year Ended 31 July 2018 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Orlock Advisors Limited (Registered number: SC362220) |
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Balance Sheet |
31 July 2018 |
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31.7.18 | 31.7.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Fair value reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
Orlock Advisors Limited (Registered number: SC362220) |
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Balance Sheet - continued |
31 July 2018 |
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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 director on
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Orlock Advisors Limited (Registered number: SC362220) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2018 |
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1. | STATUTORY INFORMATION |
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Orlock Advisors 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 |
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, modified to include certain items at fair value. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value |
added taxes. Turnover includes revenue earned from the rendering of services. |
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Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to |
the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the |
outcome of a contract cannot be estimated reliably. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is |
provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of |
each asset on a straight-line basis over its expected useful life, as follows: |
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Computer equipment - 33% on cost |
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Residual value represents the estimated amount which would currently be obtained from disposal of an asset, |
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at |
the end of its useful life. |
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Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. |
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Basic financial instruments are initially recognised at transaction value and subsequently measured at their |
settlement value. |
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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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Orlock Advisors Limited (Registered number: SC362220) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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Fixed asset investments |
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, |
investments are measured at cost less impairment. |
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Listed investments are measured using the market value in the investment portfolio at the balance sheet date. |
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Unlisted and other investments are valued using the directors valuation of fair value at the balance sheet date as |
quoted prices are not available. |
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Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle that obligation and a reliable estimate can be |
made of the amount of the obligation. |
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The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
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Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
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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 |
Computer |
equipment |
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COST |
At 1 August 2017 |
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Additions |
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At 31 July 2018 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for year |
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At 31 July 2018 |
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NET BOOK VALUE |
At 31 July 2018 |
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At 31 July 2017 |
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Orlock Advisors Limited (Registered number: SC362220) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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5. | FIXED ASSET INVESTMENTS |
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31.7.18 | 31.7.17 |
£ | £ |
Other investments not loans |
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Additional information is as follows: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2017 |
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2,374,497 |
Additions |
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49,057 |
Disposals | ( |
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(108,180 | ) |
Revaluations | ( |
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At 31 July 2018 |
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2,234,635 |
NET BOOK VALUE |
At 31 July 2018 |
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2,234,635 |
At 31 July 2017 |
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2,374,497 |
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The historical cost of listed investments was £2,007,593 at 31st July 2018 (2017: £2,004,311). |
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The historical cost of unlisted investments was £4,900 at 31st July 2018 (2017: £4,900). |
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Investments (neither listed nor unlisted) were as follows: |
31.7.18 | 31.7.17 |
£ | £ |
Gold bullion coin | 32,076 | 18,168 |
Charles Stanley income a/c | 119,924 | 80,666 |
Charles Stanley capital a/c | 1,188,867 | 525,061 |
1,340,867 | 623,895 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.18 | 31.7.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.18 | 31.7.17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Orlock Advisors Limited (Registered number: SC362220) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2018 |
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8. | PROVISIONS FOR LIABILITIES |
31.7.18 | 31.7.17 |
£ | £ |
Deferred tax | 37,627 | 62,099 |
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Deferred |
tax |
£ |
Balance at 1 August 2017 |
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Provided during year | ( |
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Balance at 31 July 2018 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.18 | 31.7.17 |
value: | £ | £ |
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Ordinary shares | £1 | 1,000 | 1,000 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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Included within debtors is the following loan to the director: |
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1.8.17 | Amount advanced | Amount repaid | 31.7.18 |
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Director | £35,964 | £566 | (£36,329 | ) | £201 |
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The above loans are unsecured and repayable on demand. Interest is charged at the HMRC official rate. |
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £133,999 (2017 - £66,000) were paid to the director . |
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Related party |
Type of transaction |
Amount |
Balance
receivable or (payable) by related party as at 31st July 2018 |
Balance
receivable or (payable) by related party as at 31st July 2017 |
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Against The Head Limited | Loan | £nil | (£200,000) | (£200,000) |
(2017: £100,000) |
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Against The Head Limited | Sales debtor | £995,368 | £995,368 | £12,289 |
(2017: £12,289) |
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Against The Head Limited | Commission | £57,773 | £nil | £nil |
paid | (2017: £174,572) |
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A director and shareholder of Orlock Advisors Limited is also a director and shareholder of Against The Head |
Limited. |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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