Company No:
Contents
DIRECTORS | P Baron |
A Mitchell | |
P Moran | |
R Ross | |
W Strange | |
SECRETARY | P Moran |
REGISTERED OFFICE | C/O Bishop Fleming Llp |
10 Temple Back | |
Bristol | |
BS1 6FL | |
United Kingdom | |
COMPANY NUMBER | 02595089(England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
10 Temple Back | |
Bristol | |
BS1 6FL | |
BANKERS | National Westminster Bank Plc |
32 Corn Street | |
Bristol | |
BS99 7UG |
We are subject to the ethical and other professional requirements of the Institute of Chartered Accountants in England and Wales (ICAEW) which are detailed at _http://www.icaew.com/en/members/regulations-standards-and-guidance/_.
It is your duty to ensure that Oryx (Executive Search) 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 Oryx (Executive Search) Limited. You consider that Oryx (Executive Search) Limited is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Oryx (Executive Search) 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.
Chartered Accountants
Bristol
BS1 6FL
2019 | 2018 | |||
Note | £ | £ | ||
Fixed assets | ||||
Tangible assets | 3 |
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10,309 | 29,061 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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568,381 | 588,084 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 208,062 | 211,412 | ||
Total assets less current liabilities | 218,371 | 240,473 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Share premium account |
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Other reserves |
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Profit and loss account |
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Total shareholders' funds |
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Directors’ responsibilities:
The financial statements of Oryx (Executive Search) Limited (registered number:
P Baron
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
Oryx (Executive Search) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Oryx (Executive Search) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
Although there are net assets of £218,371 at the Statement of Financial Position date the Directors have carefully considered the recent COVID-19 events and has with these in mind considered the ability to continue as a going concern and believes this to be the appropriate basis on which to prepare the accounts.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Leasehold improvements - over the period of the lease
Vehicles - 25% straight line
Fixtures and Fittings - 15% straight line
Office equipment - 25% straight line
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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2019 | 2018 | |
Number | Number | |
Monthly average number of persons employed by the Company during the year, including directors |
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Leasehold improvements | Vehicles | Fixtures and fittings | Office equipment | Total | |
£ | £ | £ | £ | £ | |
Cost/Valuation | |||||
At 01 January 2019 |
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Additions |
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Disposals | (
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At 31 December 2019 |
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Accumulated depreciation | |||||
At 01 January 2019 |
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Charge for the financial year |
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Disposals | (
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At 31 December 2019 |
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Net book value | |||||
At 31 December 2019 |
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At 31 December 2018 |
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2019 | 2018 | |
£ | £ | |
Trade debtors |
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Prepayments |
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Other debtors |
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2019 | 2018 | |
£ | £ | |
Trade creditors |
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Amounts owed to directors |
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Other creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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Obligations under finance leases and hire purchase contracts |
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2019 | 2018 | |
£ | £ | |
Allotted, called-up and fully-paid | ||
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106,881 | 106,881 |
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2019 | 2018 | |
£ | £ | |
- within one year |
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- between one and five years |
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- after five years |
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At the year end, a director was owed £16,637 (2018: £6,376) by the company. No interest has been charged on this loan and there is no fixed date for repayment. This is included in other creditors.
At the year end, a director owed the company £3,714 (2018: £1,821 creditor). No interest has been charged on this loan and there is no fixed date for repayment. This is included in other debtors.
During the year, the directors received dividends totaling £226,128 (2018: £156,533).