Company No:
Contents
DIRECTORS | 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 |
2020 | 2019 | |||
Note | £ | £ | ||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
5,935 | 10,309 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
758,184 | 576,651 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
|
(
|
|
Net current assets | 435,087 | 208,062 | ||
Total assets less current liabilities | 441,022 | 218,371 | ||
Creditors | ||||
Amounts falling due after more than one year | (
|
|
||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 6 |
|
|
|
Share premium account |
|
|
||
Capital redemption reserve |
|
|
||
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors’ responsibilities:
The financial statements of Oryx (Executive Search) Limited (registered number:
P Moran
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.
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
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.
2020 | 2019 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Vehicles | Fixtures and fittings | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 January 2020 |
|
|
|
|
|||
Additions |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 31 December 2020 |
|
|
|
|
|||
Accumulated depreciation | |||||||
At 01 January 2020 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 31 December 2020 |
|
|
|
|
|||
Net book value | |||||||
At 31 December 2020 |
|
|
|
|
|||
At 31 December 2019 |
|
|
|
|
2020 | 2019 | ||
£ | £ | ||
Trade debtors |
|
|
|
Amounts owed by directors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2020 | 2019 | ||
£ | £ | ||
Bank loans and overdrafts |
|
|
|
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Other creditors |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Other taxation and social security |
|
|
|
|
|
2020 | 2019 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
106,881 | 106,881 |
Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2020 | 2019 | ||
£ | £ | ||
- within one year |
|
|
|
- between one and five years |
|
|
|
- after five years |
|
|
|
|
|
At the year end, a director owed the company £15,604 (2019: £21,192 by the company). Interest of £102 has been charged (2019: £Nil) on this loan and there is no fixed date for repayment.
At the year end, a director owed the company £45,806 (2019: £8,270). Interest of £839 has been charged (2019: £Nil) on this loan and there is no fixed date for repayment.
During the year, the directors received dividends totaling £38,881 (2019: £226,128).