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Registered number: 03113270










ONYXCOL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023



 
ONYXCOL LIMITED
 

COMPANY INFORMATION


Directors
P A Ballinger 
P E Lebby 




Company secretary
P E Lebby



Registered number
03113270



Registered office
Reading Bridge House
George Street

Reading

Berkshire

RG1 8LS




Accountants
James Cowper Kreston
Chartered Accountants

Reading Bridge House

George Street

Reading

Berkshire

RG1 8LS





 
ONYXCOL LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6


 
ONYXCOL LIMITED
REGISTERED NUMBER:03113270

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
378
378

Debtors: amounts falling due within one year
 4 
684,378
685,638

Cash at bank and in hand
  
18,611
18,499

  
703,367
704,515

Current liablities
  

Creditors: amounts falling due within one year
 5 
(790,249)
(786,250)

Total assets less current liabilities
  
 
 
(86,882)
 
 
(81,735)

  

Net liabilities
  
(86,882)
(81,735)


Capital and reserves
  

Called up share capital 
 6 
1,000
1,000

Profit and loss account
  
(87,882)
(82,735)

  
(86,882)
(81,735)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
ONYXCOL LIMITED
REGISTERED NUMBER:03113270

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P E Lebby
P A Ballinger
Director
Director


Date: 31 October 2023
Date:14 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ONYXCOL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Onyxcol Limited is a private company limited by shares, incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below.

Depreciation is provided on the following basis:

Improvements to leasehold property
-
over the period of the lease
Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
ONYXCOL LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
ONYXCOL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
148
148

Amounts owed by related companies
230
230

378
378


2023
2022
£
£

Due within one year

Amounts owed by group undertakings
683,438
683,438

Other debtors
-
1,260

Prepayments and accrued income
940
940

684,378
685,638



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
777,791
774,791

Amounts owed by related companies
1,120
1,120

Other creditors
11,338
10,339

790,249
786,250



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 5

 
ONYXCOL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Related party transactions

At the balance sheet date the company owed £777,791 (2022: £774,791) to Skala Recruitment Limited, a company related by common control. 
At the balance sheet date the company was owed £230 (2022: £230) from Expressportal Limited, a company related by common control.
At the balance sheet date the company was owed £148 (2022: £148) from Supplysmart Limited, its immediate parent company.  
At the balance sheet date the company owed
 £1,120 (2022: £1,120 owed from) to Jack Bale Properties Limited, a company related by common control. 
At the balance sheet date the company owed £683,438 (2022: £683,438) to Skala Employee Ownership Trust, the ultimate parent. 


8.


Ultimate parent undertaking

The immediate parent company is Supplysmart Limited, a company incorporated in the UK, which is owned by Skala Employee Ownership Trust.   


Page 6