Silverfin false false 31/12/2023 01/01/2023 31/12/2023 P Moran 26/06/1991 R Ross 30/11/2007 W Strange 30/11/2007 A Mitchell 30/11/2007 16 August 2024 The principal activity of the Company during the financial year was that of executive search. 02595089 2023-12-31 02595089 bus:Director1 2023-12-31 02595089 bus:Director2 2023-12-31 02595089 bus:Director3 2023-12-31 02595089 bus:Director4 2023-12-31 02595089 2022-12-31 02595089 core:CurrentFinancialInstruments 2023-12-31 02595089 core:CurrentFinancialInstruments 2022-12-31 02595089 core:Non-currentFinancialInstruments 2023-12-31 02595089 core:Non-currentFinancialInstruments 2022-12-31 02595089 core:ShareCapital 2023-12-31 02595089 core:ShareCapital 2022-12-31 02595089 core:SharePremium 2023-12-31 02595089 core:SharePremium 2022-12-31 02595089 core:CapitalRedemptionReserve 2023-12-31 02595089 core:CapitalRedemptionReserve 2022-12-31 02595089 core:RetainedEarningsAccumulatedLosses 2023-12-31 02595089 core:RetainedEarningsAccumulatedLosses 2022-12-31 02595089 core:LeaseholdImprovements 2022-12-31 02595089 core:Vehicles 2022-12-31 02595089 core:FurnitureFittings 2022-12-31 02595089 core:ComputerEquipment 2022-12-31 02595089 core:LeaseholdImprovements 2023-12-31 02595089 core:Vehicles 2023-12-31 02595089 core:FurnitureFittings 2023-12-31 02595089 core:ComputerEquipment 2023-12-31 02595089 bus:OrdinaryShareClass1 2023-12-31 02595089 bus:OrdinaryShareClass2 2023-12-31 02595089 core:WithinOneYear 2023-12-31 02595089 core:WithinOneYear 2022-12-31 02595089 core:BetweenOneFiveYears 2023-12-31 02595089 core:BetweenOneFiveYears 2022-12-31 02595089 core:MoreThanFiveYears 2023-12-31 02595089 core:MoreThanFiveYears 2022-12-31 02595089 2023-01-01 2023-12-31 02595089 bus:FilletedAccounts 2023-01-01 2023-12-31 02595089 bus:SmallEntities 2023-01-01 2023-12-31 02595089 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02595089 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02595089 bus:Director1 2023-01-01 2023-12-31 02595089 bus:Director2 2023-01-01 2023-12-31 02595089 bus:Director3 2023-01-01 2023-12-31 02595089 bus:Director4 2023-01-01 2023-12-31 02595089 core:LeaseholdImprovements core:TopRangeValue 2023-01-01 2023-12-31 02595089 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 02595089 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 02595089 core:ComputerEquipment core:TopRangeValue 2023-01-01 2023-12-31 02595089 2022-01-01 2022-12-31 02595089 core:LeaseholdImprovements 2023-01-01 2023-12-31 02595089 core:Vehicles 2023-01-01 2023-12-31 02595089 core:FurnitureFittings 2023-01-01 2023-12-31 02595089 core:ComputerEquipment 2023-01-01 2023-12-31 02595089 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 02595089 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 02595089 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 02595089 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 02595089 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 02595089 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02595089 (England and Wales)

ORYX (EXECUTIVE SEARCH) LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ORYX (EXECUTIVE SEARCH) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ORYX (EXECUTIVE SEARCH) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
ORYX (EXECUTIVE SEARCH) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 39,759 11,148
39,759 11,148
Current assets
Debtors 4 265,979 210,388
Cash at bank and in hand 356,883 365,742
622,862 576,130
Creditors: amounts falling due within one year 5 ( 363,031) ( 251,129)
Net current assets 259,831 325,001
Total assets less current liabilities 299,590 336,149
Creditors: amounts falling due after more than one year 6 ( 66,669) ( 116,668)
Net assets 232,921 219,481
Capital and reserves
Called-up share capital 7 106,881 106,881
Share premium account 67,728 67,728
Capital redemption reserve 39,141 39,141
Profit and loss account 19,171 5,731
Total shareholders' funds 232,921 219,481

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Oryx (Executive Search) Limited (registered number: 02595089) were approved and authorised for issue by the Board of Directors on 16 August 2024. They were signed on its behalf by:

P Moran
Director
ORYX (EXECUTIVE SEARCH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ORYX (EXECUTIVE SEARCH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

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 128 St Georges Road, Bristol, BS1 5UJ, 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 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

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.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Vehicles 4 years straight line
Fixtures and fittings 6.6 years straight line
Computer equipment 4 years 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.

Impairment of assets

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 January 2023 0 45,973 7,153 15,886 69,012
Additions 21,495 0 0 12,794 34,289
Disposals 0 0 0 ( 1,557) ( 1,557)
At 31 December 2023 21,495 45,973 7,153 27,123 101,744
Accumulated depreciation
At 01 January 2023 0 45,973 5,741 6,150 57,864
Charge for the financial year 189 0 834 4,311 5,334
Disposals 0 0 0 ( 1,213) ( 1,213)
At 31 December 2023 189 45,973 6,575 9,248 61,985
Net book value
At 31 December 2023 21,306 0 578 17,875 39,759
At 31 December 2022 0 0 1,412 9,736 11,148

4. Debtors

2023 2022
£ £
Trade debtors 192,899 125,260
Amounts owed by directors 25,353 29,707
Prepayments 0 1,394
Other debtors 47,727 54,027
265,979 210,388

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 50,000 50,000
Trade creditors 16,005 8,077
Accruals 177,917 111,068
Taxation and social security 109,509 72,384
Other creditors 9,600 9,600
363,031 251,129

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 66,669 116,668

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
99,970 Ordinary shares of £ 1.00 each 99,970 99,970
6,911 Ordinary B shares of £ 1.00 each 6,911 6,911
106,881 106,881

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 77,500 74,500
between one and five years 238,000 300,500
after five years 0 454,500
315,500 829,500

9. Related party transactions

At the year end, a director owed the company £25,353 (2022: £29,707). Interest of £646 (2022: £776) has been charged on this loan and the loan is repayable on demand.

At the year end, a person with significant control owed the company £18,038 (2022: £22,587). Interest of £451 (2022: £639) has been charged on this loan and the loan is repayable on demand.

During the year, the directors received dividends totalling £10,000 (2022: £22,000).