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Registered Number: 12550686
England and Wales

 

 

 

OYSTER HR LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors E F D Le Blanc
M Zolot
Registered Number 12550686
Registered Office C/O Stevens & Bolton LLP
Wey House, Farnham Road
Guildford
England
GU1 4YD
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 December 2023.
Directors
The directors who served the company throughout the year were as follows:
E F D Le Blanc
M Zolot
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
E F D Le Blanc
Director

Date approved: 25 September 2024
2
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 3 2,830,843    895,567 
Cash at bank and in hand 297,290    1,104,480 
3,128,133    2,000,047 
Creditors: amount falling due within one year 4 (2,340,271)   (1,552,550)
Net current assets 787,862    447,497 
 
Total assets less current liabilities 787,862    447,497 
Net assets 787,862    447,497 
 

Capital and reserves
     
Profit and loss account 787,862    447,497 
Shareholders' funds 787,862    447,497 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 September 2024 and were signed on its behalf by:


-------------------------------
E F D Le Blanc
Director
3
General Information
Oyster HR Ltd is a private company, limited by shares, registered in England and Wales, registration number 12550686, registration address C/O Stevens & Bolton LLP , Wey House, Farnham Road, Guildford, England, GU1 4YD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
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.


When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.


Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.


The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
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 current liabilities.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 70 (2022 : 78).
3.

Debtors: amounts falling due within one year

2023
£
  2022
£
Amount Owed by Group Undertakings 2,830,363    826,300 
Prepayments & Accrued Income 480   
Other Debtors   69,267 
2,830,843    895,567 

4.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9,989    2,048 
Corporation Tax 103,754    103,371 
Accrued Expenses 96,076    5,804 
Other Creditors 2,130,452    1,441,327 
2,340,271    1,552,550 

5.

Share Capital

Authorised
1 Ordinary share of £0.01 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Ordinary share of £0.01 each  
 

4