1.
General Information
Knights Bay Oryx Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
13848731
. The registered office is 1-2 Rhodium Point , Spindle Close, Hawkinge, Folkestone , Kent, CT18 7TQ.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Exemption From Preparing Consolidated Financial Statements
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
2.3.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.4.
Investments
Investments in equity shares which are publicily traded or where the fair value can be measured realiably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost loss impairment.
Dividends on equity securities are recognised in income when receivable.
2.5.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
2.7.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
Knights Bay Oryx Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
4.
Investments
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2024 |
|
| Additions |
|
| As at 31 March 2025 |
|
| Provision | |
| As at 1 April 2024 |
|
| As at 31 March 2025 |
|
| Net Book Value | |
| As at 31 March 2025 |
|
| As at 1 April 2024 |
|
Subsidiaries
Details of the company's subsidiaries as at 31 March 2025 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
889a, Way 1812, North Al Hail, Muscat, Sultanate of Oman PC 111 |
|
|
- |
The principal activity of Knights Bay Mining and Trading LLC is that of mining and processing.
5.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Amounts owed by group undertakings | 1,990,010 | 1,999,911 | |
6.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 3,780 | 2,700 | |
Knights Bay Oryx Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
8.
Related Party Disclosures
Summary of transactions with parent
During the previous year, the company loaned funds to Knights Bay Limited, who owns the majority of the share capital. During the year, part of the loan was repaid. There are no terms of repayment and no interest charged on the outstanding loan.
|
Loan to parent
|
2025
|
2024
|
|
|
£
|
£
|
||
|
At start of period
|
1,999,911
|
1
|
|
|
Advanced/(repaid)
|
(9,901)
|
1,999,910
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
|
||
|
At end of period
|
1,990,010
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
1,999,911
|
Summary of transactions with subsidiaries
During the previous year, the company purchased the shares in its subsidiary, Knights Bay Mining and Trading LLC, and then loaned it funds as part of its start-up operations. During the year further advances were made. There are no terms of repayment and no interest charged on the outstanding loan.
|
Loan to subsidiary
|
2025
|
2024
|
|
|
£
|
£
|
||
|
At start of period
|
120,629
|
-
|
|
|
Advanced
|
435,717
|
120,629
|
|
|
|
|
||
|
At end of period
|
556,346
|
120,629
|