Oyinx Limited - Period Ending 2014-10-31

OYINX LIMITED - Company Information

Print Friendly Version

Registration number: 06717353

Oyinx Limited

Annual Report and Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014

PKP & Company Limited
Chartered Certified Accountants
1 Forum House
Empire Way
Wembley
HA9 0AB

Oyinx Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Oyinx Limited
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Oyinx Limited for the year ended 31 October 2014 set out on pages 2-4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Oyinx Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Oyinx Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oyinx Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Oyinx Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Oyinx Limited. You consider that Oyinx Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Oyinx Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

PKP & Company Limited
Chartered Certified Accountants
1 Forum House
Empire Way
Wembley
HA9 0AB

28 July 2015

Page 1

Oyinx Limited
(Registration number: 06717353)
Abbreviated Balance Sheet at 31 October 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets		3,448	2,805
Current assets
Debtors		19	562
Cash at bank and in hand		8,998	26,886
		9,017	27,448
Creditors: Amounts falling due within one year		(9,051)	(24,648)
Net current (liabilities)/assets		(34)	2,800
Net assets		3,414	5,605
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		2,414	4,605
Shareholders' funds		3,414	5,605

For the year ending 31 October 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 28 July 2015 and signed on its behalf by:

.........................................
Mr Albert Alaba Ogunsanya
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Oyinx Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings & equipment	15% straight line

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2013	5,265	5,265
Additions	1,685	1,685
At 31 October 2014	6,950	6,950
Depreciation
At 1 November 2013	2,460	2,460
Charge for the year	1,042	1,042
At 31 October 2014	3,502	3,502
Net book value
At 31 October 2014	3,448	3,448
At 31 October 2013	2,805	2,805

Page 3

Oyinx Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary shares of £1 each		1,000	1,000		1,000	1,000

Page 4