Oyinx Limited - Period Ending 2013-10-31

Trade debtors

Other debtors

Oyinx Limited 06717353 false true 2012-11-01 2013-10-31 2013-10-31 true 06717353 2012-11-01 2013-10-31 06717353 2013-10-31 06717353 uk-gaap:FixturesFittingsToolsEquipment 2013-10-31 06717353 uk-bus:RegisteredOffice 2012-11-01 2013-10-31 06717353 uk-bus:AllEntityOfficers 2012-11-01 2013-10-31 06717353 uk-bus:Director1 2012-11-01 2013-10-31 06717353 uk-bus:Director2 2012-11-01 2013-10-31 06717353 uk-bus:EntityAccountantsOrAuditors 2012-11-01 2013-10-31 06717353 uk-gaap:DividendsPaid uk-bus:AllOrdinaryShares 2012-11-01 2013-10-31 06717353 uk-gaap:FixturesFittings 2012-11-01 2013-10-31 06717353 uk-gaap:FixturesFittingsToolsEquipment 2012-11-01 2013-10-31 06717353 2012-10-31 06717353 uk-gaap:FixturesFittingsToolsEquipment 2012-10-31 06717353 2011-11-01 2012-10-31 06717353 2012-10-31 06717353 uk-gaap:FixturesFittingsToolsEquipment 2012-10-31 06717353 uk-bus:AllEntityOfficers 2011-11-01 2012-10-31 06717353 uk-gaap:DividendsPaid uk-bus:AllOrdinaryShares 2011-11-01 2012-10-31 iso4217:GBP

Registration number: 06717353

Oyinx Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2013

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

Oyinx Limited
Contents

Company Information

Directors' Report

Accountants' Report

Profit and Loss Account

Balance Sheet

Notes to the Financial Statements

6 to 8

Oyinx Limited
Company Information

Directors

Mrs Oyinade Ogunsanya

Mr Albert Alaba Ogunsanya

Registered office

1 Forum House
Empire Way
Wembley
HA9 0AB

Accountants

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

Page 1

Oyinx Limited
Directors' Report for the Year Ended 31 October 2013

The directors present their report and the unaudited financial statements for the year ended 31 October 2013.

Directors of the company

The directors who held office during the year were as follows:

Mrs Oyinade Ogunsanya

Mr Albert Alaba Ogunsanya

Principal activity

The principal activity of the company is providing Healthcare services.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 25 July 2014 and signed on its behalf by:

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

Page 2

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 2013

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 2013 set out on pages 4 to 8 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

25 July 2014

Page 3

Oyinx Limited
Profit and Loss Account for the Year Ended 31 October 2013

	Note	2013 £	2012 £
Turnover		54,539	59,695
Administrative expenses		(29,440)	(26,524)
Operating profit	2	25,099	33,171
Other interest receivable and similar income		2	2
Profit on ordinary activities before taxation		25,101	33,173
Tax on profit on ordinary activities	4	(5,250)	(6,900)
Profit for the financial year	10	19,851	26,273

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

Oyinx Limited
(Registration number: 06717353)
Balance Sheet at 31 October 2013

	Note	2013 £	2012 £
Fixed assets
Tangible fixed assets	5	2,805	3,211
Current assets
Debtors	6	562	1,400
Cash at bank and in hand		26,886	20,215
		27,448	21,615
Creditors: Amounts falling due within one year	7	(24,648)	(19,072)
Net current assets		2,800	2,543
Net assets		5,605	5,754
Capital and reserves
Called up share capital	8	1,000	1,000
Profit and loss account	10	4,605	4,754
Shareholders' funds		5,605	5,754

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ended 31 October 2013 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.

Approved and authorised for issue by the Board on 25 July 2014 and signed on its behalf by:

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

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

Oyinx Limited
Notes to the Financial Statements for the Year Ended 31 October 2013
......... continued

1	Accounting policies

Basis of preparation

The financial statements 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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Operating profit

Operating profit is stated after charging:

	2013 £	2012 £

Depreciation of tangible fixed assets	790	732

3	Directors' remuneration

The directors' remuneration for the year was as follows:

	2013 £	2012 £

Remuneration	8,700	8,299

Page 6

Oyinx Limited
Notes to the Financial Statements for the Year Ended 31 October 2013
......... continued

Taxation

Tax on profit on ordinary activities

	2013 £	2012 £
Current tax
Corporation tax charge	5,250	6,900

5	Tangible fixed assets

	Fixtures,fittings and equipment £	Total £
Cost or valuation
At 1 November 2012	4,881	4,881
Additions	384	384
At 31 October 2013	5,265	5,265
Depreciation
At 1 November 2012	1,670	1,670
Charge for the year	790	790
At 31 October 2013	2,460	2,460
Net book value
At 31 October 2013	2,805	2,805
At 31 October 2012	3,211	3,211

Debtors

Page 7

Oyinx Limited
Notes to the Financial Statements for the Year Ended 31 October 2013
......... continued

7	Creditors: Amounts falling due within one year

8	Share capital

Allotted, called up and fully paid shares

	2013			2012
		No.	£		No.	£
Ordinary shares of £1 each		1,000	1,000		1,000	1,000

Dividends

	2013 £	2012 £
Dividends paid
Current year interim dividend paid	20,000	24,000

Reserves

	Profit and loss account £	Total £

At 1 November 2012	4,754	4,754

Profit for the year	19,851	19,851
Dividends	(20,000)	(20,000)
At 31 October 2013	4,605	4,605

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 8