At 31 March 2011 the currency cash flow profile of those
financial assets and liabilities was:
GBP USD EUR NZD Total
GBP GBP GBP GBP GBP
Non current
investments at
fair value
through profit
or loss 43,515,830 4,966,976 2,224,643 3,759,135 54,466,584
Amounts due
from brokers 1,024,781 - - - 1,024,781
Dividends and
interest
receivable 24 - - - 24
Other
receivables 11,700 63,485 - - 75,185
Cash and cash
equivalents 880,729 16 - - 880,745
Amounts due to
brokers - - - - -
Other payables
and accrued
expenses (565,424) - - - (565,424)
Total net
foreign
currency
exposure 44,867,640 5,030,477 2,224,643 3,759,135 55,881,895
----------- ---------- ---------- ---------- -----------
At 31 March 2010 the currency cash flow profile of those
financial assets and liabilities was:
GBP USD EUR CAD Total
GBP GBP GBP GBP GBP
Non current
investments at
fair value through
profit or loss 43,824,760 3,956,483 3,381,255 - 51,162,498
Amounts due from
brokers - - 12,687 - 12,687
Dividends and
interest
receivable 173,230 - - - 173,230
Other receivables 35,243 67,090 - - 102,333
Cash and cash
equivalents 195,000 - - - 195,000
Amounts due to
brokers (34,632) - - - (34,632)
Other payables and
accrued expenses (324,908) (131,853) - - (456,761)
Overdraft (1,116,352) - - - (1,116,352)
Total net foreign
currency exposure 42,752,341 3,891,720 3,393,942 - 50,038,003
------------ ---------- ---------- ---- ------------
Sensitivity analysis is based on the Group's monetary foreign
currency instruments held at each balance sheet date.
If Sterling had weakened against the US Dollar by 10%, this
would have increased the net assets by GBP558,942 (2010:
GBP432,413) and reduced the net loss by GBP558,942 (2010:
GBP432,413).
If Sterling had strengthened against the US Dollar by 10%, this
would have decreased the net assets by GBP457,316 (2010:
GBP353,793) and increased the net loss by GBP457,316 (2010:
GBP353,793).
If Sterling had weakened against the Euro by 10%, this would
have increased the net assets by GBP247,183 (2010: GBP377,105) and
reduced the net loss by GBP247,183 (2010: GBP377,105).
If Sterling had strengthened against the Euro by 10%, this would
have decreased the net assets by GBP202,240 (2010: GBP308,540) and
increased the net loss by GBP202,240 (2010: GBP308,540).
If Sterling had weakened against the New Zealand Dollar by 10%,
this would have increased the net assets by GBP417,682 (2010: Nil)
and reduced the net loss by GBP417,682 (2010: GBPNil).
If Sterling had strengthened against the New Zealand Dollar by
10%, this would have decreased the net assets by GBP341,740 (2010:
Nil) and increased the net loss by GBP341,740 (2010: Nil).
Interest rate risk
Interest rate movements may affect:
-- the fair value of the investments in fixed rate securities
(including unquoted preferred shares - page 9);
-- the level of income receivable on cash deposits;
-- the interest payable on the Group's variable rate
borrowings.
The possible effects on fair value and cash flows that could
arise as a result of changes in interest rates are taken into
account when making investment decisions and borrowings under the
loan facility. The Board reviews on a regular basis the values of
the unquoted loans and preferred shares to companies in which
private equity investment is made. Interest rate risk is not
significant to the Group.
Other price risk
Other price risks (i.e. changes in market prices other than
those arising from currency risk or interest rate risk) may affect
the value of investments.
The Group's exposure to price risk comprises mainly of movements
in the value of the Group's investments. As at the year-end, the
spread of the Group's investment portfolio is analysed on pages 8
and 9.
The Board of Directors manages the market price risks inherent
in the investment portfolios by ensuring full and timely access to
relevant investment information from the Investment Manager. The
Board meets regularly and at each meeting reviews investment
performance. The Board monitors the Investment Manager's compliance
with the Group's objectives and is directly responsible for
investment strategy and asset allocation.
The Group's exposure to other changes in market prices at 31
March 2011 on its investments was as follows:
2011 2010
GBP GBP
Financial assets at fair value through
profit or loss
- Non current investments at fair
value through profit or loss 54,466,584 51,162,498
----------- -----------
The following table illustrates the sensitivity of the profit
and net assets to an increase or decrease of 10% in the fair values
of the Group's investments. This level of change is considered to
be reasonably possible based on observation of current market
conditions. The sensitivity analysis is based on the Group's
investments at each balance sheet date, with all other variables
held constant.
2011 2010
Increase Decrease Increase Decrease
in fair in fair in fair in fair
value value value value
GBP GBP GBP GBP
Income statement
Profit / (loss) for
the year 5,446,658 (5,446,658) 5,116,250 (5,116,250)
---------- ------------ ---------- ------------
Net assets 5,446,658 (5,446,658) 5,116,250 (5,116,250)
---------- ------------ ---------- ------------
(ii) Liquidity risk
This is the risk that the Group will encounter difficulty in
meeting obligations associated with financial liabilities.
The Group is faced with liquidity risk as the Group invests in
unlisted equities and other investments that may not be readily
realisable.
In accordance with the Group's policy, the Investment Manager
monitors the Company's liquidity risk, and the Board of Directors
reviews it. Details of the Group's debt instruments are disclosed
on page 9.
The table below shows the split of investments with maturity
dates of less than a year and investments with no maturity
date.
31 March 2011 Total
GBP
Less than
1 year -
No maturity
date 54,466,584
54,466,584
-----------
The Group's financial liabilities are due to mature within one
year from the balance sheet date.
(iii) Credit risk
The Group does not have any significant exposure to credit risk
arising from any one individual party. Credit risk is spread across
a number of counterparties, each having an immaterial effect on the
Group's cash flows, should a default happen. The Group's maximum
credit risk exposure at the Consolidated Statement of Financial
Position date is represented by the respective carrying amounts of
the financial assets in the Consolidated Statement of Financial
Position.
Fair value of financial assets and financial liabilities
The fair value for each class of financial assets and
liabilities, compared with the corresponding amount in the
statement of financial position were as follows:
2011 2010
Carrying Carrying
Fair value amount Fair value amount
GBP GBP GBP GBP
Financial assets at
fair value through
profit or loss
- Non current assets 54,466,584 54,466,584 51,162,498 51,162,498
----------- ----------- ------------ ------------
- Cash and cash
equivalents 880,745 880,745 195,000 195,000
----------- ----------- ------------ ------------
- Overdraft - - (1,116,352) (1,116,352)
- Amounts due from
brokers 1,024,781 1,024,781 12,687 12,687
----------- ----------- ------------ ------------
- Dividends and
interest receivable 24 24 173,230 173,230
----------- ----------- ------------ ------------
- Other receivables 75,185 75,185 102,333 102,333
----------- ----------- ------------ ------------
- Amounts due to
brokers - - (34,632) (34,632)
----------- ----------- ------------ ------------
- Other payables and
accrued expenses (565,424) (565,424) (456,761) (456,761)
----------- ----------- ------------ ------------
Oryx International Growth (LSE:OIG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Oryx International Growth (LSE:OIG)
Historical Stock Chart
From Jul 2023 to Jul 2024
