Company registration number 07810851 (England and Wales)
OCEANMART LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 OCTOBER 2021
PAGES FOR FILING WITH REGISTRAR
OCEANMART LIMITED
COMPANY INFORMATION
Directors
Mr Priyesh Patel
Mr M Patel
Secretary
Mr Priyesh Patel
Company number
07810851
Registered office
134 Buckingham Palace Road
London
SW1W 9SA
Accountants
Magus Chartered Accountants
134 Buckingham Palace Road
London
SW1W 9SA
Business address
6 Oxford Street
Wellingborough
Northants
NN8 4JD
OCEANMART LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OCEANMART LIMITED
BALANCE SHEET
AS AT 27 OCTOBER 2021
27 October 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,165,529
1,169,483
Current assets
Debtors
4
383,715
172,267
Cash at bank and in hand
10,410
63,990
394,125
236,257
Creditors: amounts falling due within one year
5
(140,427)
(184,358)
Net current assets
253,698
51,899
Total assets less current liabilities
1,419,227
1,221,382
Creditors: amounts falling due after more than one year
6
(45,833)
(50,000)
Net assets
1,373,394
1,171,382
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
1,373,294
1,171,282
Total equity
1,373,394
1,171,382

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 27 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

OCEANMART LIMITED
BALANCE SHEET (CONTINUED)
AS AT 27 OCTOBER 2021
27 October 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 September 2022 and are signed on its behalf by:
Mr Priyesh  Patel
Mr M Patel
Director
Director
Company Registration No. 07810851
OCEANMART LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 27 OCTOBER 2021
- 3 -
1
Accounting policies
Company information

Oceanmart Limited is a private company limited by shares incorporated in England and Wales. The registered office is 134 Buckingham Palace Road, London, SW1W 9SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts Fees receivable net of discount.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil
Fixtures, fittings & equipment
20% On Cost
Motor vehicles
20% Reducing balance method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
62
62
OCEANMART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2021
- 4 -
3
Tangible fixed assets
Land and buildings Freehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 28 October 2020 and 27 October 2021
1,150,031
11,036
18,800
1,179,867
Depreciation and impairment
At 28 October 2020
-
0
9,756
627
10,383
Depreciation charged in the year
-
0
320
3,635
3,955
At 27 October 2021
-
0
10,076
4,262
14,338
Carrying amount
At 27 October 2021
1,150,031
960
14,538
1,165,529
At 27 October 2020
1,150,031
1,279
18,173
1,169,483
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
383,715
172,267
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
72,692
113,155
Other taxation and social security
67,164
70,673
Other creditors
571
530
140,427
184,358
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
45,833
50,000
OCEANMART LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 27 OCTOBER 2021
- 5 -
7
Loans and overdrafts
2021
2020
£
£
Bank loans
45,833
50,000
Payable after one year
45,833
50,000

The long-term loans are unsecured bounce back loan.

8
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
25 Ordinary "A" of £1 each
25
25
25 Ordinary "B" of £1 each
25
25
50 Ordinary "C" of £1 each
50
50
100
100
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