WESTERN OCEANIC CONSULTANTS LIMITED

Company Registration Number:
08390242 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

WESTERN OCEANIC CONSULTANTS LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Notes

WESTERN OCEANIC CONSULTANTS LIMITED

Balance sheet

As at 28 February 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 1,396 1,777
Total fixed assets: 1,396 1,777
Current assets
Debtors: 4 140
Cash at bank and in hand: 32,107 43,213
Total current assets: 32,247 43,213
Creditors: amounts falling due within one year: 5 (1,282) (1,745)
Net current assets (liabilities): 30,965 41,468
Total assets less current liabilities: 32,361 43,245
Total net assets (liabilities): 32,361 43,245
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 31,361 42,245
Shareholders funds: 32,361 43,245

The notes form part of these financial statements

WESTERN OCEANIC CONSULTANTS LIMITED

Balance sheet statements

For the year ending 28 February 2023 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 November 2023
and signed on behalf of the board by:

Name: Alexander Chestnut
Status: Director

The notes form part of these financial statements

WESTERN OCEANIC CONSULTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:Fixtures, fittings, office equipment - 15% straight line

Other accounting policies

DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Foreign currencyTransactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

WESTERN OCEANIC CONSULTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

WESTERN OCEANIC CONSULTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible Assets

Total
Cost £
At 01 March 2022 2,538
At 28 February 2023 2,538
Depreciation
At 01 March 2022 761
Charge for year 381
At 28 February 2023 1,142
Net book value
At 28 February 2023 1,396
At 28 February 2022 1,777

WESTERN OCEANIC CONSULTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

Other debtor - £140 (2022 - £Nil).

WESTERN OCEANIC CONSULTANTS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

Taxation and social security - £69 (2022 - £129).Other creditors - £1,213 (2022 - £1,616).