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REGISTERED NUMBER: SC150864 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Oceangrove Geoscience Limited

Oceangrove Geoscience Limited (Registered number: SC150864)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Oceangrove Geoscience Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M N D Kaye
Mrs J P Kaye





REGISTERED OFFICE: 1 George Square
Glasgow
G2 1AL





REGISTERED NUMBER: SC150864 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Oceangrove Geoscience Limited (Registered number: SC150864)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 218 -

CURRENT ASSETS
Debtors 5 10,045 7,559
Cash at bank and in hand 4,588 6,783
14,633 14,342
CREDITORS
Amounts falling due within one year 6 30,388 40,731
NET CURRENT LIABILITIES (15,755 ) (26,389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,537

)

(26,389

)

PROVISIONS FOR LIABILITIES 41 -
NET LIABILITIES (15,578 ) (26,389 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (15,678 ) (26,489 )
SHAREHOLDERS' FUNDS (15,578 ) (26,389 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Oceangrove Geoscience Limited (Registered number: SC150864)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





Mr M N D Kaye - Director


Oceangrove Geoscience Limited (Registered number: SC150864)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Oceangrove Geoscience Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Although the company has a deficiency of £15,578, if necessary the company will be supported by the Director and based on this the Director considers it appropriate to prepare the accounts on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the Director's support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Laboratory equipment - 25% on cost
Office & computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Oceangrove Geoscience Limited (Registered number: SC150864)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Office &
Laboratory computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 3,493 5,446 8,939
Additions - 291 291
At 31 December 2023 3,493 5,737 9,230
DEPRECIATION
At 1 January 2023 3,493 5,446 8,939
Charge for year - 73 73
At 31 December 2023 3,493 5,519 9,012
NET BOOK VALUE
At 31 December 2023 - 218 218
At 31 December 2022 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,709 -
Other debtors 8,336 7,559
10,045 7,559

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 1,871
Trade creditors 12 10
Taxation and social security 906 42
Other creditors 29,470 38,808
30,388 40,731

Oceangrove Geoscience Limited (Registered number: SC150864)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mr M N D Kaye
Balance outstanding at start of year (16,933 ) (16,487 )
Amounts advanced 7,500 -
Amounts repaid (1,582 ) (446 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,015 ) (16,933 )

Mrs J P Kaye
Balance outstanding at start of year (20,674 ) (20,163 )
Amounts advanced 5,000 27
Amounts repaid (1,581 ) (538 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,255 ) (20,674 )

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, who between them, own 100% of the issued share capital.