2023-01-012023-12-312023-12-31false12554185OCEAN LIFE CHARTER 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OCEAN LIFE CHARTER LTD

Registered Number
12554185
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

OCEAN LIFE CHARTER LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

STECHER, Clemens

Registered Address

Anchor House School Lane
Chandlers Ford
Eastleigh
SO53 4DY

Registered Number

12554185 (England and Wales)
OCEAN LIFE CHARTER LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets580,62589,583
80,62589,583
Current assets
Debtors6,3797,145
Cash at bank and on hand8,7186,646
15,09713,791
Creditors amounts falling due within one year7(79,726)(100,086)
Net current assets (liabilities)(64,629)(86,295)
Total assets less current liabilities15,9963,288
Net assets15,9963,288
Capital and reserves
Called up share capital1,0001,000
Profit and loss account14,9962,288
Shareholders' funds15,9963,288
The financial statements were approved and authorised for issue by the Director on 23 February 2024, and are signed on its behalf by:
STECHER, Clemens
Director
Registered Company No. 12554185
OCEAN LIFE CHARTER LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Revenue recognition policy
Turnover from the rendering of services 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.
Foreign currency translation and operations policy
Transactions 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.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 23119,051
At 31 December 23119,051
Depreciation and impairment
At 01 January 2329,468
Charge for year8,958
At 31 December 2338,426
Net book value
At 31 December 2380,625
At 31 December 2289,583
6.Debtors within one year

2023

2022

££
Trade debtors / trade receivables-1,319
Other debtors484963
Prepayments and accrued income5,8954,863
Total6,3797,145
Short 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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables3309,450
Amounts owed to related parties78,38189,736
Accrued liabilities and deferred income1,015900
Total79,726100,086
Short 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.