Registered number: 06720404 | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
Prepared By: | ||||||||
Frank Gartland Limited | ||||||||
6 Torland Road | ||||||||
Plymouth | ||||||||
PL3 5TS |
Ocean Publishing Prints Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
DIRECTORS | ||||||||
SECRETARY | ||||||||
REGISTERED OFFICE | ||||||||
Devon | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 06720404 | ||||||||
ACCOUNTANTS | ||||||||
Frank Gartland Limited | ||||||||
6 Torland Road | ||||||||
Plymouth | ||||||||
PL3 5TS |
Ocean Publishing Prints Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/10/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Ocean Publishing Prints Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 2 | |||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
274,652 | 390,615 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 255,231 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 185,209 | 212,642 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 227,700 | 311,002 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Ocean Publishing Prints Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Land And Buildings | straight line 2% | |||||||
Short Leasehold Properties | straight line 13.3% | |||||||
Plant and Machinery | reducing balance 25% | |||||||
Commercial Vehicles | straight line 20% | |||||||
Fixtures and Fittings | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Goodwill | ||||||||
Ocean Publishing Prints Limited | ||||||||
1f. Government Grants | ||||||||
Government grants received are amortised over the life of the asset to which they relate. |
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/11/2022 | 33,606 | 33,606 | ||
At 31/10/2023 | 33,606 | 33,606 | ||
Depreciation | ||||
At 01/11/2022 | 24,865 | 24,865 | ||
For the year | 1,680 | 1,680 | ||
At 31/10/2023 | 26,545 | 26,545 | ||
Net Book Amounts | ||||
At 31/10/2023 | ||||
At 31/10/2022 | ||||
3. TANGIBLE FIXED ASSETS | ||||||||||||
Land And | Short Leasehold | Plant and | Commercial | Fixtures | ||||||||
Buildings | Properties | Machinery | Vehicles | and Fittings | Total | |||||||
£ | £ | £ | £ | £ | £ | |||||||
Cost | ||||||||||||
At 01/11/2022 | 278,835 | 55,382 | 103,021 | 18,256 | 9,701 | 465,195 | ||||||
Additions | - | - | 365 | - | 15,409 | 15,774 | ||||||
At 31/10/2023 | 278,835 | 55,382 | 103,386 | 18,256 | 25,110 | 480,969 | ||||||
Depreciation | ||||||||||||
At 01/11/2022 | 55,193 | 31,171 | 81,888 | 18,256 | 7,165 | 193,673 | ||||||
For the year | 5,577 | 7,384 | 5,375 | - | 4,486 | 22,822 | ||||||
At 31/10/2023 | 60,770 | 38,555 | 87,263 | 18,256 | 11,651 | 216,495 | ||||||
Net Book Amounts | ||||||||||||
At 31/10/2023 | 16,827 | 264,474 | ||||||||||
At 31/10/2022 | 24,211 | 271,522 | ||||||||||
4. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
Ocean Publishing Prints Limited | ||||||||
5. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 35,961 | 37,874 | ||||||
Other debtors | 65 | 65 | ||||||
Directors current account | 124,818 | 137,969 | ||||||
160,844 | 175,908 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 16,050 | 34,546 | ||||||
VAT | 17,287 | 20,292 | ||||||
Salaries and wages control | 1,785 | 879 | ||||||
Bank Loan and overdraft | 31,150 | 34,445 | ||||||
Hire purchase | - | 3,447 | ||||||
Trade creditors | 33,792 | 21,889 | ||||||
Credit card | 3,779 | 3,395 | ||||||
Pension schemes | 427 | 633 | ||||||
Accruals | 14,850 | 14,850 | ||||||
Grants | 1,008 | 1,008 | ||||||
120,128 | 135,384 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 18,776 | 26,726 | ||||||
Bank loans (secured) >1yr | 127,173 | 142,093 | ||||||
Hire purchase >1yr | - | 3,555 | ||||||
Grants >1yr | 39,260 | 40,268 | ||||||
185,209 | 212,642 | |||||||
Included in Creditors are bank loans of £150.961 (2022 £166,538 ) which are secured against the company's property.Of these loans £72,250 (2022 £75,850) is repayable after more than 5 years. | ||||||||
Ocean Publishing Prints Limited | ||||||||
8. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 21 | |||||
9. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Deferred taxation | 13,050 | 11,750 | ||||||
13,050 | 11,750 | |||||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
11. OTHER FINANCIAL COMMITMENTS | ||||||||
At 31/10/2023 the company was committed to making the following payments under non-cancellable operating leases: | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Operating Leases which expire: | ||||||||
Within one year | 67,000 | 40,000 | ||||||
Within two to five years | 59,500 | 82,000 | ||||||
12. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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