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Registered number: 06720404

Ocean Publishing Prints Limited

ACCOUNTS
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
Mr Alexander Aitken
SECRETARY
Mrs Joanne Aitken
REGISTERED OFFICE
Unit 18 Reynolds Park, Bell Close
Newnham Industrial Estate
Plymouth
Devon
PL7 4FE
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 Sheet3
Notes To The Accounts4
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 31/10/2023
20232022
Notes££
FIXED ASSETS
Intangible assets27,0618,741
Tangible assets3264,474271,522
271,535280,263
CURRENT ASSETS
Stock14,84513,585
Debtors5160,844175,908
Cash at bank and in hand98,963201,122
274,652390,615
CREDITORS: Amounts falling due within one year6120,128135,384
NET CURRENT ASSETS154,524255,231
TOTAL ASSETS LESS CURRENT LIABILITIES426,059535,494
CREDITORS: Amounts falling due after more than one year7185,209212,642
PROVISIONS FOR LIABILITIES AND CHARGES913,05011,750
NET ASSETS227,800311,102
CAPITAL AND RESERVES
Called up share capital10100100
Profit and loss account227,700311,002
SHAREHOLDERS' FUNDS227,800311,102
For the year ending 31/10/2023 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 04/04/2024 and signed on their behalf by
.............................
Mr Alexander Aitken
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
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Land And Buildingsstraight line 2%
Short Leasehold Propertiesstraight line 13.3%
Plant and Machineryreducing balance 25%
Commercial Vehiclesstraight line 20%
Fixtures and Fittingsreducing 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
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

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
GoodwillTotal
££
Cost
At 01/11/202233,60633,606
At 31/10/202333,60633,606
Depreciation
At 01/11/202224,86524,865
For the year1,6801,680
At 31/10/202326,54526,545
Net Book Amounts
At 31/10/20237,0617,061
At 31/10/20228,7418,741
3. TANGIBLE FIXED ASSETS
Land AndShort LeaseholdPlant andCommercialFixtures
BuildingsPropertiesMachineryVehiclesand FittingsTotal
££££££
Cost
At 01/11/2022278,83555,382103,02118,2569,701465,195
Additions--365-15,40915,774
At 31/10/2023278,83555,382103,38618,25625,110480,969
Depreciation
At 01/11/202255,19331,17181,88818,2567,165193,673
For the year5,5777,3845,375-4,48622,822
At 31/10/202360,77038,55587,26318,25611,651216,495
Net Book Amounts
At 31/10/2023218,06516,82716,123-13,459264,474
At 31/10/2022223,64224,21121,133-2,536271,522
4. STOCK 20232022
££
Stock comprises:
Stock14,84513,585
14,84513,585

Ocean Publishing Prints Limited

5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors35,96137,874
Other debtors6565
Directors current account124,818137,969
160,844175,908
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax16,05034,546
VAT17,28720,292
Salaries and wages control1,785879
Bank Loan and overdraft31,15034,445
Hire purchase-3,447
Trade creditors33,79221,889
Credit card3,7793,395
Pension schemes427633
Accruals14,85014,850
Grants1,0081,008
120,128135,384
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans (unsecured) >1yr18,77626,726
Bank loans (secured) >1yr127,173142,093
Hire purchase >1yr-3,555
Grants >1yr39,26040,268
185,209212,642
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
20232022
No.No.
Average number of employees2621
9. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation13,05011,750
13,05011,750
10. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Class 1 shares of £1 each100100
100100
11. OTHER FINANCIAL COMMITMENTS
At 31/10/2023 the company was committed to making the following payments under non-cancellable operating leases:
20232022
££
Operating Leases which expire:
Within one year67,00040,000
Within two to five years59,50082,000
12. RELATED PARTY TRANSACTIONS
The company has received £15,000 (2022 £15,000) in management charges from an associated company in which the Directors have a 50% shareholding.