2022-10-012023-09-302023-09-30false04529268Ocean Blue Clothing 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Ocean Blue Clothing Limited

Registered Number
04529268
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

Ocean Blue Clothing Limited
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

Mrs E J Evans

Company Secretary

Mr M T Dell

Registered Address

1a Eddystone Road
Wadebridge
PL27 7AL

Registered Number

04529268 (England and Wales)
Ocean Blue Clothing Limited
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets519,61919,358
19,61919,358
Current assets
Debtors6197,408188,929
Cash at bank and on hand324,289340,151
521,697529,080
Creditors amounts falling due within one year7(71,512)(82,173)
Net current assets (liabilities)450,185446,907
Total assets less current liabilities469,804466,265
Net assets469,804466,265
Capital and reserves
Called up share capital22
Profit and loss account469,802466,263
Shareholders' funds469,804466,265
The financial statements were approved and authorised for issue by the Director on 16 January 2024, and are signed on its behalf by:
Mrs E J Evans
Director
Registered Company No. 04529268
Ocean Blue Clothing Limited
Notes to the Financial Statements
for the year ended 30 September 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
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 (%)Straight line (years)
Land and buildings-3
Plant and machinery15-
Vehicles20-
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year136
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 October 228,08645,99631,10485,186
Additions-4,376-4,376
Disposals-(581)-(581)
At 30 September 238,08649,79131,10488,981
Depreciation and impairment
At 01 October 228,08636,33221,41065,828
Charge for year-2,0931,9394,032
On disposals-(498)-(498)
At 30 September 238,08637,92723,34969,362
Net book value
At 30 September 23-11,8647,75519,619
At 30 September 22-9,6649,69419,358
6.Debtors

2023

2022

££
Other debtors187,994179,618
Prepayments and accrued income9,4149,311
Total197,408188,929
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,75112,774
Bank borrowings and overdrafts1,9524,267
Taxation and social security43,12142,810
Other creditors206428
Accrued liabilities and deferred income23,48221,894
Total71,51282,173
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.