06891003falseProvision of Services as Marine Electrical Engineers2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2022-06-30http://www.companieshouse.gov.uk/cd:Director12022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-06-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-06-30http://www.companieshouse.gov.uk/cd:Director22022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2023-06-30http://www.companieshouse.gov.uk/cd:Director32022-07-012023-06-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-07-012023-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass32022-07-012023-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:FRS1022022-07-012023-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-07-012023-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 06891003

Ocean Electric Ltd

ACCOUNTS
FOR THE YEAR ENDED 30/06/2023

Prepared By:
Bernard Walsh and Co
Certified Public Accountants
5 Elm Lane
Charlton Down
Dorset
DT2 9FB

Ocean Electric Ltd

ACCOUNTS
FOR THE YEAR ENDED 30/06/2023
DIRECTORS
Daniel Wootton
Neil Phillips
Complete Marine Solutions Ltd
REGISTERED OFFICE
10A Custom House Quay
Weymouth
DT4 8BG
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 06891003
ACCOUNTANTS
Bernard Walsh and Co
Certified Public Accountants
5 Elm Lane
Charlton Down
Dorset
DT2 9FB

Ocean Electric Ltd

ACCOUNTS
FOR THEYEARENDED30/06/2023
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 Electric Ltd

BALANCE SHEET AT 30/06/2023
20232022
Notes££
FIXED ASSETS
Tangible assets35,2206,525
CURRENT ASSETS
Stock5,00016,803
Debtors5744671
Cash at bank and in hand1,10010,675
6,84428,149
CREDITORS: Amounts falling due within one year624,41929,032
NET CURRENT LIABILITIES(17,575)(883)
TOTAL ASSETS LESS CURRENT LIABILITIES(12,355)5,642
CAPITAL AND RESERVES
Called up share capital722
Profit and loss account(12,357)5,640
SHAREHOLDERS' FUNDS(12,355)5,642
For the year ending 30/06/2023 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 04/03/2024 and signed on their behalf by
.............................
Daniel Wootton
Director

Ocean Electric Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/06/2023
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 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have not been prepared on the going concern basis.
The Directors are aware that the Company is currently trading insolvent but the company is going through a period of restructuring and will be supported by the Directors
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 20%
1d. 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.
2. EMPLOYEES
20232022
No.No.
Average number of employees22

Ocean Electric Ltd

3. TANGIBLE FIXED ASSETS
Commercial
VehiclesTotal
££
Cost
At 01/07/202214,32214,322
At 30/06/202314,32214,322
Depreciation
At 01/07/20227,7977,797
For the year1,3051,305
At 30/06/20239,1029,102
Net Book Amounts
At 30/06/20235,2205,220
At 30/06/20226,5256,525
4. STOCK 20232022
££
Stock comprises:
Stock5,00016,803
5,00016,803
5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors74496
Directors current account-575
744671
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
VAT2001,930
Directors current account7,461-
Directors current account-8,000
Bank Loan16,75818,963
Trade creditors-139
24,41929,032
7. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
2 Ordinary shares of £1 each2
2 Class C shares of £1 each22
22