2022-07-012023-06-302023-06-30false10830554RED OCEAN 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RED OCEAN LIMITED

Registered Number
10830554
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

RED OCEAN LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

UDDIN, Zirram Salah

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

10830554 (England and Wales)
RED OCEAN LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets398,46419,055
Investments4100-
98,56419,055
Current assets
Stocks56,9707,847
Debtors796,04929,651
Cash at bank and on hand145,989167,416
949,008204,914
Creditors amounts falling due within one year7(236,655)(61,915)
Net current assets (liabilities)712,353142,999
Total assets less current liabilities810,917162,054
Creditors amounts falling due after one year8(108,995)(133,360)
Net assets701,92228,694
Capital and reserves
Called up share capital200100
Profit and loss account701,72228,594
Shareholders' funds701,92228,694
The financial statements were approved and authorised for issue by the Director on 29 March 2024, and are signed on its behalf by:
UDDIN, Zirram Salah
Director
Registered Company No. 10830554
RED OCEAN LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets and depreciation
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 machinery20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1110
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 July 22-55,31055,310
Additions186,32986,330
At 30 June 231141,639141,640
Depreciation and impairment
At 01 July 22-36,25536,255
Charge for year-6,9216,921
At 30 June 23-43,17643,176
Net book value
At 30 June 23198,46398,464
At 30 June 22-19,05519,055
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions100100
At 30 June 23100100
Net book value
At 30 June 23100100
At 30 June 22--

Notes

1Investments in group undertakings and participating interests
5.Stocks

2023

2022

££
Finished goods6,9707,847
Total6,9707,847
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables786,8674,690
Other debtors9,182-
Prepayments and accrued income-24,961
Total796,04929,651
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables5,36518,626
Bank borrowings and overdrafts24,36516,288
Taxation and social security172,54516,577
Other creditors32,69110,424
Accrued liabilities and deferred income1,689-
Total236,65561,915
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts108,995133,360
Total108,995133,360
9.Related party transactions
Including in other creditors is the director's current account balance of £1,786 (2022: £1,786) this relates to the director.