OCEAN ZEN CIC

Company limited by guarantee

Company Registration Number:
12075014 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

OCEAN ZEN CIC

Contents of the Financial Statements

for the Period Ended 30 June 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

OCEAN ZEN CIC

Directors' report period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Directors

The directors shown below have held office during the whole of the period from
1 July 2022 to 30 June 2023

Tova Crossland
Nicola McHugh


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
4 April 2024

And signed on behalf of the board by:
Name: Tova Crossland
Status: Director

OCEAN ZEN CIC

Profit And Loss Account

for the Period Ended 30 June 2023

2023 2022


£

£
Turnover: 20,412 25,904
Cost of sales: ( 5,269 ) ( 6,208 )
Gross profit(or loss): 15,143 19,696
Distribution costs: 0 0
Administrative expenses: ( 15,644 ) ( 20,644 )
Operating profit(or loss): (501) (948)
Profit(or loss) before tax: (501) (948)
Tax: 94 115
Profit(or loss) for the financial year: (407) (833)

OCEAN ZEN CIC

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 0 495
Total fixed assets: 0 495
Current assets
Stocks: 4 500 2,500
Debtors: 5 1,045 1,048
Cash at bank and in hand: 229 642
Total current assets: 1,774 4,190
Creditors: amounts falling due within one year: 6 ( 3,444 ) ( 5,853 )
Net current assets (liabilities): (1,670) (1,663)
Total assets less current liabilities: (1,670) ( 1,168)
Provision for liabilities: ( 94 )
Total net assets (liabilities): (1,670) (1,262)
Members' funds
Profit and loss account: (1,670) ( 1,262)
Total members' funds: ( 1,670) (1,262)

The notes form part of these financial statements

OCEAN ZEN CIC

Balance sheet statements

For the year ending 30 June 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.

This report was approved by the board of directors on 4 April 2024
and signed on behalf of the board by:

Name: Tova Crossland
Status: Director

The notes form part of these financial statements

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:Plant & Machinery: 3 years RBComputer Equipment: 3 years SL

    Other accounting policies

    Stock and Work in Progress:Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 136 1,676 1,812
Additions
Disposals
Revaluations
Transfers
At 30 June 2023 136 1,676 1,812
Depreciation
At 1 July 2022 108 1,209 1,317
Charge for year 28 467 495
On disposals
Other adjustments
At 30 June 2023 136 1,676 1,812
Net book value
At 30 June 2023 0 0 0
At 30 June 2022 28 467 495

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Stocks

2023 2022
£ £
Stocks 500 2,500
Total 500 2,500

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
£ £
Other debtors 1,045 1,048
Total 1,045 1,048

OCEAN ZEN CIC

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 13 23
Trade creditors 1
Accruals and deferred income 3,430 5,830
Total 3,444 5,853

COMMUNITY INTEREST ANNUAL REPORT

OCEAN ZEN CIC

Company Number: 12075014 (England and Wales)

Year Ending: 30 June 2023

Company activities and impact

Our company's activities included a lot of work with the community a funded project for the benefit of the community to feel less isolated during Covid. Offered support for overall wellbeing during covid and to people within the community. Consistently provided online coffee mornings for the community and engaged with the community on our return to offer support chats and free therapies/ treatments. this also included events when allowed to and the age range is from young to old . We have provided meditation and other community based services as well as online support for our community as well as emails and other communication about who we are and what we provide. Collaborated with some local charities and offered our services. Consistently support our community through our shop and centre based within a town centre. Often people will pop in for chats and/ or attend retreats we offer and other services as a result.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 April 2024

And signed on behalf of the board by:
Name: Tova Crossland
Status: Director