Registered number
09814114
Oceangems Limited
Filleted Accounts
31 October 2023
Oceangems Limited
Registered number: 09814114
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 339,111 339,111
Current assets
Debtors 4 83 66
Creditors: amounts falling due within one year 5 (725) (1,970)
Net current liabilities (642) (1,904)
Total assets less current liabilities 338,469 337,207
Creditors: amounts falling due after more than one year 6 (347,765) (345,125)
Net liabilities (9,296) (7,918)
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account (11,296) (9,918)
Shareholder's funds (9,296) (7,918)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Cecilia Bravo Garcia
Director
Approved by the board on 29 July 2024
Oceangems Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Ships and Vessels no depreciation
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Ships and vessels
£
Cost
At 1 November 2022 339,111
At 31 October 2023 339,111
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 339,111
At 31 October 2022 339,111
4 Debtors 2023 2022
£ £
Other debtors 83 66
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 725 1,970
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 347,765 345,125
7 Other information
Oceangems Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Leyden Street
London
E1 7LE
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