Acorah Software Products - Accounts Production 15.0.500 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07956604 Mr Ashvin Degnarain Ashvin Degnarain true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07956604 2023-03-31 07956604 2024-03-31 07956604 2023-04-01 2024-03-31 07956604 frs-core:CurrentFinancialInstruments 2024-03-31 07956604 frs-core:Non-currentFinancialInstruments 2024-03-31 07956604 frs-core:ShareCapital 2024-03-31 07956604 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07956604 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07956604 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07956604 frs-bus:SmallEntities 2023-04-01 2024-03-31 07956604 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07956604 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07956604 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07956604 frs-bus:OrdinaryShareClass1 2024-03-31 07956604 1 2023-04-01 2024-03-31 07956604 frs-bus:Director1 2023-04-01 2024-03-31 07956604 frs-countries:EnglandWales 2023-04-01 2024-03-31 07956604 2022-03-31 07956604 2023-03-31 07956604 2022-04-01 2023-03-31 07956604 frs-core:CurrentFinancialInstruments 2023-03-31 07956604 frs-core:Non-currentFinancialInstruments 2023-03-31 07956604 frs-core:ShareCapital 2023-03-31 07956604 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 07956604 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31
Registered number: 07956604
Ocean Tax Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2
Page 1
Balance Sheet
Registered number: 07956604
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 286,742 291,696
Cash at bank and in hand 14,243 2,744
300,985 294,440
NET CURRENT ASSETS (LIABILITIES) 300,985 294,440
TOTAL ASSETS LESS CURRENT LIABILITIES 300,985 294,440
NET ASSETS 300,985 294,440
CAPITAL AND RESERVES
Called up share capital 5 30,001 30,001
Profit and Loss Account 270,984 264,439
SHAREHOLDERS' FUNDS 300,985 294,440
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ashvin Degnarain
Director
7 August 2024
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ocean Tax Limited Registered number 07956604 is a limited by shares company incorporated on 20 February 2012 in England & Wales. The Registered Office is 20 - 22 Wenlock Road, London, N1 7GU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
100% of costs have been claimed except for the following apportionment:
  • Home office - 15%
  • Vehicle running costs - 75%
  • Telecommunications - 90%
  • Security - 95%
2.2. Turnover
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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
VAT 7,169 9,647
Due after more than one year
Other debtors 279,573 282,049
286,742 291,696
5. Share Capital
2024 2023
Allotted, called up and fully paid £ £
30,001 Ordinary Shares of £ 1 each 30,001 30,001
6. Ultimate Controlling Party
The company's ultimate controlling party is Ashvin Degnarain by virtue of his ownership of 100% of the issued share capital in the company.
Page 2