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Registration number: 10210020

Ocean Footprint Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Ocean Footprint Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Ocean Footprint Ltd

Company Information

Directors

Miss C Roper

Mr P B Harrison

Mr J H Malins

Company secretary

Miss C Roper

Registered office

Unit 1A, North Station Yard,
Warminster Rd
Wilton
Salisbury
Wiltshire
SP2 0AT

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Ocean Footprint Ltd

(Registration number: 10210020)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

353

471

Tangible assets

5

44,407

72,673

Other financial assets

6

215,343

195,545

 

260,103

268,689

Current assets

 

Stocks

7

137,472

71,391

Debtors

8

104,223

131,195

Cash at bank and in hand

 

32,220

60,881

 

273,915

263,467

Creditors: Amounts falling due within one year

9

(271,516)

(249,996)

Net current assets

 

2,399

13,471

Total assets less current liabilities

 

262,502

282,160

Provisions for liabilities

(12,246)

(9,485)

Net assets

 

250,256

272,675

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

250,254

272,673

Shareholders' funds

 

250,256

272,675

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Ocean Footprint Ltd

(Registration number: 10210020)
Balance Sheet as at 30 November 2023 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
Miss C Roper
Company secretary and director

.........................................
Mr P B Harrison
Director

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1A, North Station Yard,
Warminster Rd
Wilton
Salisbury
Wiltshire
SP2 0AT

These financial statements were authorised for issue by the Board on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

25% Reducing Balance

Plant and Machinery

15% Reducing Balance

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

33% & 15% Straight Line

Computer Equipment

33% Straight Line

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
Fixed asset investments are stated at fair value through profit or loss
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 5).

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 December 2022

798

798

At 30 November 2023

798

798

Amortisation

At 1 December 2022

327

327

Amortisation charge

118

118

At 30 November 2023

445

445

Carrying amount

At 30 November 2023

353

353

At 30 November 2022

471

471

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 December 2022

3,271

6,005

14,176

97,025

53,000

Additions

-

558

1,695

8,334

-

Disposals

-

(513)

(876)

(799)

-

At 30 November 2023

3,271

6,050

14,995

104,560

53,000

Depreciation

At 1 December 2022

1,285

3,106

3,995

68,516

23,902

Charge for the year

496

760

1,549

28,257

7,275

Eliminated on disposal

-

(278)

(595)

(799)

-

At 30 November 2023

1,781

3,588

4,949

95,974

31,177

Carrying amount

At 30 November 2023

1,490

2,462

10,046

8,586

21,823

At 30 November 2022

1,986

2,899

10,181

28,509

29,098

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Tangible assets (continued)

Total
£

Cost or valuation

At 1 December 2022

173,477

Additions

10,587

Disposals

(2,188)

At 30 November 2023

181,876

Depreciation

At 1 December 2022

100,804

Charge for the year

38,337

Eliminated on disposal

(1,672)

At 30 November 2023

137,469

Carrying amount

At 30 November 2023

44,407

At 30 November 2022

72,673

Included within the net book value of land and buildings above is £1,490 (2022 - £1,986) in respect of short leasehold land and buildings.
 

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Other financial assets (current and non-current)

Financial assets
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2022

195,545

195,545

Fair value adjustments

19,798

19,798

At 30 November 2023

215,343

215,343

Impairment

Carrying amount

At 30 November 2023

215,343

215,343

7

Stocks

2023
£

2022
£

Other inventories

137,472

71,391

8

Debtors

Current

2023
£

2022
£

Trade debtors

85,767

87,081

Prepayments

6,645

6,420

Other debtors

11,811

37,694

 

104,223

131,195

9

Creditors

Creditors: amounts falling due within one year

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

9

Creditors (continued)

2023
£

2022
£

Due within one year

Trade creditors

51,082

49,940

Taxation and social security

-

1,092

Accruals and deferred income

2,800

-

Other creditors

217,634

198,964

271,516

249,996

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

11

Dividends

2023

2022

£

£

Interim dividend of £30,000.00 (2022 - £41,160.00) per ordinary share

60,000

82,320

 

 

12

Related party transactions

The outstanding loans from directors are interest free and repayable on demand.

Transactions with directors

 

Ocean Footprint Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

12

Related party transactions (continued)

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr P B Harrison

155,318

(24,844)

66,924

197,398

Miss C Roper

43,646

(60,903)

37,493

20,236