REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
FOR |
OCEANIC TEAK FURNITURE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
FOR |
OCEANIC TEAK FURNITURE LIMITED |
OCEANIC TEAK FURNITURE LIMITED (REGISTERED NUMBER: 11644117) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
OCEANIC TEAK FURNITURE LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Manufactory House |
Bell Lane |
Hertford |
Hertfordshire |
SG14 1BP |
OCEANIC TEAK FURNITURE LIMITED (REGISTERED NUMBER: 11644117) |
BALANCE SHEET |
30TH APRIL 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
OCEANIC TEAK FURNITURE LIMITED (REGISTERED NUMBER: 11644117) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
1. | STATUTORY INFORMATION |
Oceanic Teak Furniture Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The company director have decided to cease the company trading as of period ending 30 April 2024 and intend to close the company within the next 12 months and therefore, the cessation accounts have been prepared on a basis other than going concern. |
Turnover |
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services. |
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
OCEANIC TEAK FURNITURE LIMITED (REGISTERED NUMBER: 11644117) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st November 2022 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30th April 2024 |
DEPRECIATION |
At 1st November 2022 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 31st October 2022 |
5. | STOCKS |
2024 | 2022 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Other debtors |
Tax |
Deferred tax asset |
Prepayments |
OCEANIC TEAK FURNITURE LIMITED (REGISTERED NUMBER: 11644117) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST NOVEMBER 2022 TO 30TH APRIL 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
VAT | - | 804 |
Other creditors |
Accrued expenses |