Oceanus Charter Ltd 12989733 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is private yacht chartering. Digita Accounts Production Advanced 6.30.9574.0 true true 12989733 2023-01-01 2023-12-31 12989733 2023-12-31 12989733 bus:OrdinaryShareClass1 2023-12-31 12989733 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12989733 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 12989733 core:OtherPropertyPlantEquipment 2023-12-31 12989733 bus:SmallEntities 2023-01-01 2023-12-31 12989733 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12989733 bus:FullAccounts 2023-01-01 2023-12-31 12989733 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12989733 bus:RegisteredOffice 2023-01-01 2023-12-31 12989733 bus:Director1 2023-01-01 2023-12-31 12989733 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12989733 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12989733 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 12989733 core:ShipsBoats 2023-01-01 2023-12-31 12989733 core:VehiclesPlantMachinery 2023-01-01 2023-12-31 12989733 countries:England 2023-01-01 2023-12-31 12989733 2022-12-31 12989733 core:OtherPropertyPlantEquipment 2022-12-31 12989733 2022-01-01 2022-12-31 12989733 2022-12-31 12989733 bus:OrdinaryShareClass1 2022-12-31 12989733 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12989733 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 12989733 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12989733

Oceanus Charter Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Oceanus Charter Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Oceanus Charter Ltd

Company Information

Director

Mrs J Dorricott

Registered office

Two Beeches,
Shere Road
Leatherhead
Surrey
KT24 6EW

Accountants

Atek Accounting Solutions Ltd
111 Queens Road
Weybridge
Surrey
KT13 9UN

 

Oceanus Charter Ltd

(Registration number: 12989733)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

652,457

745,368

Current assets

 

Cash at bank and in hand

 

600

360

Creditors: Amounts falling due within one year

5

(1,167)

(1,167)

Net current liabilities

 

(567)

(807)

Total assets less current liabilities

 

651,890

744,561

Creditors: Amounts falling due after more than one year

5

(1,072,977)

(990,923)

Net liabilities

 

(421,087)

(246,362)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(421,088)

(246,363)

Shareholders' deficit

 

(421,087)

(246,362)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 September 2024
 

.........................................
Mrs J Dorricott
Director

 

Oceanus Charter Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Two Beeches,
Shere Road
Leatherhead
Surrey
KT24 6EW

These financial statements were authorised for issue by the director on 19 September 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.

Going concern

The large-scale refurbishment on the acquired yacht was delayed and not finished until the beginning of 2024. The company has also been getting the yacht MCA coded for commercial charter, which is expected to be completed in early 2025.. During 2024 the business has focused on setting up their website and marketing. The company is anticipating commercial charters to commence in Spring 2025.

The Director of the business is committed to supporting the on-going operational costs and therefore the financial statements have been prepared on a going concern basis.

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.

 

Oceanus Charter Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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

Yacht (motor powered)

6% straight line

Other plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Oceanus Charter Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Oceanus Charter Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

921,412

921,412

Additions

15,199

15,199

At 31 December 2023

936,611

936,611

Depreciation

At 1 January 2023

176,044

176,044

Charge for the year

108,110

108,110

At 31 December 2023

284,154

284,154

Carrying amount

At 31 December 2023

652,457

652,457

At 31 December 2022

745,368

745,368

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,166

1,167

Other creditors

1

-

1,167

1,167

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

1,072,977

990,923

6

Share capital

Allotted, called up and fully paid shares

 

Oceanus Charter Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Share capital (continued)

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1