Company Registration No. 06322419 (England and Wales)
Oceanway Developments Limited
Unaudited accounts
for the year ended 30 June 2024
Oceanway Developments Limited
Unaudited accounts
Contents
Oceanway Developments Limited
Company Information
for the year ended 30 June 2024
Directors
Mrs R Flitton
Mr P O'Brien
Mr C Pettman
Mr J Pettman
Company Number
06322419 (England and Wales)
Registered Office
4 Wensley Avenue
Hull
East Yorkshire
HU6 8QY
England
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Oceanway Developments Limited
Statement of financial position
as at 30 June 2024
Intangible assets
2,000
4,000
Tangible assets
92,968
63,543
Cash at bank and in hand
22,704
32,718
Creditors: amounts falling due within one year
(51,472)
(41,543)
Net current (liabilities)/assets
(9,945)
58,586
Total assets less current liabilities
85,023
126,129
Creditors: amounts falling due after more than one year
(49,297)
(20,418)
Provisions for liabilities
Deferred tax
(17,664)
(12,334)
Called up share capital
4
4
Profit and loss account
18,058
93,373
Shareholders' funds
18,062
93,377
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by
Mr P O'Brien
Director
Company Registration No. 06322419
Oceanway Developments Limited
Notes to the Accounts
for the year ended 30 June 2024
Oceanway Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 06322419. The registered office is 4 Wensley Avenue, Hull, East Yorkshire, HU6 8QY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Cost
Fixtures & fittings
33% Cost
Computer equipment
33% Cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Oceanway Developments Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 July 2023
76,375
21,391
97,766
Additions
63,700
4,433
68,133
Disposals
(30,380)
-
(30,380)
At 30 June 2024
109,695
25,824
135,519
At 1 July 2023
27,167
7,056
34,223
Charge for the year
16,474
7,800
24,274
On disposals
(15,946)
-
(15,946)
At 30 June 2024
27,695
14,856
42,551
At 30 June 2024
82,000
10,968
92,968
At 30 June 2023
49,208
14,335
63,543
Amounts falling due within one year
Trade debtors
18,486
23,758
Accrued income and prepayments
337
5,293
Oceanway Developments Limited
Notes to the Accounts
for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
21,498
7,202
Trade creditors
2,599
1,852
Taxes and social security
3,027
25,937
Other creditors
4,178
4,334
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
49,297
20,418
9
Average number of employees
During the year the average number of employees was 16 (2023: 16).