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REGISTERED NUMBER: 03959451 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OCEAN QUAY MARINA LTD

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEAN QUAY MARINA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B Davies
E C Davies





SECRETARY: Z R French





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 03959451 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 541,882 497,898

CURRENT ASSETS
Debtors 5 11,277 28,148
Cash at bank 294,038 180,300
305,315 208,448
CREDITORS
Amounts falling due within one year 6 46,708 41,061
NET CURRENT ASSETS 258,607 167,387
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,489

665,285

CREDITORS
Amounts falling due after more than one
year

7

(25,034

)

-

PROVISIONS FOR LIABILITIES (14,971 ) (11,441 )
NET ASSETS 760,484 653,844

CAPITAL AND RESERVES
Called up share capital 114 114
Share premium 249,986 249,986
Retained earnings 510,384 403,744
SHAREHOLDERS' FUNDS 760,484 653,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2024 and were signed on its behalf by:





B Davies - Director


OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Ocean Quay Marina Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents rental income and berthing fees receivable during the period, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold - in accordance with the term of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year 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 year 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.

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 686,269 25,500 41,706 69,492 822,967
Additions - 80,263 - 65,700 145,963
Disposals - - - (60,102 ) (60,102 )
At 31 December 2023 686,269 105,763 41,706 75,090 908,828
DEPRECIATION
At 1 January 2023 251,155 21,222 35,329 17,363 325,069
Charge for year 19,750 16,909 1,593 18,033 56,285
Eliminated on disposal - - - (14,408 ) (14,408 )
At 31 December 2023 270,905 38,131 36,922 20,988 366,946
NET BOOK VALUE
At 31 December 2023 415,364 67,632 4,784 54,102 541,882
At 31 December 2022 435,114 4,278 6,377 52,129 497,898

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 39,730
At 31 December 2023 39,730
DEPRECIATION
Charge for year 9,932
At 31 December 2023 9,932
NET BOOK VALUE
At 31 December 2023 29,798

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,883
Amounts owed by associates 9,522 26,265
Other debtors 1,755 -
11,277 28,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,315 -
Trade creditors 2,146 9,804
Amounts owed to associates 11,007 500
Taxation and social security 23,020 28,607
Other creditors 6,220 2,150
46,708 41,061

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 25,034 -

OCEAN QUAY MARINA LTD (REGISTERED NUMBER: 03959451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. RELATED PARTY DISCLOSURES

At the balance sheet date, £11,007 (2022 - £500) was due to associated companies and £9,522 (2022 - £26,265) was due to associated companies. These amounts are interest free and repayable on demand.