IRIS Accounts Production v24.2.0.383 07685075 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076850752022-12-31076850752023-12-31076850752023-01-012023-12-31076850752021-12-31076850752022-01-012022-12-31076850752022-12-3107685075ns15:EnglandWales2023-01-012023-12-3107685075ns14:PoundSterling2023-01-012023-12-3107685075ns10:Director12023-01-012023-12-3107685075ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107685075ns10:SmallEntities2023-01-012023-12-3107685075ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3107685075ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107685075ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107685075ns10:FullAccounts2023-01-012023-12-3107685075ns10:CompanySecretary12023-01-012023-12-3107685075ns10:RegisteredOffice2023-01-012023-12-3107685075ns5:CurrentFinancialInstruments2023-12-3107685075ns5:CurrentFinancialInstruments2022-12-3107685075ns5:Non-currentFinancialInstruments2023-12-3107685075ns5:Non-currentFinancialInstruments2022-12-3107685075ns5:ShareCapital2023-12-3107685075ns5:ShareCapital2022-12-3107685075ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3107685075ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3107685075ns5:RetainedEarningsAccumulatedLosses2023-12-3107685075ns5:RetainedEarningsAccumulatedLosses2022-12-3107685075ns5:PlantMachinery2023-01-012023-12-3107685075ns5:FurnitureFittings2023-01-012023-12-3107685075ns5:MotorVehicles2023-01-012023-12-3107685075ns5:PlantMachinery2022-12-3107685075ns5:FurnitureFittings2022-12-3107685075ns5:MotorVehicles2022-12-3107685075ns5:ComputerEquipment2022-12-3107685075ns5:ComputerEquipment2023-01-012023-12-3107685075ns5:PlantMachinery2023-12-3107685075ns5:FurnitureFittings2023-12-3107685075ns5:MotorVehicles2023-12-3107685075ns5:ComputerEquipment2023-12-3107685075ns5:PlantMachinery2022-12-3107685075ns5:FurnitureFittings2022-12-3107685075ns5:MotorVehicles2022-12-3107685075ns5:ComputerEquipment2022-12-3107685075ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3107685075ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3107685075ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3107685075ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3107685075ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107685075ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107685075ns5:Secured2023-12-3107685075ns5:Secured2022-12-31
REGISTERED NUMBER: 07685075 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

OCEAN QUAY INVESTMENTS LIMITED

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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 INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: B Davies





SECRETARY: Z R French





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 07685075 (England and Wales)





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

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116,434 156,907
Investment property 5 7,380,727 7,380,727
7,497,161 7,537,634

CURRENT ASSETS
Stocks 20,000 27,954
Debtors 6 37,534 74,371
Cash at bank and in hand 81,262 126,090
138,796 228,415
CREDITORS
Amounts falling due within one year 7 653,687 665,434
NET CURRENT LIABILITIES (514,891 ) (437,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,982,270

7,100,615

CREDITORS
Amounts falling due after more than one
year

8

(1,176,951

)

(1,413,882

)

PROVISIONS FOR LIABILITIES (912,034 ) (907,169 )
NET ASSETS 4,893,285 4,779,564

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Other reserve - revaluation 10 3,157,386 3,157,386
Retained earnings 10 1,735,699 1,621,978
SHAREHOLDERS' FUNDS 4,893,285 4,779,564

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 director acknowledges his 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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 July 2024 and were signed by:





B Davies - Director


OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


1. STATUTORY INFORMATION

Ocean Quay Investments Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable during the year, excluding 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.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on cost

Investment property
As required by FRS102 Section 1A investment property is included in the financial statements at fair value.
Any surplus (or deficit) is included in the accounts as a non distributable reserve.

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 year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


2. ACCOUNTING POLICIES - continued
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.

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.

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 year was 2 (2022 - 2 ) .

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 166,843 4,094 95,155 5,843 271,935
DEPRECIATION
At 1 January 2023 81,302 4,094 23,789 5,843 115,028
Charge for year 16,684 - 23,789 - 40,473
At 31 December 2023 97,986 4,094 47,578 5,843 155,501
NET BOOK VALUE
At 31 December 2023 68,857 - 47,577 - 116,434
At 31 December 2022 85,541 - 71,366 - 156,907

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 95,155
DEPRECIATION
At 1 January 2023 23,789
Charge for year 23,789
At 31 December 2023 47,578
NET BOOK VALUE
At 31 December 2023 47,577
At 31 December 2022 71,366

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 7,380,727
NET BOOK VALUE
At 31 December 2023 7,380,727
At 31 December 2022 7,380,727

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 1,158,117
Valuation in 2020 2,882,195
Cost 3,340,415
7,380,727

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,340,415 3,340,415

Investment properties were valued on an open market basis on 4 December 2020 by chartered surveyors Savills (UK) Limited .

The director does not consider the current value of the property to be materially different from the value shown in the accounts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,028 34,531
Amounts owed by group undertakings - 100
Other debtors 30,506 39,740
37,534 74,371

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 224,965 221,767
Hire purchase contracts 16,458 15,646
Trade creditors 45,147 63,584
Amounts owed to group undertakings 209,694 209,694
Taxation and social security 80,555 79,314
Other creditors 76,868 75,429
653,687 665,434

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 1,129,621 1,350,094
Hire purchase contracts 47,330 63,788
1,176,951 1,413,882

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 371,331 486,320

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,354,586 1,571,861
Hire purchase contracts 63,788 79,434
1,418,374 1,651,295

OCEAN QUAY INVESTMENTS LIMITED (REGISTERED NUMBER: 0768

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


10. RESERVES
Other
Retained reserve -
earnings revaluation Totals
£    £    £   

At 1 January 2023 1,621,978 3,157,386 4,779,364
Profit for the year 113,721 113,721
At 31 December 2023 1,735,699 3,157,386 4,893,085

11. CONTINGENT LIABILITIES

There is a contingent liability amounting to £94,514 (2022 - £94,514) in respect of a loan to the parent company, Ocean Quay Property Company Limited which has been cross guaranteed by Ocean Quay Investments Limited.

12. RELATED PARTY DISCLOSURES

TRANSACTIONS WITH GROUP COMPANIES

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to group companies at the balance sheet date amounted to £209,694 (2022 - £209,694).

TRANSACTIONS WITH COMPANIES UNDER COMMON OWNERSHIP

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from/(to) companies under common ownership at the balance sheet date amounted to £19,247 (2022 - £8,740/£(16,743)).

13. CONTROLLING PARTY

The company's parent company is Ocean Quay Property Company Ltd, a company incorporated in England and Wales (number 07881484).