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REGISTERED NUMBER: 06857284 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OCEAN COLOUR PRINT LIMITED

OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEAN COLOUR PRINT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: W C Osborn





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 06857284 (England and Wales)





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

OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 28,220 26,671
28,220 26,671

CURRENT ASSETS
Debtors 6 70,272 121,285
Cash at bank 70,405 45,866
140,677 167,151
CREDITORS
Amounts falling due within one year 7 50,828 64,726
NET CURRENT ASSETS 89,849 102,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

118,069

129,096

CREDITORS
Amounts falling due after more than one
year

8

(15,834

)

(25,833

)

PROVISIONS FOR LIABILITIES (7,055 ) (6,668 )
NET ASSETS 95,180 96,595

OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 95,080 96,495
SHAREHOLDERS' FUNDS 95,180 96,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





W C Osborn - Director


OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Ocean Colour Print 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 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.


OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


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
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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,000
AMORTISATION
At 1 April 2023
and 31 March 2024 2,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 36,216 27,000 63,216
Additions 9,869 - 9,869
At 31 March 2024 46,085 27,000 73,085
DEPRECIATION
At 1 April 2023 29,795 6,750 36,545
Charge for year 3,258 5,062 8,320
At 31 March 2024 33,053 11,812 44,865
NET BOOK VALUE
At 31 March 2024 13,032 15,188 28,220
At 31 March 2023 6,421 20,250 26,671

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 45,466 68,697
Other debtors 24,806 52,588
70,272 121,285

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 5,834 16,591
Taxation and social security 20,282 27,009
Other creditors 14,712 11,126
50,828 64,726

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 15,834 25,833

OCEAN COLOUR PRINT LIMITED (REGISTERED NUMBER: 06857284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. RELATED PARTY DISCLOSURES

The company has received loans from its directors amounting to £5,694 (2023 £4,484). No fixed terms of repayment or interest have been agreed on these loans.