Oceans Arena Limited 13155553 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is consultancy activities Digita Accounts Production Advanced 6.30.9574.0 true true 13155553 2023-02-01 2024-01-31 13155553 2024-01-31 13155553 bus:OrdinaryShareClass1 2024-01-31 13155553 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13155553 core:FurnitureFittingsToolsEquipment 2024-01-31 13155553 bus:SmallEntities 2023-02-01 2024-01-31 13155553 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13155553 bus:AbridgedAccounts 2023-02-01 2024-01-31 13155553 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13155553 bus:RegisteredOffice 2023-02-01 2024-01-31 13155553 bus:Director1 2023-02-01 2024-01-31 13155553 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 13155553 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13155553 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13155553 core:OfficeEquipment 2023-02-01 2024-01-31 13155553 countries:England 2023-02-01 2024-01-31 13155553 2023-01-31 13155553 core:FurnitureFittingsToolsEquipment 2023-01-31 13155553 2022-02-01 2023-01-31 13155553 2023-01-31 13155553 bus:OrdinaryShareClass1 2023-01-31 13155553 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13155553 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13155553

Oceans Arena Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2024

 

Oceans Arena Limited

(Registration number: 13155553)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

765

842

Current assets

 

Cash at bank and in hand

 

41,060

22,554

Creditors: Amounts falling due within one year

(20,840)

(7,584)

Net current assets

 

20,220

14,970

Total assets less current liabilities

 

20,985

15,812

Accruals and deferred income

 

(1,750)

(1,735)

Net assets

 

19,235

14,077

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

19,234

14,076

Shareholders' funds

 

19,235

14,077

For the financial year ending 31 January 2024 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 24 October 2024
 

 

Oceans Arena Limited

(Registration number: 13155553)
Abridged Balance Sheet as at 31 January 2024

.........................................
Ms Panayiotou
Director

 

Oceans Arena Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
45-47 Leinster Square
London
W2 4PU
England

These financial statements were authorised for issue by the director on 24 October 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 abridged 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 abridged 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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Oceans Arena Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Office Equipment

50% Straight Line Basis

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.

 

Oceans Arena Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

996

844

 

Oceans Arena Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,686

1,686

Additions

918

918

At 31 January 2024

2,604

2,604

Depreciation

At 1 February 2023

844

844

Charge for the year

995

995

At 31 January 2024

1,839

1,839

Carrying amount

At 31 January 2024

765

765

At 31 January 2023

842

842

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ORDINARY of £1 each

1

1

1

1