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REGISTERED NUMBER: 04163331 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

OCEANSPAN LIMITED

OCEANSPAN LIMITED (REGISTERED NUMBER: 04163331)

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


OCEANSPAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: I R Doble
Mrs S R Dennis
Mrs C L Hunter





SECRETARY: I R Doble





REGISTERED OFFICE: Charwell House
16 Wilsom Road
Alton
Hampshire
GU34 2PP





REGISTERED NUMBER: 04163331 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

OCEANSPAN LIMITED (REGISTERED NUMBER: 04163331)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 279,286 289,598
Investments 5 167,270 167,270
446,556 456,868

CURRENT ASSETS
Debtors 6 65,624 317
Cash at bank 33,897 8,676
99,521 8,993
CREDITORS
Amounts falling due within one year 7 13,986 12,286
NET CURRENT ASSETS/(LIABILITIES) 85,535 (3,293 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,091

453,575

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Share premium 157,270 157,270
Retained earnings 354,821 276,305
SHAREHOLDERS' FUNDS 532,091 453,575

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 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.

OCEANSPAN LIMITED (REGISTERED NUMBER: 04163331)

BALANCE SHEET - continued
31 MARCH 2024


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 12 November 2024 and were signed on its behalf by:





I R Doble - Director


OCEANSPAN LIMITED (REGISTERED NUMBER: 04163331)

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


1. STATUTORY INFORMATION

Oceanspan 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 represents rental and similar income which is recognised on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

OCEANSPAN LIMITED (REGISTERED NUMBER: 04163331)

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


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 515,604 41,924 557,528
DEPRECIATION
At 1 April 2023 226,006 41,924 267,930
Charge for year 10,312 - 10,312
At 31 March 2024 236,318 41,924 278,242
NET BOOK VALUE
At 31 March 2024 279,286 - 279,286
At 31 March 2023 289,598 - 289,598

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 167,270
NET BOOK VALUE
At 31 March 2024 167,270
At 31 March 2023 167,270

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,307 -
Other debtors 59,317 317
65,624 317

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 11,448 9,658
VAT 2,538 2,628
13,986 12,286