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Registered number: 11817650
OCEAN TEN MEDIA LTD
Unaudited Financial Statements
For The Year Ended 28 February 2024
Oliver Green 11 Business Consultants
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11817650
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,926,100 1,617,150
Tangible Assets 5 31,879 85,574
Investments 6 100,000 650,000
2,057,979 2,352,724
CURRENT ASSETS
Debtors 7 3,760,273 2,719,878
Cash at bank and in hand 11,504 567,035
3,771,777 3,286,913
Creditors: Amounts Falling Due Within One Year 8 (627,434 ) (569,110 )
NET CURRENT ASSETS (LIABILITIES) 3,144,343 2,717,803
TOTAL ASSETS LESS CURRENT LIABILITIES 5,202,322 5,070,527
Creditors: Amounts Falling Due After More Than One Year 9 - (11,543,572 )
NET ASSETS/(LIABILITIES) 5,202,322 (6,473,045 )
CAPITAL AND RESERVES
Called up share capital 10 67 13
Share premium account 14,670,512 348,887
Profit and Loss Account (9,468,257 ) (6,821,945 )
SHAREHOLDERS' FUNDS 5,202,322 (6,473,045)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jasper Smith
Director
24/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
OCEAN TEN MEDIA LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11817650 . The registered office is Aberdeen House , South Road, , Haywards Heath,, RH16 4NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Software, Technology and Content related to company TV channel. It is amortised to profit and loss account over its estimated economic life of 5 years. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% per annum straight line
Computer Equipment Straight line 25% per annum
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 2,539,250
Additions 1,021,000
As at 28 February 2024 3,560,250
Amortisation
As at 1 March 2023 922,100
Provided during the period 712,050
As at 28 February 2024 1,634,150
Net Book Value
As at 28 February 2024 1,926,100
As at 1 March 2023 1,617,150
Page 3
Page 4
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 - 250,617 250,617
Additions 6,070 198 6,268
As at 28 February 2024 6,070 250,815 256,885
Depreciation
As at 1 March 2023 - 165,043 165,043
Provided during the period 434 59,529 59,963
As at 28 February 2024 434 224,572 225,006
Net Book Value
As at 28 February 2024 5,636 26,243 31,879
As at 1 March 2023 - 85,574 85,574
6. Investments
Listed
£
Cost
As at 1 March 2023 1,000,000
Disposals (370,000 )
As at 28 February 2024 630,000
Provision
As at 1 March 2023 350,000
Impairment losses 180,000
As at 28 February 2024 530,000
Net Book Value
As at 28 February 2024 100,000
As at 1 March 2023 650,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 217,714 217,714
Other debtors 3,516,857 2,484,124
VAT 25,702 18,040
3,760,273 2,719,878
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 262,897 210,073
Other loans 332,000 332,000
Other creditors 6,075 6,075
Accruals and deferred income 26,462 20,962
627,434 569,110
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 9,560,000
Accruals and deferred income - 1,983,572
- 11,543,572
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 67 13
Page 5