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WOOD & OCEAN LTD

Registered Number
11138565
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

WOOD & OCEAN LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

CHENG, Hang

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

11138565 (England and Wales)
WOOD & OCEAN LTD
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets37761,202
7761,202
Current assets
Stocks49,21612,654
Debtors46991
Cash at bank and on hand3861,676
10,07114,421
Creditors amounts falling due within one year5(120,646)(127,160)
Net current assets (liabilities)(110,575)(112,739)
Total assets less current liabilities(109,799)(111,537)
Net assets(109,799)(111,537)
Capital and reserves
Profit and loss account(109,799)(111,537)
Shareholders' funds(109,799)(111,537)
The financial statements were approved and authorised for issue by the Director on 30 October 2024, and are signed on its behalf by:
CHENG, Hang
Director
Registered Company No. 11138565
WOOD & OCEAN LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 235841,9392,523
At 31 January 245841,9392,523
Depreciation and impairment
At 01 February 235457761,321
Charge for year38388426
At 31 January 245831,1641,747
Net book value
At 31 January 241775776
At 31 January 23391,1631,202
4.Stocks

2024

2023

££
Finished goods9,21612,654
Total9,21612,654
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,4782,923
Bank borrowings and overdrafts115,405121,705
Taxation and social security2,7632,532
Total120,646127,160
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.