IRIS Accounts Production v24.3.0.553 04820370 director 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh048203702023-04-30048203702024-04-30048203702023-05-012024-04-30048203702022-04-30048203702022-05-012023-04-30048203702023-04-3004820370ns15:EnglandWales2023-05-012024-04-3004820370ns14:PoundSterling2023-05-012024-04-3004820370ns10:Director12023-05-012024-04-3004820370ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3004820370ns10:SmallEntities2023-05-012024-04-3004820370ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3004820370ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3004820370ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3004820370ns10:FullAccounts2023-05-012024-04-300482037012023-05-012024-04-3004820370ns10:OrdinaryShareClass12023-05-012024-04-3004820370ns10:RegisteredOffice2023-05-012024-04-3004820370ns5:CurrentFinancialInstruments2024-04-3004820370ns5:CurrentFinancialInstruments2023-04-3004820370ns5:ShareCapital2024-04-3004820370ns5:ShareCapital2023-04-3004820370ns5:RetainedEarningsAccumulatedLosses2024-04-3004820370ns5:RetainedEarningsAccumulatedLosses2023-04-3004820370ns5:NetGoodwill2023-05-012024-04-3004820370ns5:NetGoodwill2023-04-3004820370ns5:NetGoodwill2024-04-3004820370ns5:NetGoodwill2023-04-3004820370ns5:FurnitureFittings2023-04-3004820370ns5:FurnitureFittings2023-05-012024-04-3004820370ns5:FurnitureFittings2024-04-3004820370ns5:FurnitureFittings2023-04-3004820370ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3004820370ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3004820370ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 04820370 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

OCEANCROSS LIMITED

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEANCROSS LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2024







DIRECTOR: Mr A Goorwappa





REGISTERED OFFICE: Grace Lodge Nursing Home
3 Grace Road
Liverpool
L9 2DB





REGISTERED NUMBER: 04820370 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

BALANCE SHEET
30th April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 50,839 55,666
50,839 55,666

CURRENT ASSETS
Debtors 6 957,016 1,150,975
Cash at bank and in hand 158,769 92,153
1,115,785 1,243,128
CREDITORS
Amounts falling due within one year 7 (230,681 ) (293,988 )
NET CURRENT ASSETS 885,104 949,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

935,943

1,004,806

PROVISIONS FOR LIABILITIES - (12,373 )
NET ASSETS 935,943 992,433

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 935,942 992,432
SHAREHOLDERS' FUNDS 935,943 992,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

BALANCE SHEET - continued
30th April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st January 2025 and were signed by:





Mr A Goorwappa - Director


OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024


1. STATUTORY INFORMATION

Oceancross Limited is a private company, limited by shares, registered in England and Wales, registration number 04820370. The address of the registered office and principle trade of business is Grace Lodge Nursing Home, 3 Grace Road, Liverpool, England, L9 2DB.

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 amounts recognised by the company in respect of services supplied, exclusive of value added tax and trade discounts. Turnover principally consists of residential care services, where net takings are recognised as earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, was fully written off in the previous years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittingsBetween 10% and 25% on cost

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 47 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023 279,000
Disposals (279,000 )
At 30th April 2024 -
AMORTISATION
At 1st May 2023 279,000
Eliminated on disposal (279,000 )
At 30th April 2024 -
NET BOOK VALUE
At 30th April 2024 -
At 30th April 2023 -

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st May 2023 397,460
Additions 10,067
At 30th April 2024 407,527
DEPRECIATION
At 1st May 2023 341,794
Charge for year 14,894
At 30th April 2024 356,688
NET BOOK VALUE
At 30th April 2024 50,839
At 30th April 2023 55,666

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 159,516 200,067
Amounts owed by group undertakings 758,174 921,781
Other debtors 39,326 29,127
957,016 1,150,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 47,389 29,887
Taxation and social security 17,474 72,626
Other creditors 165,818 191,475
230,681 293,988

8. SECURED DEBTS

Barclays Bank PLC holds a charge, dated 30 April 2015, creating a floating charge over all the property or undertaking of the group.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is an amount owed from the director amounting to £3,919 (2023: £4,021). This balance represents an interest free loan that is repayable on demand.

OCEANCROSS LIMITED (REGISTERED NUMBER: 04820370)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


11. RELATED PARTY DISCLOSURES

Included in other debtors is an amount owed from a company under common control of £7,193 (2023: Nil). This balance represents an interest free loan that is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling party are the shareholders of the ultimate parent company, Gracelodge Holdings Limited.