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Registered number: 11803065
Two Oceans Strategy Limited
Unaudited Financial Statements
For the Period 1 April 2024 to 30 November 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11803065
30 November 2024 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 1,765
- 1,765
CURRENT ASSETS
Debtors 6 69,369 81,205
Cash at bank and in hand 162,460 15,197
231,829 96,402
Creditors: Amounts Falling Due Within One Year 7 (1,827 ) (117,949 )
NET CURRENT ASSETS (LIABILITIES) 230,002 (21,547 )
TOTAL ASSETS LESS CURRENT LIABILITIES 230,002 (19,782 )
NET ASSETS/(LIABILITIES) 230,002 (19,782 )
CAPITAL AND RESERVES
Called up share capital 8 111 111
Share premium account 299,990 299,990
Profit and Loss Account (70,099 ) (319,883 )
SHAREHOLDERS' FUNDS 230,002 (19,782)
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For the period ending 30 November 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 Thomas Mills
Director
13th March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Two Oceans Strategy Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11803065 . The registered office is Castle House, Castle Street, Guildford, GU1 3UW.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Fixtures & Fittings 33.3% on cost
Computer Equipment 33.3% on cost
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.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.6. Investments
All investment are carried at fair value determined annually and derived from the current market values. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2024: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 1,860 5,574 7,434
Disposals (1,860 ) (5,574 ) (7,434 )
As at 30 November 2024 - - -
Depreciation
As at 1 April 2024 1,552 4,117 5,669
Provided during the period 308 586 894
Disposals (1,860 ) (4,703 ) (6,563 )
As at 30 November 2024 - - -
Net Book Value
As at 30 November 2024 - - -
As at 1 April 2024 308 1,457 1,765
5. Investments
Unlisted
£
Cost
As at 1 April 2024 10,235
As at 30 November 2024 10,235
Provision
As at 1 April 2024 10,235
As at 30 November 2024 10,235
Net Book Value
As at 30 November 2024 -
As at 1 April 2024 -
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6. Debtors
30 November 2024 31 March 2024
£ £
Due within one year
Trade debtors 1 24,002
Amounts owed by group undertakings - 53,554
Other debtors 69,368 3,649
69,369 81,205
7. Creditors: Amounts Falling Due Within One Year
30 November 2024 31 March 2024
£ £
Other creditors 1,827 96,619
Taxation and social security - 21,330
1,827 117,949
8. Share Capital
30 November 2024 31 March 2024
£ £
Allotted, Called up and fully paid 111 111
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Thomas Mills (95,515 ) 196,552 (32,000 ) - 69,037
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
During the period, a loan of £53,554 (2024 - £53,554) owed from Two Oceans Strategy India Privated Limited, a subsidiary of Two Oceans Strategy, was written off.
11. Controlling Party
The company's controlling party is Mr Thomas Mills by virtue of his ownership of 90.5% of the issued share capital in the company.
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12. Going Concern
The director has stopped trading and plans to close the company within the next 12 months, therefore the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.
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