Acorah Software Products - Accounts Production 16.2.850 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 03794013 Mr Jeremy Rose Miss Natalie Rose Miss Megan Rose iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03794013 2023-08-31 03794013 2024-08-31 03794013 2023-09-01 2024-08-31 03794013 frs-core:CurrentFinancialInstruments 2024-08-31 03794013 frs-core:ComputerEquipment 2024-08-31 03794013 frs-core:ComputerEquipment 2023-09-01 2024-08-31 03794013 frs-core:ComputerEquipment 2023-08-31 03794013 frs-core:FurnitureFittings 2024-08-31 03794013 frs-core:FurnitureFittings 2023-09-01 2024-08-31 03794013 frs-core:FurnitureFittings 2023-08-31 03794013 frs-core:MotorVehicles 2024-08-31 03794013 frs-core:MotorVehicles 2023-09-01 2024-08-31 03794013 frs-core:MotorVehicles 2023-08-31 03794013 frs-core:ShareCapital 2024-08-31 03794013 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 03794013 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03794013 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 03794013 frs-bus:SmallEntities 2023-09-01 2024-08-31 03794013 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 03794013 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03794013 frs-bus:Director1 2023-09-01 2024-08-31 03794013 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 03794013 frs-bus:CompanySecretary2 2023-09-01 2024-08-31 03794013 frs-core:CurrentFinancialInstruments 2 2024-08-31 03794013 frs-countries:EnglandWales 2023-09-01 2024-08-31 03794013 2022-08-31 03794013 2023-08-31 03794013 2022-09-01 2023-08-31 03794013 frs-core:CurrentFinancialInstruments 2023-08-31 03794013 frs-core:ShareCapital 2023-08-31 03794013 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 03794013 frs-core:CurrentFinancialInstruments 1 2023-08-31 03794013 frs-core:CurrentFinancialInstruments 2 2023-08-31
Registered number: 03794013
Ocean Telecom (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Hudson LM Limited
Castle Court
Castle Street
Whittington, Oswestry
Shropshire
SY11 4DF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03794013
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,963 44,813
38,963 44,813
CURRENT ASSETS
Stocks 5 9,330 17,036
Debtors 6 112,581 150,248
Cash at bank and in hand 234,453 174,477
356,364 341,761
Creditors: Amounts Falling Due Within One Year 7 (201,389 ) (221,337 )
NET CURRENT ASSETS (LIABILITIES) 154,975 120,424
TOTAL ASSETS LESS CURRENT LIABILITIES 193,938 165,237
NET ASSETS 193,938 165,237
CAPITAL AND RESERVES
Called up share capital 8 4 4
Profit and Loss Account 193,934 165,233
SHAREHOLDERS' FUNDS 193,938 165,237
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For the year ending 31 August 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 Jeremy Rose
Director
31 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ocean Telecom (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03794013 . The registered office is 81 Beatrice Street , Oswestry, Shropshire , SY11 1HL.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Motor Vehicles 25%
Fixtures & Fittings 15%
Computer Equipment 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 11,336 47,496 11,450 70,282
Additions - 400 1,205 1,605
As at 31 August 2024 11,336 47,896 12,655 71,887
Depreciation
As at 1 September 2023 9,319 9,293 6,857 25,469
Provided during the period 504 5,790 1,161 7,455
As at 31 August 2024 9,823 15,083 8,018 32,924
Net Book Value
As at 31 August 2024 1,513 32,813 4,637 38,963
As at 1 September 2023 2,017 38,203 4,593 44,813
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5. Stocks
2024 2023
£ £
Stocks 9,330 17,036
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 21,411 37,268
Prepayments and accrued income 18,679 18,710
Amounts owed by Office 81 Ltd 72,402 72,402
Other debtors (1) - 21,868
Sundry debtors 89 -
112,581 150,248
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 79,614 82,785
Corporation tax 23,798 14,194
Other taxes and social security 100 100
VAT 43,144 45,757
Accruals and deferred income 11,372 47,362
Director's loan account 43,361 31,139
201,389 221,337
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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