Silverfin false false 31/01/2025 01/02/2024 31/01/2025 J Du Prez 15/08/1991 S H Du Prez 21/06/1995 G M Du Prez 01/08/2007 O P Du Prez 01/01/1999 N C Du Prez 01/06/2020 24 April 2025 The principal activity of the Company continued to be that of the provision of the services of entertainers worldwide. 01377311 2025-01-31 01377311 bus:Director1 2025-01-31 01377311 bus:Director2 2025-01-31 01377311 bus:Director3 2025-01-31 01377311 bus:Director4 2025-01-31 01377311 bus:Director5 2025-01-31 01377311 2024-01-31 01377311 core:CurrentFinancialInstruments 2025-01-31 01377311 core:CurrentFinancialInstruments 2024-01-31 01377311 core:ShareCapital 2025-01-31 01377311 core:ShareCapital 2024-01-31 01377311 core:RetainedEarningsAccumulatedLosses 2025-01-31 01377311 core:RetainedEarningsAccumulatedLosses 2024-01-31 01377311 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 01377311 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-31 01377311 core:PlantMachinery 2024-01-31 01377311 core:OfficeEquipment 2024-01-31 01377311 core:ComputerEquipment 2024-01-31 01377311 core:PlantMachinery 2025-01-31 01377311 core:OfficeEquipment 2025-01-31 01377311 core:ComputerEquipment 2025-01-31 01377311 core:CostValuation 2024-01-31 01377311 core:CostValuation 2025-01-31 01377311 bus:OrdinaryShareClass1 2025-01-31 01377311 2024-02-01 2025-01-31 01377311 bus:FilletedAccounts 2024-02-01 2025-01-31 01377311 bus:SmallEntities 2024-02-01 2025-01-31 01377311 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 01377311 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 01377311 bus:Director1 2024-02-01 2025-01-31 01377311 bus:Director2 2024-02-01 2025-01-31 01377311 bus:Director3 2024-02-01 2025-01-31 01377311 bus:Director4 2024-02-01 2025-01-31 01377311 bus:Director5 2024-02-01 2025-01-31 01377311 core:PatentsTrademarksLicencesConcessionsSimilar 2024-02-01 2025-01-31 01377311 core:PlantMachinery 2024-02-01 2025-01-31 01377311 core:OfficeEquipment 2024-02-01 2025-01-31 01377311 core:ComputerEquipment 2024-02-01 2025-01-31 01377311 2023-02-01 2024-01-31 01377311 core:CurrentFinancialInstruments 2024-02-01 2025-01-31 01377311 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 01377311 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01377311 (England and Wales)

OCEAN MUSIC LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

OCEAN MUSIC LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

OCEAN MUSIC LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
OCEAN MUSIC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 18,022 18,773
Tangible assets 4 4,659 6,102
Investments 5 2,925 2,925
25,606 27,800
Current assets
Debtors 6 41 0
Cash at bank and in hand 7,618 14,506
7,659 14,506
Creditors: amounts falling due within one year 7 ( 33,106) ( 39,313)
Net current liabilities (25,447) (24,807)
Total assets less current liabilities 159 2,993
Provision for liabilities ( 5,670) ( 2,245)
Net (liabilities)/assets ( 5,511) 748
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 5,611 ) 648
Total shareholder's (deficit)/funds ( 5,511) 748

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ocean Music Limited (registered number: 01377311) were approved and authorised for issue by the Board of Directors on 24 April 2025. They were signed on its behalf by:

J Du Prez
Director
OCEAN MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
OCEAN MUSIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ocean Music Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Temple Back, ,
Bristol, BS1 6FL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the
UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the
nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £5,511. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 4 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Valuation of Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 February 2024 50,000 50,000
At 31 January 2025 50,000 50,000
Accumulated amortisation
At 01 February 2024 31,227 31,227
Charge for the financial year 751 751
At 31 January 2025 31,978 31,978
Net book value
At 31 January 2025 18,022 18,022
At 31 January 2024 18,773 18,773

4. Tangible assets

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 February 2024 1,681 8,603 2,836 13,120
At 31 January 2025 1,681 8,603 2,836 13,120
Accumulated depreciation
At 01 February 2024 862 5,270 886 7,018
Charge for the financial year 123 833 487 1,443
At 31 January 2025 985 6,103 1,373 8,461
Net book value
At 31 January 2025 696 2,500 1,463 4,659
At 31 January 2024 819 3,333 1,950 6,102

5. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 February 2024 2,925
At 31 January 2025 2,925
Carrying value at 31 January 2025 2,925
Carrying value at 31 January 2024 2,925

6. Debtors

2025 2024
£ £
Other debtors 41 0

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 0 264
Amounts owed to directors 25,785 30,565
Accruals 3,700 3,720
Other taxation and social security 3,433 3,032
Other creditors 188 1,732
33,106 39,313

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

At the year end the company owed £25,785 (2024: £30,565) to the Director. This loan bears no interest and has no fixed date for repayment.

No dividends were distributed to Directors during the year (2024: £42,750).