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REGISTERED NUMBER: 07761274 (England and Wales)












OCEANSIDE LOGISTICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEANSIDE LOGISTICS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: H J Green
Miss M A Green





REGISTERED OFFICE: Highland House
Mayflower Close
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 07761274 (England and Wales)

OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 5,000 6,000
Tangible assets 5 446,311 466,802
451,311 472,802

CURRENT ASSETS
Debtors 6 4,328,932 2,602,192
Cash at bank and in hand 36,439 89,057
4,365,371 2,691,249
CREDITORS
Amounts falling due within one year 7 (4,071,908 ) (2,315,441 )
NET CURRENT ASSETS 293,463 375,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

744,774

848,610

CREDITORS
Amounts falling due after more than one
year

8

(7,642

)

(18,482

)

PROVISIONS FOR LIABILITIES 11 (6,501 ) (9,474 )
NET ASSETS 730,631 820,654

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 730,531 820,554
SHAREHOLDERS' FUNDS 730,631 820,654

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

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

The directors acknowledge their 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.

OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 May 2025 and were signed on its behalf by:





H J Green - Director


OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Oceanside Logistics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is represented by invoiced services net of any discount and input VAT but is inclusive of duty and VAT received from customers in respect of goods forwarded and is recognised at the point of the goods being cleared through port.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Domain is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight line
Fixtures and fittings - Straight line over 3 years
Motor vehicles - 6 years straight line
Computer equipment - Straight line over 3 years

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Domain
£
COST
At 1 October 2023
and 30 September 2024 10,000
AMORTISATION
At 1 October 2023 4,000
Amortisation for year 1,000
At 30 September 2024 5,000
NET BOOK VALUE
At 30 September 2024 5,000
At 30 September 2023 6,000

OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 October 2023 447,136 23,618 76,545 67,862 615,161
Additions - - - 6,042 6,042
Disposals - (12,575 ) - - (12,575 )
At 30 September 2024 447,136 11,043 76,545 73,904 608,628
DEPRECIATION
At 1 October 2023 17,884 17,304 52,421 60,750 148,359
Charge for year 8,943 4,696 6,435 6,458 26,532
Eliminated on disposal - (12,574 ) - - (12,574 )
At 30 September 2024 26,827 9,426 58,856 67,208 162,317
NET BOOK VALUE
At 30 September 2024 420,309 1,617 17,689 6,696 446,311
At 30 September 2023 429,252 6,314 24,124 7,112 466,802

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,933,859 1,498,572
Other debtors 1,395,073 1,103,620
4,328,932 2,602,192

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 9,024 8,185
Trade creditors 2,037,870 1,211,524
Taxation and social security 163,321 178,289
Other creditors 1,861,693 917,443
4,071,908 2,315,441

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 7,642 18,482

OCEANSIDE LOGISTICS LIMITED (REGISTERED NUMBER: 07761274)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 75,141 69,924
Between one and five years 39,491 79,907
114,632 149,831

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Invoice Discounting 1,053,484 287,599

The invoice discounting facility is secured over the company's trade debtors.

11. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 6,501 9,474

Deferred tax
£
Balance at 1 October 2023 9,474
Decelerated capital allowances (2,973 )
Balance at 30 September 2024 6,501

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £154,183 (2023: £494,282) were made to the company's directors. Advances of £130,483 (2023: £441,200) were repaid prior to the year-end. The balance outstanding at the year-end was £154,183 (2023: £130,483).

The above loans are interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

At the year end the company was owed a total of £876,014 (2023: £739,863) from family members of the directors.

The above debt is interest free and repayable on demand.