1 September 2023 false No description of principal activity Taxfiler 2024.6 true 05208190business:PrivateLimitedCompanyLtd2023-09-012024-08-31 052081902023-08-31 052081902023-09-012024-08-31 05208190business:AuditExemptWithAccountantsReport2023-09-012024-08-31 05208190business:FilletedAccounts2023-09-012024-08-31 052081902024-08-31 05208190business:Director12023-09-012024-08-31 05208190business:RegisteredOffice2023-09-012024-08-31 052081902023-08-31 05208190core:WithinOneYear2024-08-31 05208190core:WithinOneYear2023-08-31 05208190core:AfterOneYear2024-08-31 05208190core:AfterOneYear2023-08-31 05208190core:ShareCapitalcore:PreviouslyStatedAmount2024-08-31 05208190core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 05208190core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-08-31 05208190core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 05208190core:PreviouslyStatedAmount2024-08-31 05208190core:PreviouslyStatedAmount2023-08-31 05208190business:SmallEntities2023-09-012024-08-31 05208190countries:EnglandWales2023-09-012024-08-31 05208190core:LandBuildings2023-09-012024-08-31 05208190core:PlantMachinery2023-09-012024-08-31 05208190core:LandBuildings2023-08-31 05208190core:PlantMachinery2023-08-31 05208190core:LandBuildings2024-08-31 05208190core:PlantMachinery2024-08-31 052081902022-09-012023-08-31 iso4217:GBP xbrli:pure
Company Registration No. 05208190 (England and Wales)
Ocean Tanning Ltd Unaudited accounts for the year ended 31 August 2024
Ocean Tanning Ltd Unaudited accounts Contents
Page
- 2 -
Ocean Tanning Ltd Company Information for the year ended 31 August 2024
Director
Kathleen Finegan
Company Number
05208190 (England and Wales)
Registered Office
40 Station Road Queensferry Deeside CH5 1SX Wales
- 3 -
Ocean Tanning Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,917 
28,063 
Current assets
Cash at bank and in hand
822 
4,952 
Creditors: amounts falling due within one year
(8,510)
(6,734)
Net current liabilities
(7,688)
(1,782)
Total assets less current liabilities
16,229 
26,281 
Creditors: amounts falling due after more than one year
(10,462)
(21,175)
Net assets
5,767 
5,106 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
5,766 
5,105 
Shareholders' funds
5,767 
5,106 
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 May 2025 and were signed on its behalf by
Kathleen Finegan Director Company Registration No. 05208190
- 4 -
Ocean Tanning Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Ocean Tanning Ltd is a private company, limited by shares, registered in England and Wales, registration number 05208190. The registered office is 40 Station Road, Queensferry, Deeside, CH5 1SX, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
20% Reducing Balance
Going concern
The director draws attention to the challenging trading conditions, the cost of living crisis and increase in energy costs disproportionately hit the business during this period as customers cut back on luxuries and suppliers passed in the increases in energy costs. The director expanded the capacity of the business and subsequently the energy company raised a back dated bill for the period (and historic periods) which severely impacted the additional turnover generated. The director judged that due to the offers available and expected decrease of energy in the future this would be advantageous in the medium to long term. The director was able to cover all these additional costs and also repay some of the personal investment made in previous periods. Overall the director has no concerns regarding business viability and is confident that when energy costs reduce the business will be placed perfectly to take advantage of these.
- 5 -
Ocean Tanning Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
12,645 
123,699 
136,344 
At 31 August 2024
12,645 
123,699 
136,344 
Depreciation
At 1 September 2023
3,795 
104,486 
108,281 
Charge for the year
1,265 
2,881 
4,146 
At 31 August 2024
5,060 
107,367 
112,427 
Net book value
At 31 August 2024
7,585 
16,332 
23,917 
At 31 August 2023
8,850 
19,213 
28,063 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,500 
2,500 
VAT
1,780 
- 
Taxes and social security
4,230 
4,234 
8,510 
6,734 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,406 
4,507 
Loans from directors
9,056 
16,668 
10,462 
21,175 
7
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 6 -