Acorah Software Products - Accounts Production 16.2.850 false true 31 October 2023 1 November 2022 true No description of principal activity 1 November 2023 31 October 2024 31 October 2024 09876045 Mr Benjamin Goode Mrs Debbie Knight iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09876045 2023-10-31 09876045 2024-10-31 09876045 2023-11-01 2024-10-31 09876045 frs-core:CurrentFinancialInstruments 2024-10-31 09876045 frs-core:Non-currentFinancialInstruments 2024-10-31 09876045 frs-core:FurnitureFittings 2024-10-31 09876045 frs-core:FurnitureFittings 2023-11-01 2024-10-31 09876045 frs-core:FurnitureFittings 2023-10-31 09876045 frs-core:PlantMachinery 2024-10-31 09876045 frs-core:PlantMachinery 2023-11-01 2024-10-31 09876045 frs-core:PlantMachinery 2023-10-31 09876045 frs-core:ShareCapital 2024-10-31 09876045 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 09876045 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 09876045 frs-bus:FullAccounts 2023-11-01 2024-10-31 09876045 frs-bus:SmallEntities 2023-11-01 2024-10-31 09876045 frs-bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 09876045 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 09876045 frs-bus:SmallCompaniesRegimeForDirectorsReport 2023-11-01 2024-10-31 09876045 frs-bus:Director1 2023-11-01 2024-10-31 09876045 frs-bus:Director2 2023-11-01 2024-10-31 09876045 frs-countries:EnglandWales 2023-11-01 2024-10-31 09876045 2022-10-31 09876045 2023-10-31 09876045 2022-11-01 2023-10-31 09876045 frs-core:CurrentFinancialInstruments 2023-10-31 09876045 frs-core:Non-currentFinancialInstruments 2023-10-31 09876045 frs-core:ShareCapital 2023-10-31 09876045 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 09876045
Oceanwide Freight Services Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 October 2024
Zynct
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6—8
Page 1
Company Information
Directors Mr Benjamin Goode
Mrs Debbie Knight
Company Number 09876045
Registered Office 12 Pease Close
Hornchurch
RM12 5AW
Accountants Zynct
20-22 Wenlock Road
London
N1 7GU
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 October 2024.
Directors
The directors who held office during the year were as follows:
Mr Benjamin Goode
Mrs Debbie Knight
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Benjamin Goode
Director
Mrs Debbie Knight
Director
11/06/2025
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Page 3
Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 October 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
11/06/2025
Zynct
20-22 Wenlock Road
London
N1 7GU
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 1,795,459 1,957,100
Cost of sales (1,514,006 ) (1,468,668 )
GROSS PROFIT 281,453 488,432
Administrative expenses (109,497 ) (116,319 )
OPERATING PROFIT 171,956 372,113
Interest payable and similar charges (2,147 ) (2,341 )
PROFIT BEFORE TAXATION 169,809 369,772
Tax on Profit (43,257 ) (84,166 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 126,552 285,606
The notes on pages 6 to 8 form part of these financial statements.
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Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 609 3,278
609 3,278
CURRENT ASSETS
Debtors 5 825,040 726,038
Cash at bank and in hand 66,206 75,504
891,246 801,542
Creditors: Amounts Falling Due Within One Year 6 (378,902 ) (286,419 )
NET CURRENT ASSETS (LIABILITIES) 512,344 515,123
TOTAL ASSETS LESS CURRENT LIABILITIES 512,953 518,401
Creditors: Amounts Falling Due After More Than One Year 7 (20,000 ) (30,000 )
NET ASSETS 492,953 488,401
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 492,853 488,301
SHAREHOLDERS' FUNDS 492,953 488,401
For the year ending 31 October 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Benjamin Goode
Director
Mrs Debbie Knight
Director
11/06/2025
The notes on pages 6 to 8 form part of these financial statements.
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Page 6
Notes to the Financial Statements
1. General Information
Oceanwide Freight Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09876045 . The registered office is 12 Pease Close, Hornchurch, RM12 5AW.
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:
Plant & Machinery 33%
Fixtures & Fittings 20%
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. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: )
4 -
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2023 6,918 13,946 20,864
Additions 64 637 701
As at 31 October 2024 6,982 14,583 21,565
Depreciation
As at 1 November 2023 6,485 11,101 17,586
Provided during the period 454 2,916 3,370
As at 31 October 2024 6,939 14,017 20,956
Net Book Value
As at 31 October 2024 43 566 609
As at 1 November 2023 433 2,845 3,278
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 309,905 261,972
Other debtors 15,135 29,066
325,040 291,038
Due after more than one year
Other debtors 500,000 435,000
825,040 726,038
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 332,354 197,322
Other creditors 100 2,005
Taxation and social security 46,448 87,092
378,902 286,419
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 20,000 30,000
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 8