Company registration number 13910899 (England and Wales)
OCEAN AND COASTAL FUTURES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
OCEAN AND COASTAL FUTURES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
OCEAN AND COASTAL FUTURES LTD
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
25,480
38,220
Tangible assets
5
619
825
26,099
39,045
Current assets
Debtors
6
17,989
5,939
Cash at bank and in hand
30,695
45,658
48,684
51,597
Creditors: amounts falling due within one year
7
(114,202)
(63,649)
Net current liabilities
(65,518)
(12,052)
Total assets less current liabilities
(39,419)
26,993
Provisions for liabilities
-
0
(145)
Net (liabilities)/assets
(39,419)
26,848
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
(39,422)
26,845
Total equity
(39,419)
26,848
OCEAN AND COASTAL FUTURES LTD
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -

For the financial year ended 28 February 2025 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 July 2025 and are signed on its behalf by:
Professor D J Howell
Dr D Tudor
Director
Director
Dr N J B Bradshaw
Director
Company registration number 13910899 (England and Wales)
OCEAN AND COASTAL FUTURES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Ocean and Coastal Futures Ltd is a private company limited by shares incorporated in England and Wales (company number 13910899). The registered office is 50 Belmont Road, St Andrews, Bristol, BS6 5AT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, despite the negative balance sheet position at the year end. The Company has no external finance and retains the support of the Directors and companies under their control. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

OCEAN AND COASTAL FUTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.7
Financial instruments

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 instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.8
Equity instruments

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

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

OCEAN AND COASTAL FUTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
1
4
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2024 and 28 February 2025
63,700
Amortisation and impairment
At 1 March 2024
25,480
Amortisation charged for the year
12,740
At 28 February 2025
38,220
Carrying amount
At 28 February 2025
25,480
At 29 February 2024
38,220
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2024 and 28 February 2025
1,100
Depreciation and impairment
At 1 March 2024
275
Depreciation charged in the year
206
At 28 February 2025
481
Carrying amount
At 28 February 2025
619
At 29 February 2024
825
OCEAN AND COASTAL FUTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
9,353
4,285
Corporation tax recoverable
5,201
-
0
Other debtors
3,435
1,654
17,989
5,939
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
31,571
2,635
Corporation tax
-
0
5,201
Other taxation and social security
4,904
4,634
Other creditors
77,727
51,179
114,202
63,649
2025-02-282024-03-01falsefalsefalse18 July 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityProfessor D J HowellMr D TudorDr N J B Bradshaw139108992024-03-012025-02-28139108992025-02-28139108992024-02-2913910899core:NetGoodwill2025-02-2813910899core:NetGoodwill2024-02-2913910899core:OtherPropertyPlantEquipment2025-02-2813910899core:OtherPropertyPlantEquipment2024-02-2913910899core:CurrentFinancialInstrumentscore:WithinOneYear2025-02-2813910899core:CurrentFinancialInstrumentscore:WithinOneYear2024-02-2913910899core:ShareCapital2025-02-2813910899core:ShareCapital2024-02-2913910899core:RetainedEarningsAccumulatedLosses2025-02-2813910899core:RetainedEarningsAccumulatedLosses2024-02-2913910899bus:Director12024-03-012025-02-2813910899bus:Director22024-03-012025-02-2813910899bus:Director32024-03-012025-02-2813910899core:Goodwill2024-03-012025-02-2813910899core:ComputerEquipment2024-03-012025-02-28139108992023-03-012024-02-2913910899core:NetGoodwill2024-02-2913910899core:NetGoodwill2024-03-012025-02-2813910899core:OtherPropertyPlantEquipment2024-02-2913910899core:OtherPropertyPlantEquipment2024-03-012025-02-2813910899core:CurrentFinancialInstruments2025-02-2813910899core:CurrentFinancialInstruments2024-02-2913910899core:WithinOneYear2025-02-2813910899core:WithinOneYear2024-02-2913910899bus:PrivateLimitedCompanyLtd2024-03-012025-02-2813910899bus:SmallCompaniesRegimeForAccounts2024-03-012025-02-2813910899bus:FRS1022024-03-012025-02-2813910899bus:AuditExemptWithAccountantsReport2024-03-012025-02-2813910899bus:FullAccounts2024-03-012025-02-28xbrli:purexbrli:sharesiso4217:GBP