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Registered Number: 08564759
England and Wales

 

 

 

OCEAN AIR ACCOUNTANTS LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
Report to the directors on the preparation of the unaudited statutory accounts of OCEAN AIR ACCOUNTANTS LIMITED for the year ended 31 October 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of OCEAN AIR ACCOUNTANTS LIMITED for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of OCEAN AIR ACCOUNTANTS LIMITED, as a body, in accordance with the terms of our engagement letter dated 27 July 2025. Our work has been undertaken solely to prepare for your approval the accounts of OCEAN AIR ACCOUNTANTS LIMITED and state those matters that we have agreed to state to the Board of Directors of OCEAN AIR ACCOUNTANTS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than OCEAN AIR ACCOUNTANTS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that OCEAN AIR ACCOUNTANTS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of OCEAN AIR ACCOUNTANTS LIMITED. You consider that OCEAN AIR ACCOUNTANTS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of OCEAN AIR ACCOUNTANTS LIMITED. 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 statutory accounts
31 October 2024.



....................................................
Ocean Air Accountants Ltd
750-760 High Road Leytonstone
London
E11 3AW
27 July 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 49,214    8,807 
49,214    8,807 
Current assets      
Debtors 474,809    500,665 
Cash at bank and in hand (29)   19,975 
474,780    520,640 
Creditors: amount falling due within one year (32,910)   (54,008)
Net current assets 441,870    466,632 
 
Total assets less current liabilities 491,084    475,439 
Creditors: amount falling due after more than one year (18,034)   (29,020)
Defined benefit pension scheme asset/liability (96)   (583)
Net assets 472,954    445,836 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 472,854    445,736 
Shareholders' funds 472,954    445,836 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 July 2025 and were signed by:


-------------------------------
Iglika Halil
Director
2
General Information
OCEAN AIR ACCOUNTANTS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08564759, registration address Suite 200, 750-760 High Road , Leytonstone, London, E11 3AW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 8 yrs Straight Line
Equipment 4 yrs Straight Line
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Equipment   Total
  £   £   £
At 01 November 2023   37,250    37,250 
Additions 44,635    458    45,093 
Disposals    
At 31 October 2024 44,635    37,708    82,343 
Depreciation
At 01 November 2023   26,528    26,528 
Charge for year 3,255    3,346    6,601 
On disposals    
At 31 October 2024 3,255    29,874    33,129 
Net book values
Closing balance as at 31 October 2024 41,380    7,834    49,214 
Opening balance as at 01 November 2023   8,807    8,807 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

3