Acorah Software Products - Accounts Production 16.4.675 false true true false 18 September 2023 31 December 2024 31 December 2024 15145460 C Ogilvie B Backwell A R Bruce H Den Rooijen K Hughes K Sinha R E Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15145460 2023-09-17 15145460 2024-12-31 15145460 2023-09-18 2024-12-31 15145460 frs-core:CurrentFinancialInstruments 2024-12-31 15145460 frs-core:ComputerEquipment 2024-12-31 15145460 frs-core:ComputerEquipment 2023-09-18 2024-12-31 15145460 frs-core:ComputerEquipment 2023-09-17 15145460 frs-core:FurnitureFittings 2024-12-31 15145460 frs-core:FurnitureFittings 2023-09-18 2024-12-31 15145460 frs-core:FurnitureFittings 2023-09-17 15145460 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15145460 frs-bus:CompanyLimitedByGuarantee 2023-09-18 2024-12-31 15145460 frs-bus:FilletedAccounts 2023-09-18 2024-12-31 15145460 frs-bus:SmallEntities 2023-09-18 2024-12-31 15145460 frs-bus:AuditExempt-NoAccountantsReport 2023-09-18 2024-12-31 15145460 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-18 2024-12-31 15145460 frs-bus:Director1 2023-09-18 2024-12-31 15145460 frs-bus:Director2 2023-09-18 2024-12-31 15145460 frs-bus:Director3 2023-09-18 2024-12-31 15145460 frs-bus:Director4 2023-09-18 2024-12-31 15145460 frs-bus:Director5 2023-09-18 2024-12-31 15145460 frs-bus:Director6 2023-09-18 2024-12-31 15145460 frs-bus:Director7 2023-09-18 2024-12-31 15145460 frs-countries:EnglandWales 2023-09-18 2024-12-31
Registered number: 15145460
Ocean Energy Pathway
Unaudited Financial Statements
For the Period 18 September 2023 to 31 December 2024
Mutu Accountancy
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 15145460
31 December 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 13,102
13,102
CURRENT ASSETS
Debtors 5 108,600
Cash at bank and in hand 5,539,151
5,647,751
Creditors: Amounts Falling Due Within One Year 6 (5,528,026 )
NET CURRENT ASSETS (LIABILITIES) 119,725
TOTAL ASSETS LESS CURRENT LIABILITIES 132,827
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,276 )
NET ASSETS 129,551
Income and Expenditure Account 129,551
MEMBERS' FUNDS 129,551
For the period ending 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
C Ogilvie
Director
17/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Ocean Energy Pathway is a private company, limited by guarantee, incorporated in England & Wales, registered number 15145460 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
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. Going Concern Disclosure
The company meets its day to day working capital requirements through the utilisation of its own funds. The company's forecasts and projections indicate that it is reliant on securing further funding in order to continue as a going concern for the foreseeable future.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the proviso that a material uncertainty exists over the company's future revenue streams.
2.3. Turnover
Turnover comprises of grants received in support of the company's projects and activities. 
Interest income
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.
Debtors
Short term debtors are measured at the transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Creditors
Short term creditors are measured at the transaction price, less any impairment.
2.4. 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:
Fixtures & Fittings 2 years straightline
Computer Equipment 3 years straightline
2.5. 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 surplus.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus 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 surplus. 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 surplus 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 surplus will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 2
Page 3
2.6. Taxation - continued
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 surplus or deficit for the period, 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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 7
7
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 18 September 2023 410 15,362 15,772
As at 31 December 2024 410 15,362 15,772
Depreciation
As at 18 September 2023 154 2,516 2,670
As at 31 December 2024 154 2,516 2,670
Net Book Value
As at 31 December 2024 256 12,846 13,102
As at 18 September 2023 256 12,846 13,102
5. Debtors
31 December 2024
£
Due within one year
Other debtors 108,600
6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Trade creditors 28,486
Other creditors 5,443,305
Taxation and social security 56,235
5,528,026
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
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