REGISTERED NUMBER: 09989398 (England and Wales)

Audited Financial Statements for the Year Ended 31st December 2024

for

Oceanic Systems (UK) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J P Holland

REGISTERED OFFICE:

Broadmead House

Bellingham Way

Aylesford

Kent

ME2 4DP

REGISTERED NUMBER:

09989398 (England and Wales)

AUDITORS:

Beak Kemmenoe

Chartered Accountants

& Statutory Auditors

1-3 Manor Road

Chatham

Kent

ME4 6AE

FIXED ASSETS

Intangible assets

4

348,297

423,184

Tangible assets

5

17,963

34,951

366,260

458,135

CURRENT ASSETS

Stocks

469,883

354,770

Debtors

6

330,978

96,862

Cash at bank and in hand

55,020

365,792

855,881

817,424

CREDITORS

Amounts falling due within one year

7

111,960

209,704

NET CURRENT ASSETS

743,921

607,720

TOTAL ASSETS LESS CURRENT LIABILITIES

1,110,181

1,065,855

PROVISIONS FOR LIABILITIES

91,565

68,348

NET ASSETS

1,018,616

997,507

CAPITAL AND RESERVES

Called up share capital

9

113

100

Share premium

10

49,988

-

Retained earnings

10

968,515

997,407

SHAREHOLDERS' FUNDS

1,018,616

997,507

The 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.

The financial statements were approved by the director and authorised for issue on 3rd September 2025 and were signed by:

J P Holland - Director

1.	STATUTORY INFORMATION

Oceanic Systems (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

747,960

AMORTISATION

At 1st January 2024

324,776

Charge for year

74,887

At 31st December 2024

399,663

NET BOOK VALUE

At 31st December 2024

348,297

At 31st December 2023

423,184

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

118,073

Additions

3,976

Disposals

(33,732

)

At 31st December 2024

88,317

DEPRECIATION

At 1st January 2024

83,122

Charge for year

16,312

Eliminated on disposal

(29,080

)

At 31st December 2024

70,354

NET BOOK VALUE

At 31st December 2024

17,963

At 31st December 2023

34,951

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

58,546

60,051

Amounts owed by group undertakings

243,074

-

Other debtors and prepayments

29,358

36,811

330,978

96,862

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

6,169

53,975

Corporation tax

12,331

23,756

Social security and other taxes

9,964

10,204

Other creditors and accruals

83,496

121,769

111,960

209,704

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Between one and five years

44,271

75,521

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

as restated

£

£

1,125

Ordinary

10p

113

100

125 Ordinary shares of 10p each were allotted as fully paid at a premium of £399.90 per share during the year.

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st January 2024

997,407

-

997,407

Profit for the year

22,543

22,543

Dividends

(51,435

)

(51,435

)

Cash share issue

-

49,988

49,988

At 31st December 2024

968,515

49,988

1,018,503

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ronald D Price FCA (Senior Statutory Auditor)

for and on behalf of Beak Kemmenoe