REGISTERED NUMBER: 06498003 (England and Wales)

OCEAN 247 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 23 DECEMBER 2024

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

27,338

Tangible assets

5

-

-

-

27,338

CURRENT ASSETS

Debtors

1,893

1,893

CREDITORS

Amounts falling due within one year

2,154

1,854

NET CURRENT (LIABILITIES)/ASSETS

(261

)

39

TOTAL ASSETS LESS CURRENT LIABILITIES

(261

)

27,377

CREDITORS

Amounts falling due after more than one year

308,973

308,973

NET LIABILITIES

(309,234

)

(281,596

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(309,236

)

(281,598

)

SHAREHOLDERS' FUNDS

(309,234

)

(281,596

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 23 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 23 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 23 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Mr M J Yeo - Director

1.	STATUTORY INFORMATION

Ocean 247 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06498003

Registered office:

Yelverton House

St John Street

Whitland

Carmarthenshire

SA34 0AW

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.

The directors have a reasonable expectation that the company has access to adequate funding, as well as the ongoing support of its directors and their close family members, for it to continue trading for the foreseeable future. Therefore the directors continue to adopt the going concern basis of accounting.

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.

Brands are being amortised over their estimated useful economic life.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 24 December 2023

and 23 December 2024

84,319

AMORTISATION

At 24 December 2023

56,981

Amortisation for year

27,338

At 23 December 2024

84,319

NET BOOK VALUE

At 23 December 2024

-

At 23 December 2023

27,338

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 24 December 2023

and 23 December 2024

1,699

DEPRECIATION

At 24 December 2023

and 23 December 2024

1,699

NET BOOK VALUE

At 23 December 2024

-

At 23 December 2023

-

6.	ULTIMATE CONTROLLING PARTY

The company is controlled by Premium Cycle Brands Ltd by virtue of its shareholding..