REGISTERED NUMBER: 05434645 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

BLUE OCEAN (SW) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D S Abraham

Mrs M L Abraham

SECRETARY:

Mrs M L Abraham

REGISTERED OFFICE:

4/5 Signal Buildings

Brunel Road

Newton Abbot

Devon

TQ12 4PB

REGISTERED NUMBER:

05434645 (England and Wales)

ACCOUNTANTS:

Marsland Nash Associates

Chartered Tax Advisers, Accountants

and Business Consultants

Vantage Point House

Silverhills Road

Decoy Industrial Estate

Newton Abbot

Devon

TQ12 5ND

BANKERS:

Lloyds

51-52 Fleet Street

Torquay

Devon

TQ2 5DW

FIXED ASSETS

Intangible assets

4

-

150

Tangible assets

5

23,159

27,625

23,159

27,775

CURRENT ASSETS

Stocks

6

500

500

Debtors

7

96,789

60,443

Cash at bank

46,585

88,279

143,874

149,222

CREDITORS

Amounts falling due within one year

8

82,158

80,394

NET CURRENT ASSETS

61,716

68,828

TOTAL ASSETS LESS CURRENT LIABILITIES

84,875

96,603

CREDITORS

Amounts falling due after more than one year

9

-

(10,015

)

PROVISIONS FOR LIABILITIES

(4,400

)

(5,249

)

NET ASSETS

80,475

81,339

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

80,375

81,239

SHAREHOLDERS' FUNDS

80,475

81,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Mr D S Abraham - Director

1.	STATUTORY INFORMATION

Blue Ocean (SW) Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

3,000

AMORTISATION

At 1 June 2024

2,850

Amortisation for year

150

At 31 May 2025

3,000

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

150

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2024

41,936

2,861

52,266

8,122

105,185

Additions

1,288

-

-

1,838

3,126

Disposals

-

-

-

(1,788

)

(1,788

)

At 31 May 2025

43,224

2,861

52,266

8,172

106,523

DEPRECIATION

At 1 June 2024

32,376

1,896

37,068

6,220

77,560

Charge for year

2,170

145

3,800

1,477

7,592

Eliminated on disposal

-

-

-

(1,788

)

(1,788

)

At 31 May 2025

34,546

2,041

40,868

5,909

83,364

NET BOOK VALUE

At 31 May 2025

8,678

820

11,398

2,263

23,159

At 31 May 2024

9,560

965

15,198

1,902

27,625

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2024

and 31 May 2025

24,350

16,296

40,646

DEPRECIATION

At 1 June 2024

19,244

14,556

33,800

Charge for year

1,021

435

1,456

At 31 May 2025

20,265

14,991

35,256

NET BOOK VALUE

At 31 May 2025

4,085

1,305

5,390

At 31 May 2024

5,106

1,740

6,846

6.

STOCKS

2025

2024

£

£

Stocks

500

500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

85,812

59,710

Directors' current accounts

6,437

-

Prepayments

4,540

733

96,789

60,443

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

6,366

10,000

Trade creditors

41,197

24,687

Tax

24,719

24,220

Social security and other taxes

2,646

795

VAT

4,488

6,446

Other creditors

125

5

Directors' current accounts

-

11,627

Accrued expenses

2,617

2,614

82,158

80,394

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

-

10,015

10.	OTHER FINANCIAL COMMITMENTS

At 31/05/2025, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £55,160 (2024 £79,984).

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

2025

2024

£

£

Mr D S Abraham and Mrs M L Abraham

Balance outstanding at start of year

(11,626

)

6,531

Amounts advanced

113,892

192,906

Amounts repaid

(95,829

)

(211,063

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,437

(11,626

)

Loan repayable on demand and interest free.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £70,500 were paid to the directors .

13.	GOVERNMENT GUARANTEED LOAN

The bank loan of £6,366 is a COVID-19 Bounce Back Loan, guaranteed by the government. Term runs to April 2026.