Ocean Crescent Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 08931265

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	5		1,520,000		1,520,000

			1,520,000		1,520,000
CURRENT ASSETS
Stocks	6	2,246,082		2,246,082
Debtors	7	524,417		490,015
Cash at bank and in hand		348		19,707

		2,770,847		2,755,804
Creditors: Amounts Falling Due Within One Year	8	(661,859 )		(498,925 )

NET CURRENT ASSETS (LIABILITIES)			2,108,988		2,256,879

TOTAL ASSETS LESS CURRENT LIABILITIES			3,628,988		3,776,879

Creditors: Amounts Falling Due After More Than One Year	9		(3,753,815 )		(3,615,449 )

NET (LIABILITIES)/ASSETS			(124,827 )		161,430

CAPITAL AND RESERVES
Called up share capital	11		200		200
Other reserves			20,019		20,019
Profit and Loss Account			(145,046 )		141,211

SHAREHOLDERS' FUNDS			(124,827)		161,430

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Ocean Crescent Limited

Balance Sheet (continued)

As At 31 December 2024

For the year 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 Profit and Loss Account.

On behalf of the board

Mr Mark Edworthy Director	Mr Paul Scantlebury Director
18 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Ocean Crescent Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08931265 . The registered office is Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY.

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 has incurred a loss during the year, due to vacant office space in the company's investment property and increased costs of debt, arising from changes in wider UK economic conditions. The company's balance sheet shows an overall net liability of £124,827 (2023 - net asset of £161,430), so the Directors have had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis, as the Directors and Group companies which have provided financial support to the Company will continue to do so, to enable the company to return to profitability or to realise value through the sale of the company's assets. The Directors have reviewed the position for 12 months from the date that the accounts were approved.

2.3. Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

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:

Plant & Machinery

33% Straight Line

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

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Ocean Crescent Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	4,500

As at 31 December 2024	4,500

Depreciation
As at 1 January 2024	4,500

As at 31 December 2024	4,500

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	1,520,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	1,520,000	1,520,000

The investment properties were last formally valued by a RICS professional valuer on 23 October 2020 to be the carrying value of £1,520,000. The directors consider this to still be a fair reflection of the value at balance sheet date, having considered the state of the market and condition of the property.

6. Stocks

	2024	2023
	£	£
Work in progress	2,246,082	2,246,082

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	46,240	222,880
Amounts owed by group undertakings	60,570	65,331
Other debtors	417,607	201,804

	524,417	490,015

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Ocean Crescent Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	130,442	24,569
Bank loans and overdrafts	133,396	132,174
Other creditors	398,021	338,856
Taxation and social security	-	3,326

	661,859	498,925

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	20,450	25,288
Other loans	500,000	500,000
Amounts owed to group undertakings	3,233,365	3,090,161

	3,753,815	3,615,449

Included within non-current loans and borrowings is an amount of £500,000 (2023 - £500,000) that is owed to Prydis Security Trustees Ltd. These amounts are secured by a fixed charge over the investment property and Work-In-Progress.

10. Secured Creditors

Of the creditors the following amounts are secured by a fixed charge over the investment property.

	2024		2023
	£		£
Bank loans and overdrafts	500,000		500,000

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	200	200

12. Related Party Transactions

The property owned by the company, is used as security against loans provided to its parent company, Burrington Estates (Commercial) Limited.

13. Ultimate Controlling Party

The company's immediate parent is Burrington Estates (Commercial) Limited, incorporated in England and Wales.

The ultimate parent is Burrington Estates Commercial Holdings Limited, incorporated in England and Wales.

These financial statements are available upon request from Companies House.

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