Ocean & Mountain Explorers Limited

(Registration number: 11725792)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	77,508	98,769
Current assets
Debtors	5	186,110	90,269
Cash at bank and in hand		98,429	3,852
		284,539	94,121
Creditors: Amounts falling due within one year	6	(785,746)	(552,248)
Net current liabilities		(501,207)	(458,127)
Total assets less current liabilities		(423,699)	(359,358)
Creditors: Amounts falling due after more than one year	6	(299,715)	(298,133)
Net liabilities		(723,414)	(657,491)
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(723,514)	(657,591)
Total equity		(723,414)	(657,491)

Ocean & Mountain Explorers Limited

(Registration number: 11725792)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 20 September 2025
 

.........................................

J P Rogers
Director

Ocean & Mountain Explorers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
25 King Street
Bristol
BS1 4PB
United Kingdom

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

In accordance with his responsibilities, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements.

The company was loss making during the year to 31 December 2024 and had net current liabilities as at that date of £501,207 (2023 - £458,127). Included within liabilities due within one year is £574,299 (2023 - £537,461) owed to the director.

The director is considering the future plans for the trade of the company given the losses which the company is incurring. Meanwhile, the director confirms their ongoing support and will continue to provide working capital funds as needed. Accordingly, the director considers it appropriate to prepare these financial statements on a going concern basis.

Ocean & Mountain Explorers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of trade discounts.

The company recognises revenue as the services are delivered.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Leasehold improvements	10 years straight line
Tools and equipment	3 years straight line
Other property, plant and equipment	10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Ocean & Mountain Explorers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4	Tangible fixed assets

	Leasehold improvements £	Tools and equipment  £	Other property, plant and equipment £	Total £
Cost
At 1 January 2024	26,966	15,573	181,171	223,710
At 31 December 2024	26,966	15,573	181,171	223,710
Depreciation
At 1 January 2024	22,249	15,126	87,566	124,941
Charge for the year	2,697	447	18,117	21,261
At 31 December 2024	24,946	15,573	105,683	146,202
Carrying amount
At 31 December 2024	2,020	-	75,488	77,508
At 31 December 2023	4,717	447	93,605	98,769

Ocean & Mountain Explorers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Debtors: amounts falling due within one year

	Note	2024 £	2023 £
Amounts owed by group undertakings	8	132,749	47,075
Prepayments and accrued income		41,248	30,360
Other debtors		12,113	12,834
		186,110	90,269

6

Creditors

	Note	2024 £	2023 £
Amounts falling due within one year
Trade creditors		-	9,292
Amounts owed to group undertakings	8	200,000	-
Accruals		5,447	2,500
Bank loans		6,000	2,995
Amounts owed to director	8	574,299	537,461
		785,746	552,248

	Note	2024 £	2023 £
Due after one year
Other creditors	8	273,265	265,683
Bank loans		26,450	32,450
		299,715	298,133