Ocean Serviced Apartments Limited

Registered number

07114032

Unaudited Filleted Accounts

28 February 2025

Ocean Serviced Apartments Limited
Registered number:		07114032
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		230,300			25,420

Current assets
Debtors	4	1,017			5,019
Cash at bank and in hand		132,579			143,010
		133,596			148,029

Creditors: amounts falling due within one year	5	(157,040)			(73,134)

Net current (liabilities)/assets			(23,444)			74,895

Total assets less current liabilities			206,856			100,315

Creditors: amounts falling due after more than one year	6		(8,612)			(25,116)

Provisions for liabilities			(4,992)			(4,830)


Net assets			193,252			70,369

Capital and reserves
Called up share capital			900			900
Profit and loss account			192,352			69,469

Shareholders' funds			193,252			70,369

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Marc Myburgh
Director
Approved by the board on 1 October 2025

Ocean Serviced Apartments Limited
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years
	Plant and machinery			40% reducing balance
	Motor vehicles			25% reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					18		18


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 March 2024	-		212,114		27,901		240,015
	Additions	214,625		1,971		-		216,596
	At 28 February 2025	214,625		214,085		27,901		456,611

	Depreciation
	At 1 March 2024	-		206,312		8,283		214,595
	Charge for the year	4,293		2,518		4,905		11,716
	At 28 February 2025	4,293		208,830		13,188		226,311

	Net book value
	At 28 February 2025	210,332		5,255		14,713		230,300
	At 29 February 2024	-		5,802		19,618		25,420


4	Debtors					2025		2024
£							£

	Other debtors					1,017		5,019


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					10,419		10,166
	Obligations under finance lease and hire purchase contracts					6,090		6,090
	Taxation and social security costs					67,608		35,427
	Other creditors					72,923		21,451
						157,040		73,134


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					3,537		13,950
	Obligations under finance lease and hire purchase contracts					5,075		11,166
						8,612		25,116


7	Pension commitments

	The company operates defined contribution pension schemes. The assets of the schemes are held in independently administered funds. At the balance sheet date unpaid contributions of £1,372 (2024 - £1,029) were included in other creditors.


8	Other information

	Ocean Serviced Apartments Limited is a private company limited by shares and incorporated in England. Its registered office is:
	5 Brayford Square
	London
	E1 0SG