Oceanic (Gosport) Limited

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

Registered number: 09449406

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		2,000,000		2,000,000

			2,000,000		2,000,000
CURRENT ASSETS
Debtors	5	11,118		18,075
Cash at bank and in hand		11,003		794

		22,121		18,869
Creditors: Amounts Falling Due Within One Year	7	(736 )		(54,250 )

NET CURRENT ASSETS (LIABILITIES)			21,385		(35,381 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,021,385		1,964,619

Creditors: Amounts Falling Due After More Than One Year	8		(1,199,943 )		(1,000,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(221,508 )		(221,508 )

NET ASSETS			599,934		743,111

CAPITAL AND RESERVES
Called up share capital	10		100		100
Fair value reserve	11		798,096		798,096
Profit and Loss Account			(198,262 )		(55,085 )

SHAREHOLDERS' FUNDS			599,934		743,111

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Oceanic (Gosport) Limited

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 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 H J Hutchinson Director	Mr L E Smith Director
14/10/2025

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

1. General Information

Oceanic (Gosport) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09449406 . The registered office is Oceanic House Cracknore Hard, Marchwood, Southampton, Hampshire, SO40 4ZD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

2.2. Going Concern Disclosure

The company's statement of financial position as at 31 March 2025 shows net assets of £599,934 (2024 -

£743,111). Creditors due after more than one year represent amounts due to related parties and repayment of these loans will not be sought until the company has sufficient resources to enable it to do so. The directors have reviewed the company's trading performance and financial position in light of the current economic conditions. Post balance sheet trading and ongoing support from related parties mean that the company will be able to meet its financial obligations as they fall due for at least twelve months form the date of approval of these financial statements. Consequently, the company's financial statements have been prepared on the basis that the company is a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

2.4. Investment Properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including other creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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Oceanic (Gosport) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

For non-depreciable assets measured using the revaluation model and investment properties measured at fair value (except investment property with a limited useful life held by the company to consume substantially all of its economic benefit), deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.

2.7. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2.8. Foreign Exchange

Transactions in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income, when the related translation gain or loss is also recognised in other comprehensive income.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024 and 31 March 2025	2,000,000

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

	2025	2024
	£	£
Cost	956,598	956,598

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Oceanic (Gosport) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	10,419
Prepayments and accrued income	5,608	3,756
Other debtors	-	3,900
VAT	5,510	-

	11,118	18,075

6. Current Asset Investments

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	299	(264 )
Other creditors	-	50,512
Accruals and deferred income	437	4,002

	736	54,250

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

	2025	2024
	£	£
Other creditors	1,199,943	1,000,000

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	221,508	221,508

10. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 0.10 each	100	100

11. Reserves

	Fair Value Reserve
	£
As at 1 April 2024	798,096

As at 31 March 2025	798,096

12. Related Party Transactions

Included within creditors due after more than one year is an amount of £1,199,943 (2024 - £1,000,000) due to companies with common directors. Interest of £82,431 was paid on these loans during the year (2024 - £78,128).

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