REGISTERED NUMBER: 04549084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

OCEAN SUPPLIES (ST IVES) LTD

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

43,628

50,365

CURRENT ASSETS

Stocks

105,000

105,000

Debtors

5

188,491

208,558

Cash at bank and in hand

83,720

86,415

377,211

399,973

CREDITORS

Amounts falling due within one year

6

319,363

323,399

NET CURRENT ASSETS

57,848

76,574

TOTAL ASSETS LESS CURRENT LIABILITIES

101,476

126,939

CREDITORS

Amounts falling due after more than one year

7

(2,913

)

(13,347

)

PROVISIONS FOR LIABILITIES

(6,551

)

(7,831

)

NET ASSETS

92,012

105,761

CAPITAL AND RESERVES

Called up share capital

104

104

Retained earnings

91,908

105,657

SHAREHOLDERS' FUNDS

92,012

105,761

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 3 December 2025 and were signed on its behalf by:

S R Burrows - Director

1.	STATUTORY INFORMATION

Ocean Supplies (St Ives) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04549084

Registered office:

The Old School

The Stennack

St Ives

Cornwall

TR26 1QU

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.

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 etc

-

25% on reducing balance, 10% on reducing balance and Straight line over 3 years

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.

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 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

9,148

135,157

144,305

Additions

-

409

409

At 31 March 2025

9,148

135,566

144,714

DEPRECIATION

At 1 April 2024

-

93,940

93,940

Charge for year

-

7,146

7,146

At 31 March 2025

-

101,086

101,086

NET BOOK VALUE

At 31 March 2025

9,148

34,480

43,628

At 31 March 2024

9,148

41,217

50,365

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

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

61,780

DEPRECIATION

At 1 April 2024

43,628

Charge for year

2,311

At 31 March 2025

45,939

NET BOOK VALUE

At 31 March 2025

15,841

At 31 March 2024

18,152

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

170,486

189,032

Other debtors

18,005

19,526

188,491

208,558

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,181

9,929

Hire purchase contracts

-

5,623

Trade creditors

239,173

229,540

Taxation and social security

55,256

54,640

Other creditors

14,753

23,667

319,363

323,399

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,913

13,347

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

-

5,623

9.	ULTIMATE CONTROLLING PARTY

The board of directors.