REGISTERED NUMBER: OC370643 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Ocean Portfolio LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Ocean Portfolio LLP for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Ocean Portfolio LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ocean Portfolio LLP and state those matters that we have agreed to state to the members of Ocean Portfolio LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ocean Portfolio LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Ocean Portfolio LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ocean Portfolio LLP. You consider that Ocean Portfolio LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ocean Portfolio LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

17 December 2025

FIXED ASSETS

Investment property

4

440,000

440,000

CURRENT ASSETS

Debtors

5

582

1,522

Cash at bank

2,277

5,771

2,859

7,293

CREDITORS

Amounts falling due within one year

6

9,736

8,689

NET CURRENT LIABILITIES

(6,877

)

(1,396

)

TOTAL ASSETS LESS CURRENT LIABILITIES

433,123

438,604

CREDITORS

Amounts falling due after more than one year

7

10,312

19,940

NET ASSETS ATTRIBUTABLE TO MEMBERS

422,811

418,664

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

422,811

418,664

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

422,811

418,664

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 17 December 2025 and were signed by:

R B Sherwin - Designated member

1.	STATUTORY INFORMATION

Ocean Portfolio LLP is registered in England and Wales. The LLP's registered number is OC370643 and the registered office address is Unit C4, Southpoint Industrial Estate, Foreshore Road, Cardiff, CF10 4SP.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the rent received by the LLP in the accounting period.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

440,000

NET BOOK VALUE

At 31 March 2025

440,000

At 31 March 2024

440,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

98,167

Valuation in 2017

106,000

Valuation in 2019

99,000

Cost

136,833

440,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

582

1,522

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loan and overdrafts

8,594

7,560

Accruals and deferred income

1,142

1,129

9,736

8,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loan due > 1 year

10,312

19,940

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loan

18,906

27,500

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari pasu with other creditors in accordance with the members' agreement.