Ocean Investments (Properties) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06305219 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Ocean Investments (Properties) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Z D Chaudhry

Mr C A Milner

Mr H Potgieter

REGISTERED OFFICE:

319B Walton Road

West Molesey

KT8 2QG

REGISTERED NUMBER:

06305219 (England and Wales)

AUDITORS:

Merit Accountants and Tax Advisors Ltd

16 Upper Woburn Place

London

WC1H 0AF

FIXED ASSETS

Tangible assets

5

-

Investment property

6

900,000

CURRENT ASSETS

Debtors

7

222,692

202,282

Cash in hand

95

31

222,787

202,313

CREDITORS

Amounts falling due within one year

8

432,876

390,287

NET CURRENT LIABILITIES

(210,089

)

(187,974

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

689,911

712,026

CREDITORS

Amounts falling due after more than one
year

9

(146,741

)

(176,687

)

PROVISIONS FOR LIABILITIES

(50,000

)

(50,000

)

NET ASSETS

493,170

485,339

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

150,000

Retained earnings

343,070

335,239

SHAREHOLDERS' FUNDS

493,170

485,339

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mr Z D Chaudhry - Director

1.	STATUTORY INFORMATION

Ocean Investments (Properties) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

The directors have formed a judgement, at the time of approving the financial statements, that although the

company has negative net current assets, there is reasonable expectation that the group has adequate resources to support the company and enable it to continue in operational existence for the foreseeable future. As such, the financial statements have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

31.3.25

31.3.24

£

Fees payable to the company's auditors for the audit of the company's
financial statements

3,692

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

5,510

DEPRECIATION

At 1 April 2024

and 31 March 2025

5,510

NET BOOK VALUE

At 31 March 2025

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

900,000

NET BOOK VALUE

At 31 March 2025

900,000

At 31 March 2024

900,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

185,714

Valuation in 2023

14,286

Cost

700,000

900,000

The directors valued the property with reference to previous professional valuations carried out by chartered surveyors on the basis of the EBITDA that the property can potentially generate being operated as a care home.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Amounts owed by group undertakings

222,692

202,282

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

32,403

28,010

Amounts owed to group undertakings

357,926

310,454

Amounts owed to participating interests

36,285

36,279

Taxation and social security

2,570

11,852

Other creditors

3,692

432,876

390,287

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Other creditors

146,741

176,687

Included in other creditors is a bank loan of £146,740 (2024: £176,687) secured against the company's assets.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hussein Bhaiji CTA, FCCA (Senior Statutory Auditor)

for and on behalf of Merit Accountants and Tax Advisors Ltd

11.	RELATED PARTY DISCLOSURES

Trustcare Management Limited is the immediate and ultimate parent company by virtue of holding 100% of the issued share capital of the company. It is a company incorporated in England and Wales and it's Registered Office is at 319B Walton Road, West Molesey, Surrey, KT8 2QG.

Management fees charged by the parent to the company was £30,785 (2024: £30,929).

Included in creditors is a loan balance of £36,279 (2024: £36,279) owed to Focus Care Supported Living Limited and £5 (2024: £Nil) to Lorac Lodge Ltd. These balances are payable on demand. These companies are considered a related party as Zameer Deen Chaudhry, a director in both companies, has significant influence in the companies.