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Company Registration No. 13915763 (England and Wales)
Ocean Grace Ltd Unaudited accounts for the year ended 28 February 2025
Ocean Grace Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Ocean Grace Ltd Company Information for the year ended 28 February 2025
Director
Qiaoping Chen
Company Number
13915763 (England and Wales)
Registered Office
134 Ravensmead Chard TA20 1BL
Accountants
LJW Accountants Limited 27 Hardy Avenue Dartford Kent DA1 2FE
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Ocean Grace Ltd Statement of financial position as at 28 February 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
175,683
177,383
Current assets
Cash at bank and in hand
1,262
-
Creditors: amounts falling due within one year
5
(221,327)
(211,970)
Net current liabilities
(220,065)
(211,970)
Net liabilities
(44,382)
(34,587)
Capital and reserves
Called up share capital
2
2
Profit and loss account
(44,384)
(34,589)
Shareholders' funds
(44,382)
(34,587)
For the year ending 28 February 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 February 2026 and were signed on its behalf by
Qiaoping Chen Director Company Registration No. 13915763
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Ocean Grace Ltd Notes to the Accounts for the year ended 28 February 2025
1
Statutory information
Ocean Grace Ltd is a private company, limited by shares, registered in England and Wales, registration number 13915763. The registered office is 134 Ravensmead , Chard, TA20 1BL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Nil
Plant & machinery
20% Straight Line
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Ocean Grace Ltd Notes to the Accounts for the year ended 28 February 2025
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 March 2024
170,585
8,498
179,083
At 28 February 2025
170,585
8,498
179,083
Depreciation
At 1 March 2024
-
1,700
1,700
Charge for the year
-
1,700
1,700
At 28 February 2025
-
3,400
3,400
Net book value
At 28 February 2025
170,585
5,098
175,683
At 29 February 2024
170,585
6,798
177,383
5
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
436
-
Loans from directors
220,291
211,370
Accruals
600
600
221,327
211,970
6
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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