Oceanwise Limited


Directors	Katriona Jane EADES
	Dr Michael John OSBORNE
	Caroline LEVEY
	Anthony Mark JONAS
	John Gratton PEPPER


Registered Address	2 Upperton Gardens
	Eastbourne
	BN21 2AH


Registered Number	07206926 (England and Wales)

Statement of Financial Position
31 August 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		12,000		24,000
Tangible assets	4		42,636		55,549
			54,636		79,549
Current assets
Stocks	5	38,000		38,450
Debtors	6	444,026		336,360
Cash at bank and on hand		220,206		295,040
		702,232		669,850
Creditors amounts falling due within one year	7	(290,578)		(296,436)
Net current assets (liabilities)			411,654		373,414
Total assets less current liabilities			466,290		452,963
Creditors amounts falling due after one year	8		-		(11,627)
Provisions for liabilities	9		(10,659)		(13,886)
Net assets			455,631		427,450
Capital and reserves
Called up share capital			926		951
Share premium			293		581
Profit and loss account			454,412		425,918
Shareholders' funds			455,631		427,450

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2026, and are signed on its behalf by:

Dr Michael John OSBORNE
Director
Registered Company No. 07206926

Oceanwise Limited

Notes to the Financial Statements
for the year ended 31 August 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Amortisation id provided on intangible assets so as to write off the cost, les any estimated residual value, over their useful life as follows: Goodwill 10%

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Plant and machinery	25	-
Fixtures and fittings	25	-
Office Equipment	25	-

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	19		16

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 September 24	120,000
	At 31 August 25	120,000
	Amortisation and impairment
	At 01 September 24	96,000
	Charge for year	12,000
	At 31 August 25	108,000
	Net book value
	At 31 August 25	12,000
	At 31 August 24	24,000

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 September 24	174,429
	Additions	3,693
	Disposals	(4,000)
	At 31 August 25	174,122
	Depreciation and impairment
	At 01 September 24	118,879
	Charge for year	14,476
	On disposals	(1,869)
	At 31 August 25	131,487
	Net book value
	At 31 August 25	42,636
	At 31 August 24	55,549

5.	Stocks

	2025	2024
	£	£
Work in progress	38,000	38,450
Total	38,000	38,450

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	391,470	270,165
Other debtors	28,083	31,560
Prepayments and accrued income	24,473	34,635
Total	444,026	336,360

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	26,271	77,735
Bank borrowings and overdrafts	8,774	10,001
Taxation and social security	116,700	82,585
Other creditors	79,804	30,787
Accrued liabilities and deferred income	59,029	95,328
Total	290,578	296,436


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	-	11,627
Total	-	11,627

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	10,659	13,886
Total	10,659	13,886