| Ocean22 Properties Ltd |
| Registered number: |
14537571 |
| Balance Sheet |
| as at 31 December 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
370,000 |
|
|
370,000 |
|
| Current assets |
| Cash at bank and in hand |
|
|
9,575 |
|
|
4,810 |
|
| Creditors: amounts falling due within one year |
4 |
|
(298,130) |
|
|
(307,187) |
|
| Net current liabilities |
|
|
|
(288,555) |
|
|
(302,377) |
|
| Total assets less current liabilities |
|
|
|
81,445 |
|
|
67,623 |
|
|
| Provisions for liabilities |
|
|
|
(46,765) |
|
|
(46,765) |
|
|
| Net assets |
|
|
|
34,680 |
|
|
20,858 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Undistributable reserve |
5 |
|
|
140,295 |
|
|
140,295 |
| Profit and loss account |
|
|
|
(105,715) |
|
|
(119,537) |
|
| Shareholders' funds |
|
|
|
34,680 |
|
|
20,858 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Peter Evans |
| Director |
| Approved by the board on 22 May 2026 |
|
| Ocean22 Properties Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Going concern |
|
The accounts have been prepared on the going concern basis as the directors have confirmed their continuing financial support to the company. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rental of investment properties. |
|
|
Investments |
|
Investment properties are carried at fair value, derived from the current market prices for comparable properties. Changes in fair value are recognised in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 January 2025 |
370,000 |
|
|
At 31 December 2025 |
370,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 January 2025 |
151,899 |
|
At 31 December 2025 |
151,899 |
|
|
|
|
|
|
|
|
|
|
The investment property is carried at its fair value which has been determined by the company's directors and is based on the recent selling price of comparable properties. |
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
- |
|
7,574 |
|
Other creditors |
298,130 |
|
299,613 |
|
|
|
|
|
|
298,130 |
|
307,187 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Undistributable reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 January 2025 |
140,295 |
|
- |
|
Gain on revaluation of land and buildings |
- |
|
187,060 |
|
Deferred taxation arising on the revaluation of land and buildings |
- |
|
(46,765) |
|
|
At 31 December 2025 |
140,295 |
|
140,295 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
|
|
During the current and previous years, one of the directors made loans to the company. The amount outstanding at 31 December 2025 was £279,606 (2024: £270,508). The loan is repayable on demand and accrued interest of £9,000 (2024: £16,230) during the year. |
|
|
During the current and previous year, another of the directors made loans to the company. The amount outstanding at 31 December 2025 was £8,386 (2024: £14,574). The loan is repayable on demand and is interest free. |
|
| 7 |
Other information |
|
|
Ocean22 Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
54 Mustard Lane |
|
Croft |
|
Warrington |
|
WA3 7BE |