Oceanic Wingsails Ltd
for the Year Ended 31 March 2026
Registration number:
Oceanic Wingsails Ltd
Contents
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Statement of financial position |
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Notes to the Unaudited Financial Statements |
Oceanic Wingsails Ltd
(Registration number: 10386330)
Statement of financial position as at 31 March 2026
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Note |
2026 |
2025 |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
3,500 |
3,500 |
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Retained earnings |
(56,162) |
(45,651) |
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Shareholders' deficit |
(52,662) |
(42,151) |
For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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.........................................
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Oceanic Wingsails Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Oceanic Wingsails Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Creditors |
Creditors: amounts falling due within one year
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2026 |
2025 |
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Due within one year |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2026 |
2025 |
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No. |
£ |
No. |
£ |
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3,500 |
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3,500 |