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Unaudited Financial Statements Oceanic Heritage Limited For the period ended 31 March 2026 Registered number: NI722515
Oceanic Heritage Limited
Company Information
Directors | Colin Tweedie
| Karen Lennie
Registered number | NI722515
Registered office | 296-298 Upper Newtownards Road
| Belfast
| Northern Ireland
| BT4 3EJ
Accountants | Grant Thornton Advisors (NI) LLP
| Chartered Accountants
| 12 - 15 Donegall Square West
| Belfast
| BT1 6JH
Oceanic Heritage Limited
Contents
| Page
Balance Sheet | 1
Notes to the Financial Statements | 2 - 4
Oceanic Heritage Limited Registered number:NI722515
Balance Sheet As at 31 March 2026
|  | 2026
Note |  | £
Fixed assets |  |  |
Tangible assets |  |  | 3,155,000
|  |  | 3,155,000
Current assets |  |  |
Debtors: amounts falling due within one year | 6 | 10 |
|  | 10 |
Creditors: amounts falling due within one year | 7 | (3,155,000) |
Net current liabilities |  |  | (3,154,990)
Total assets less current liabilities |  |  | 10
Net assets |  |  | 10
Capital and reserves |  |  |
Called up share capital | 8 |  | 10
|  |  | 10
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 July 2026
Colin Tweedie
Director
The notes on pages 2 to 4 form part of these financial statements. Page 1
Oceanic Heritage Limited
Notes to the Financial Statements For the period ended 31 March 2026
1. | General information
Oceanic Heritage Limited is a private company limited by shares and incorporated in Northern Ireland. The registered office address is 296-298 Upper Newtownards Road, Belfast, BT4 3EJ. The principal activity of the company is the holding of Artefacts. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The financial statements are presented in Sterling (£). The following principal accounting policies have been applied: The following principal accounting policies have been applied:
| 2.2 | Going concern
The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
| 2.3 | Heritage assets
Heritage assets are recognised where the company has control of the asset and cost can be measured reliably. Heritage assets are initially measured at cost and subsequently carried at cost less any accumulated impairment losses. Heritage assets are not depreciated as they are considered to have indefinite useful lives. Heritage assets are reviewed for impairment when there is an indication that their carrying value may not be recoverable.
| 2.4 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.5 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 2
Oceanic Heritage Limited
Notes to the Financial Statements For the period ended 31 March 2026
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. Heritage assets Judgement is applied in assessing that the Company’s heritage assets have indefinite useful lives and therefore are not depreciated, and in concluding that there are no indicators of impairment at the reporting date. These judgements reflect the nature of the heritage assets and their ongoing preservation and service potential.
4. | Employees
| The average monthly number of employees, including directors, during the period was 2.
5. | Tangible fixed assets
|  | Heritage Assets
|  | £
| Cost or valuation |
| Additions | 3,155,000
| At 31 March 2026 | 3,155,000
| Net book value |
| At 31 March 2026 | 3,155,000
| At 14 October 2024 | -
| Heritage assets is comprised of artefacts. The artefacts were acquired during the year and are recognised at cost. The directors consider the assets to have an indefinite useful life and, accordingly, no depreciation has been charged. At the balance sheet date, the carrying amount of heritage assets was £3,155,000.
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Oceanic Heritage Limited
Notes to the Financial Statements For the period ended 31 March 2026
6. | Debtors
|  |  |  |  | 2026
|  |  |  |  | £
| Amounts owed by group undertakings | 10
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026
|  |  |  |  | £
| Other creditors | 3,155,000
| Other creditors comprise a promissory note which is interest free and repayable on demand.
8. | Share capital
|  |  |  |  | 2026
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1,000 Ordinary shares of £0.01 each | 10
On incorporation the Company issued 1,000 Ordinary shares with a nominal value of £0.01 each.
9. | Related party transactions
| During the year, one of the Directors transferred artefacts with a value of £3,155,000 to the Company. The consideration was satisfied by the execution of a promissory note. At the balance sheet date the amount owed to Mr C Tweedie was £3,155,000. The loan is unsecured, interest free and repayable upon demand.
10. | Post balance sheet events
There have been no significant events affecting the Company since the year end.
11. | Controlling party
The Company is controlled by the directors.
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