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COMPANY REGISTRATION NUMBER: 03936863

Oceanteam Logistics Limited

Filleted Unaudited Financial Statements

31 March 2025

Oceanteam Logistics Limited

Financial Statements

Year ended 31 March 2025

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Oceanteam Logistics Limited

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 105,408 | 59,113

Current assets

Debtors | 7 | 1,259,841 |  | 1,298,303
Cash at bank and in hand | 649,765 |  | 638,651
| ----------- |  | -----------
| 1,909,606 |  | 1,936,954

Creditors: amounts falling due within one year | 8 | 975,381 |  | 1,180,058
| ----------- |  | -----------
Net current assets |  | 934,225 | 756,896
|  | ----------- | ---------
Total assets less current liabilities |  | 1,039,633 | 816,009

Creditors: amounts falling due after more than one year | 9 |  | 5,834 | 18,183

Provisions

Taxation including deferred tax |  | 17,021 | –
|  | ----------- | ---------
Net assets |  | 1,016,778 | 797,826
|  | ----------- | ---------

Oceanteam Logistics Limited

Statement of Financial Position (continued)

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Capital and reserves

Called up share capital |  | 100 | 100
Profit and loss account |  | 1,016,678 | 797,726
|  | ----------- | ---------
Shareholders funds |  | 1,016,778 | 797,826
|  | ----------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 August 2026 , and are signed on behalf of the board by:

J A Beadle
Director

Company registration number: 03936863

Oceanteam Logistics Limited

Notes to the Financial Statements

Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Zone G Salamander Quay, Park Lane, Harefield, Middlesex UB9 6NZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Fixtures and equipment | - | 25% reducing balance
| Motor vehicles | - | 25% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable/payable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 12 (2024: 10 ).
5. Tax on profit
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 123,596 | 187,373

Deferred tax:

Origination and reversal of timing differences | 17,021 | –
| --------- | ---------
Tax on profit | 140,617 | 187,373
| --------- | ---------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

| 2025 | 2024
| £ | £
Profit on ordinary activities before taxation | 489,569 | 738,539
| --------- | ---------
Profit on ordinary activities by rate of tax | 122,392 | 184,635
Effect of expenses not deductible for tax purposes | 13,373 | 5,259
Effect of capital allowances and depreciation | ( 12,169) | ( 2,521)
Deferred tax | 17,021 | –
| --------- | ---------
Tax on profit | 140,617 | 187,373
| --------- | ---------

6. Tangible assets

| Fixtures and fittings | Motor vehicles | Total
| £ | £ | £
Cost |  |  |
At 1 April 2024 | 239,819 | 60,084 | 299,903
Additions | 4,051 | 58,035 | 62,086
| --------- | --------- | ---------
At 31 March 2025 | 243,870 | 118,119 | 361,989
| --------- | --------- | ---------
Depreciation |  |  |
At 1 April 2024 | 216,986 | 23,804 | 240,790
Charge for the year | 6,721 | 9,070 | 15,791
| --------- | --------- | ---------
At 31 March 2025 | 223,707 | 32,874 | 256,581
| --------- | --------- | ---------
Carrying amount |  |  |
At 31 March 2025 | 20,163 | 85,245 | 105,408
| --------- | --------- | ---------
At 31 March 2024 | 22,833 | 36,280 | 59,113
| --------- | --------- | ---------

7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 907,740 | 1,096,534
Prepayments and accrued income | 16,658 | 51,023
Directors loan account | 92,125 | –
Other debtors | 243,318 | 150,746
| ----------- | -----------
| 1,259,841 | 1,298,303
| ----------- | -----------

8. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 10,000 | 10,000
Trade creditors | 393,782 | 482,959
Accruals and deferred income | 304,108 | 388,082
Corporation tax | 123,596 | 187,373
Social security and other taxes | 83,774 | 11,897
Obligations under finance leases and hire purchase contracts | 2,350 | 3,134
Director loan accounts | – | 58,128
Other creditors | 57,771 | 38,485
| --------- | -----------
| 975,381 | 1,180,058
| --------- | -----------

9. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 5,834 | 15,833
Other creditors | – | 2,350
| ------ | -------
| 5,834 | 18,183
| ------ | -------

10. Directors' advances, credits and guarantees
The company was under the control of J A Beadle and W A Beadle, who are the 100% controlling shareholders. J A Beadle has provided a personal guarantee to Barclays Bank Plc to the value of £150,000 (2024 - £150,000).