REGISTERED NUMBER: 04369656 (England and Wales)

Financial Statements for the Year Ended 28 February 2025

for

Oceanictrade Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Hussain

REGISTERED OFFICE:

18 Wimpole Street

London

W1G 8GD

REGISTERED NUMBER:

04369656 (England and Wales)

ACCOUNTANTS:

Abraham Accountants

Sher House

46 Houghton Place

Bradford

West Yorkshire

BD1 3RG

FIXED ASSETS

Intangible assets

4

17,500

20,000

Property, plant and equipment

5

4,250

4,250

Investments

6

50,000

50,000

71,750

74,250

CURRENT ASSETS

Inventories

474,935

312,904

Debtors

7

5,452

85,811

Cash at bank

40,537

36,228

520,924

434,943

CREDITORS

Amounts falling due within one year

8

(284,161

)

(277,270

)

NET CURRENT ASSETS

236,763

157,673

TOTAL ASSETS LESS CURRENT LIABILITIES

308,513

231,923

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

308,413

231,823

308,513

231,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2025 and were signed by:

M Hussain - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 29 February 2024

and 28 February 2025

27,500

AMORTISATION

At 29 February 2024

7,500

Charge for year

2,500

At 28 February 2025

10,000

NET BOOK VALUE

At 28 February 2025

17,500

At 28 February 2024

20,000

5.	PROPERTY, PLANT AND EQUIPMENT

Land and

buildings

£

COST

At 29 February 2024

and 28 February 2025

4,250

NET BOOK VALUE

At 28 February 2025

4,250

At 28 February 2024

4,250

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 29 February 2024

and 28 February 2025

50,000

NET BOOK VALUE

At 28 February 2025

50,000

At 28 February 2024

50,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

5,452

85,811

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

5,936

-

Taxation and social security

23,167

22,212

Other creditors

255,058

255,058

284,161

277,270