Oceanis Management Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06352870 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2019

for

OCEANIS MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

A D Cowley

SECRETARY:

S Sullivan

REGISTERED OFFICE:

C/O Belmont Property Management

Daniell House

Falmouth Road

Truro

Cornwall

TR1 2HX

REGISTERED NUMBER:

06352870 (England and Wales)

ACCOUNTANTS:

Baldwins

Accountants

Unit A

Woodlands Court

Truro Business Park

Truro

Cornwall

TR4 9NH

CURRENT ASSETS

Debtors

3

741

1,844

Cash at bank

2,703

2,340

3,444

4,184

CREDITORS

Amounts falling due within one year

4

(2,911

)

(2,532

)

NET CURRENT ASSETS

533

1,652

TOTAL ASSETS LESS CURRENT LIABILITIES

533

1,652

RESERVES

Maintenance Reserve

533

1,652

533

1,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2019 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 24 November 2019 and were signed by:

A D Cowley - Director

1.	STATUTORY INFORMATION

Oceanis Management Company 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

The financial statements have been prepared in accordance with Financial Reporting Standard 102

Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the

Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

The financial statements are prepared in sterling which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest pound sterling.

Going concern

The directors, after making enquiries and having considered the company's business, its financial

plans and the facilities available to finance the business, have a reasonable expectation that the

company has adequate resources to continue in operational existence for the forseeable future.

Accordingly, the going concern basis is adopted in preparing the financial statements.

Turnover

Turnover represents the total invoice value, excluding value added tax, of maintenance fees invoiced

during the period.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and

Section 12 "Other Financial Instruments" of FRS102 to all of its financial instruments.

Financial assets and liabilities are recognised in the company's statement of financial position when

the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are classified into specified categories. The classification depends on

the nature and purpose of the financial asset or liability and is determined at the time of recognition.

Basic financial assets, which include trade and other receivables and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried at

amortised cost using the effective interest method, unless the arrangement constitute a financing

transaction, where the transaction is measure at the present value of the future receipts discounted at

a market rate of interest.

Basic financial liabilities, which include trade and other payables are initially measured at transaction

price, unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future payments discounted at a market rate of interest.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Maintenance fees in arrears

580

1,700

Prepayments

161

144

741

1,844

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Maintenance fees paid in advance

5

5

Other creditors

1,303

1,303

Accrued expenses

1,603

1,224

2,911

2,532

5.

RESERVES

Maintenance fees received by this company are taken as capital receipts and transfers will be made to

and from the capital maintenance reserve each year to cover the year's actual expenses.

6.	LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share

capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of

the company in the event of liquidation.