Two Oceans Strategy Limited
Two Oceans Strategy Limited
Registered number: 11803065
Unaudited Financial Statements
For The Year Ended
31 March 2022
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Two Oceans Strategy Limited
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Two Oceans Strategy Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
11803065
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
2022 | 2021 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 3 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 7 |
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Share premium account |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 56,130 | 118,148 | |||
Two Oceans Strategy Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Director
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The notes on pages 3 to 5 form part of these financial statements.
Two Oceans Strategy Limited
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings |
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Computer Equipment |
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1.4.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.5.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
1.6.
Investments
All investment are carried at fair value determined annually and derived from the current market values. Changes in fair value are recognised in the profit and loss account.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2021: 1)
Two Oceans Strategy Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
3.
Tangible Assets
Fixtures & Fittings | Computer Equipment | Total | |
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£ | £ | £ | |
Cost | |||
As at
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Additions |
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As at
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Depreciation | |||
As at
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Provided during the period |
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As at
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Net Book Value | |||
As at
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As at
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4.
Investments
Unlisted | |
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£ | |
Cost | |
As at
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10,235 |
As at
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10,235 |
Provision | |
As at
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10,235 |
As at
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10,235 |
Net Book Value | |
As at
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- |
As at
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- |
5.
Debtors
2022 | 2021 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 63,755 | 47,423 | |
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Two Oceans Strategy Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
6.
Creditors: Amounts Falling Due Within One Year
2022 | 2021 | ||
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£ | £ | ||
Trade creditors |
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Other creditors | 61,937 | 1,076 | |
Taxation and social security | 28,853 | - | |
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8.
Related Party Transactions
Included in "Other Debtors" is £52,554 (2021: £41,509) owed from Two Oceans Strategy India Private Limited, a subsidiary of Two Oceans Strategy Limited. This loan is unsecured, repayable on demand and non-interest bearing.
9.
Controlling Party
The company's controlling party is Mr Thomas Mills by virtue of his ownership of 90.5% of the issued share capital in the company.
10.
General Information
Two Oceans Strategy Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11803065
. The registered office is Castle House, Castle Street, Guildford, GU1 3UW.