Ocean Grove Developments Limited - Limited company - abbreviated

REGISTERED NUMBER: 04325559 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2014

for

Ocean Grove Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

Mr G N Parker

Mrs N A Parker

REGISTERED OFFICE:

Chiltern Chambers

St Peters Avenue

Caversham

Reading

Berkshire

RG4 7DH

REGISTERED NUMBER:

04325559 (England and Wales)

ACCOUNTANTS:

Assets Limited

Chartered Accountants

Chiltern Chambers

St Peters Avenue

Caversham

Reading

Berkshire

RG4 7DH

FIXED ASSETS

Intangible assets

2

6,500

13,000

Tangible assets

3

4,938

19,107

11,438

32,107

CURRENT ASSETS

Stocks

1,150

Debtors

27,043

58,180

Cash at bank

5,689

7,825

33,882

67,155

CREDITORS

Amounts falling due within one year

44,995

86,220

NET CURRENT LIABILITIES

(11,113

)

(19,065

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

325

13,042

CREDITORS

Amounts falling due after more than one
year

-

(12,725

)

PROVISIONS FOR LIABILITIES

(720

)

-

NET (LIABILITIES)/ASSETS

(395

)

317

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(495

)

217

SHAREHOLDERS' FUNDS

(395

)

317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 September 2015 and were signed on its behalf
by:

Mr G N Parker - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

25% reducing balance

Computer equipment

-

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Deferred tax assets are recognised to the extent that it is more likely than not that they will be recovered.

Foreign currencies

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 of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Going concern

Although the balance sheet is currently negative, the directors have indicated their willingness to support the

company for the foreseeable future, a period not anticipated to be less than one year.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

and 31 December 2014

65,000

AMORTISATION

At 1 January 2014

52,000

Amortisation for year

6,500

At 31 December 2014

58,500

NET BOOK VALUE

At 31 December 2014

6,500

At 31 December 2013

13,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2014

54,073

Disposals

(22,264

)

At 31 December 2014

31,809

DEPRECIATION

At 1 January 2014

34,966

Charge for year

1,646

Eliminated on disposal

(9,741

)

At 31 December 2014

26,871

NET BOOK VALUE

At 31 December 2014

4,938

At 31 December 2013

19,107

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

100

Ordinary

£1

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2014 and

31 December 2013:

2014

2013

£

Mr G N Parker

Balance outstanding at start of year

-

Amounts advanced

6,999

-

Amounts repaid

-

Balance outstanding at end of year

6,999

-

During the year advances totalling £6,999 (2013: £Nil) were made to Mr G N Parker, a director, the balance

outstanding to the company at 31st December 2014 and included in debtors was £6,999 (2013: £Nil).

6.	ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party.

Ocean Grove Developments Limited - Limited company - abbreviated - 11.6

Ocean Grove Developments Limited - Limited company - abbreviated - 11.6