Ocean Passages Limited - Accounts to registrar (filleted) - small 23.1.5

Ocean Passages Limited - Accounts to registrar (filleted) - small 23.1.5

OCEAN PASSAGES LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v23.1.5.20 03573485 Board of Directors 1.11.21 31.10.22 31.10.22 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure035734852021-10-31035734852022-10-31035734852021-11-012022-10-31035734852020-10-31035734852020-11-012021-10-31035734852021-10-3103573485ns16:EnglandWales2021-11-012022-10-3103573485ns15:PoundSterling2021-11-012022-10-3103573485ns11:Director12021-11-012022-10-3103573485ns11:PrivateLimitedCompanyLtd2021-11-012022-10-3103573485ns11:SmallEntities2021-11-012022-10-3103573485ns11:AuditExempt-NoAccountantsReport2021-11-012022-10-3103573485ns11:SmallCompaniesRegimeForDirectorsReport2021-11-012022-10-3103573485ns11:SmallCompaniesRegimeForAccounts2021-11-012022-10-3103573485ns11:FullAccounts2021-11-012022-10-3103573485ns11:Director22021-11-012022-10-3103573485ns11:CompanySecretary12021-11-012022-10-3103573485ns11:RegisteredOffice2021-11-012022-10-3103573485ns6:CurrentFinancialInstruments2022-10-3103573485ns6:CurrentFinancialInstruments2021-10-3103573485ns6:Non-currentFinancialInstruments2022-10-3103573485ns6:Non-currentFinancialInstruments2021-10-3103573485ns6:ShareCapital2022-10-3103573485ns6:ShareCapital2021-10-3103573485ns6:RetainedEarningsAccumulatedLosses2022-10-3103573485ns6:RetainedEarningsAccumulatedLosses2021-10-3103573485ns6:CostValuation2021-10-3103573485ns6:Non-currentFinancialInstruments2021-11-012022-10-31
REGISTERED NUMBER: 03573485 (England and Wales)












OCEAN PASSAGES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022






OCEAN PASSAGES LIMITED (REGISTERED NUMBER: 03573485)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


OCEAN PASSAGES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTORS: J A C Leach
Miss P A Leach





SECRETARY: J R Hiley-Jones





REGISTERED OFFICE: Pennington House
Ridgeway Lane
Lymington
Hampshire
SO41 8AA





REGISTERED NUMBER: 03573485 (England and Wales)
Page 1
OCEAN PASSAGES LIMITED (REGISTERED NUMBER: 03573485)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £ £
FIXED ASSETS
Investments 4 1 1

CURRENT ASSETS
Debtors 5 675,000 675,000

CREDITORS
Amounts falling due within one year 6 (932,418 ) (932,418 )
NET CURRENT LIABILITIES (257,418 ) (257,418 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(257,417
)
(257,417
)

CREDITORS
Amounts falling due after more than one
year
7
(830,947
)
(830,947
)
NET LIABILITIES (1,088,364 ) (1,088,364 )

CAPITAL AND RESERVES
Called up share capital 700,002 700,002
Retained earnings (1,788,366 ) (1,788,366 )
SHAREHOLDERS' FUNDS (1,088,364 ) (1,088,364 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 notes form part of these financial statements

Page 2 continued...
OCEAN PASSAGES LIMITED (REGISTERED NUMBER: 03573485)

BALANCE SHEET - continued
31 OCTOBER 2022


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 Board of Directors and authorised for issue on 19 July 2023 and were signed on its behalf by:





J A C Leach - Director


The notes form part of these financial statements

Page 3
OCEAN PASSAGES LIMITED (REGISTERED NUMBER: 03573485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022


1. STATUTORY INFORMATION

Ocean Passages 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The accounts have been prepared on the going concern basis. The company is reliant upon the support of the holding company; the directors have obtained written confirmations that this support will continue for the foreseeable future.

The company was dormant throughout the current year and previous year.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

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 constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Page 4 continued...
OCEAN PASSAGES LIMITED (REGISTERED NUMBER: 03573485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 November 2021
and 31 October 2022 1
NET BOOK VALUE
At 31 October 2022 1
At 31 October 2021 1

The company owns 50% of the issued ordinary share capital of Ocean Passages (Charter) Limited, a company incorporated in England and Wales.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Amounts owed by group undertakings 675,000 675,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Amounts owed to group undertakings 931,368 931,368
Other creditors 1,050 1,050
932,418 932,418

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£ £
Other creditors 830,947 830,947

The above balance represents a loan made to the company by its parent company, Greenclose Hotels Limited. No interest has been charged on the loan in the current year. The loan has no fixed repayment date.

8. ULTIMATE CONTROLLING PARTY

Greenclose Hotels Limited, a company incorporated in England & Wales, is the immediate parent.

The directors consider the ultimate parent undertaking to be Greenclose Holdings Limited, a company incorporated in England & Wales and is the smallest and largest company for which consolidated accounts including Ocean Passages Limited are prepared. These accounts are available from its registered office, Pennington House, Ridgeway Lane, Lymington, Hampshire, SO41 8AA.

Page 5