Open Ocean Design Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04627183 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015

FOR

OPEN OCEAN DESIGN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

I R Smith

S R Smith

SECRETARY:

Tayler Bradshaw Limited

REGISTERED OFFICE:

Cambridge House

16 High Street

Saffron Walden

Essex

CB10 1AX

REGISTERED NUMBER:

04627183 (England and Wales)

ACCOUNTANTS:

Tayler Bradshaw

Cambridge House

16 High Street

Saffron Walden

Essex

CB10 1AX

FIXED ASSETS

Tangible assets

2

1,172

1,701

CURRENT ASSETS

Stocks

300

300

Debtors

5,392

8,410

Cash at bank and in hand

22,852

21,058

28,544

29,768

CREDITORS

Amounts falling due within one year

33,020

34,653

NET CURRENT LIABILITIES

(4,476

)

(4,885

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,304

)

(3,184

)

CAPITAL AND RESERVES

Called up share capital

3

150

150

Profit and loss account

(3,454

)

(3,334

)

SHAREHOLDERS' FUNDS

(3,304

)

(3,184

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 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 November 2015 and were signed on its behalf by:

I R Smith - 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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on 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

Provision is made at current rates of taxation deferred in respect of all material timing

differences to the extent that, in the opinion of the director, there is reasonable probability

that the liability will not arise in the foreseeable future.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight

line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

14,559

DEPRECIATION

At 1 June 2014

12,858

Charge for year

529

At 31 May 2015

13,387

NET BOOK VALUE

At 31 May 2015

1,172

At 31 May 2014

1,701

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

£

150

Ordinary

£1

150

150