OCEANS_-_ESU_LIMITED - Accounts

OCEANS-ESU LIMITED - Company Information

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OCEANS - ESU LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

Company Registration No. 02683741 (England and Wales)

OCEANS - ESU LIMITED

COMPANY INFORMATION

Directors

Dr Lucian Gill

Michelle Gill

Secretary

Michelle Gill

Company number

02683741

Registered office

Barnsley Business and Innovation Centre

Innovation Way

Wilthorpe

Barnsley

S75 1JL

Accountants

Naylor Wintersgill Limited

Carlton House

Grammar School Street

Bradford

BD1 4NS

Business address

Barnsley Business and Innovation Centre

Innovation Way

Wilthorpe

Barnsley

S75 1JL

Bankers

Barclays Bank plc

27 Church Street

Barnsley

South Yorkshire

S70 2AJ

OCEANS - ESU LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

OCEANS - ESU LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

74,393

83,504

Current assets

Debtors

521,997

554,852

Cash at bank and in hand

377,403

287,518

899,400

842,370

Creditors: amounts falling due within one year

(390,907)

(378,783)

Net current assets

508,493

463,587

Total assets less current liabilities

582,886

547,091

Creditors: amounts falling due after more than one year

(179,056)

(151,450)

Provisions for liabilities

(4,388)

403,830

391,253

Capital and reserves

Called up share capital

100

Profit and loss account

403,730

391,153

Shareholders' funds

403,830

391,253

OCEANS - ESU LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JULY 2015

- 2 -

For the financial year ended 31 July 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 26 October 2015

Dr Lucian Gill

Director

Company Registration No. 02683741

OCEANS - ESU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% Reducing Balance

Fixtures, fittings & equipment

25% Reducing Balance

Motor vehicles

25% Reducing Balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

OCEANS - ESU LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2014

149,229

701

149,930

Additions

14,359

Disposals

(1,298)

At 31 July 2015

162,290

701

162,991

Depreciation

At 1 August 2014

65,725

701

66,426

On disposals

(1,137)

Charge for the year

23,309

At 31 July 2015

87,897

701

88,598

Net book value

At 31 July 2015

74,393

At 31 July 2014

83,504

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £11,106).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £34,496).

Share capital

2015

2014

Allotted, called up and fully paid

80 Ordinary shares of £1 each

100

20 Ordinary A shares of £1 each

100