Abbreviated Company Accounts - OCEAN DESIGNS (GB) LIMITED

OCEAN DESIGNS (GB) LIMITED - Company Information

Registered Number 05993047

OCEAN DESIGNS (GB) LIMITED

Abbreviated Accounts

31 December 2015

OCEAN DESIGNS (GB) LIMITED Registered Number 05993047

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	13,752	22,852
Tangible assets	3	8,295	12,158
		22,047	35,010
Current assets
Stocks		135,500	119,827
Debtors		41,622	40,405
Cash at bank and in hand		10	10
		177,132	160,242
Creditors: amounts falling due within one year		(86,875)	(108,331)
Net current assets (liabilities)		90,257	51,911
Total assets less current liabilities		112,304	86,921
Creditors: amounts falling due after more than one year		(69,654)	(45,726)
Provisions for liabilities		(1,361)	(2,068)
Total net assets (liabilities)		41,289	39,127
Capital and reserves
Called up share capital		20,000	20,000
Profit and loss account		21,289	19,127
Shareholders' funds		41,289	39,127

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 18 February 2016

And signed on their behalf by:
N Hampson, Director

OCEAN DESIGNS (GB) LIMITED Registered Number 05993047

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 15% Straight line
Motor vehciles 25% reducing balance
Office equipment 25% straight line

2Intangible fixed assets

	£
Cost
At 1 January 2015	42,521
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	42,521
Amortisation
At 1 January 2015	19,669
Charge for the year	9,100
On disposals	-
At 31 December 2015	28,769
Net book values
At 31 December 2015	13,752
At 31 December 2014	22,852

3Tangible fixed assets

	£
Cost
At 1 January 2015	28,755
Additions	684
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	29,439
Depreciation
At 1 January 2015	16,597
Charge for the year	4,547
On disposals	-
At 31 December 2015	21,144
Net book values
At 31 December 2015	8,295
At 31 December 2014	12,158