Oceanic Properties Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04942429 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2013

FOR

OCEANIC PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Modestos Modestou

Chryso Christoforou

SECRETARY:

Jordan Cosec Limited

REGISTERED OFFICE:

21 St Thomas Street

Bristol

BS1 6JS

REGISTERED NUMBER:

04942429 (England and Wales)

ACCOUNTANTS:

Jordans Accounting Services

21 St Thomas Street

Bristol

BS1 6JS

FIXED ASSETS

Tangible assets

2

140,207

140,807

CURRENT ASSETS

Debtors

3,344

2,112

CREDITORS

Amounts falling due within one year

(715,994

)

(713,889

)

NET CURRENT LIABILITIES

(712,650

)

(711,777

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(572,443

)

(570,970

)

CAPITAL AND RESERVES

Called up share capital

3

1,427

1,427

Profit and loss account

(573,870

)

(572,397

)

SHAREHOLDERS' FUNDS

(572,443

)

(570,970

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 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 29 July 2014 and were signed on its behalf by:

Chryso Christoforou - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis and will have the continuing support of the

shareholders.

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).

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Foreign currencies

Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of

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

2.	TANGIBLE FIXED ASSETS

Total

€

COST

At 1 November 2012

and 31 October 2013

142,482

DEPRECIATION

At 1 November 2012

1,675

Charge for year

600

At 31 October 2013

2,275

NET BOOK VALUE

At 31 October 2013

140,207

At 31 October 2012

140,807

In the year ended 31 October 2008 the directors decided to undergo a process of revaluation of the property to its

minimum commercial value, in accordance with local government policy.

The original cost of the property was €600,000.

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2013

2012

value:

€

€

1,000

Ordinary

£1

1,427

1,427