Oceanic Properties Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04942429 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

OCEANIC PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Modestos Modestou

Chryso Christoforou

SECRETARY:

Jordan Cosec Limited

REGISTERED OFFICE:

First Floor Templeback

10 Templeback

Bristol

BS1 6FL

REGISTERED NUMBER:

04942429 (England and Wales)

ACCOUNTANTS:

Jordans Accounting Services

First Floor, Templeback

10 Temple back

Bristol

BS1 6FL

FIXED ASSETS

Tangible assets

4

94,809

102,667

CURRENT ASSETS

Debtors

5

1,427

1,427

CREDITORS

Amounts falling due within one year

6

(707,054

)

(708,660

)

NET CURRENT LIABILITIES

(705,627

)

(707,233

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(610,818

)

(604,566

)

CAPITAL AND RESERVES

Called up share capital

7

1,427

1,427

Retained earnings

(612,245

)

(605,993

)

SHAREHOLDERS' FUNDS

(610,818

)

(604,566

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 November 2017 and were signed on its behalf by:

Chryso Christoforou - Director

1.	STATUTORY INFORMATION

Oceanic Properties 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.

The presentation currency of the financial statements is the Euro (€).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

shareholders.

Tangible fixed assets

Depreciation is provided at the following annual rates .

Freehold property - 4% on fair value

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.

Financial instruments

The entity's financial instruments include basic financial instruments and consist of trade and other debtors and

trade and other creditors. Trade and other debtors are recognised initially at transaction price less attributable

transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective

interest method, less any impairment losses in the case of trade debtors. Trade and other creditors are also

recognised initially at transaction price plus attributable transaction costs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Freehold

property

€

COST OR VALUATION

At 1 November 2015

106,142

Revaluations

(3,908

)

At 31 October 2016

102,234

DEPRECIATION

At 1 November 2015

3,475

Charge for year

3,950

At 31 October 2016

7,425

NET BOOK VALUE

At 31 October 2016

94,809

At 31 October 2015

102,667

The investment property is shown at fair value less depreciation. It was valued on 28/8/2016 for an official

valuation for the Greek Government.

Cost or valuation at 31 October 2016 is represented by:

Freehold

property

€

Valuation in 2015

100,992

Valuation in 2016

1,242

102,234

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/16

31/10/15

€

€

Called up share capital not paid

1,427

1,427

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/16

31/10/15

€

€

Bank loans and overdrafts

260,469

260,469

Trade creditors

384

1,685

Tax

1,880

1,880

Loan - shareholder

444,321

444,626

707,054

708,660

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31/10/16

31/10/15

value:

€

€

1,000

Ordinary

£1

1,427

1,427