Ocean Retail Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 07382262 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

OCEAN RETAIL LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr L B Dorman

REGISTERED OFFICE:

First Floor

32-34 High Street

Ringwood

Hampshire

BH24 1AG

BUSINESS ADDRESS:

Endle Street

Southampton

Hampshire

SO14 5AW

REGISTERED NUMBER:

07382262 (England and Wales)

ACCOUNTANTS:

Casson Beckman

Chartered Accountants

First Floor

32-34 High Street

Ringwood

Hampshire

BH24 1AG

CURRENT ASSETS

Stocks

4,655

7,405

Cash at bank

5,484

1,321

10,139

8,726

CREDITORS

Amounts falling due within one year

2,642

2,199

NET CURRENT ASSETS

7,497

6,527

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,497

6,527

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

7,397

6,427

SHAREHOLDERS' FUNDS

7,497

6,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 2 May 2017 and were signed by:

Mr L B Dorman - 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 January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

1

100

3.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2016 and

30 September 2015:

2016

2015

£

Mr L B Dorman

Balance outstanding at start of year

(1,642

)

(1,642

)

Amounts repaid

-

Balance outstanding at end of year

(1,642

)

(1,642

)

4.	RELATED PARTY DISCLOSURES

During the year Quay Traders Limited, a company in which the director is also a shareholder, invoiced Ocean

Retail Limited for goods and services amounting to £3,460 (2015: £3,453) all on an arms length basis. At the

year end £388 (2015: £nil) was due to Quay Traders Limited.