Company Registration No. 06066175 (England and Wales)
Ocean Informatics UK Limited
Abbreviated unaudited accounts
for the year ended 30 June 2016
Ocean Informatics UK Limited
Abbreviated Balance Sheet
as at
30 June 2016
Tangible assets
540
2,245
Cash at bank and in hand
4,685
55,428
Creditors: amounts falling due within one year
(290,551)
(429,622)
Net current liabilities
(248,019)
(358,705)
Net liabilities
(247,479)
(356,460)
Called up share capital
1,000
1,000
Profit and loss account
(248,479)
(357,460)
Total shareholders' funds
(247,479)
(356,460)
For the year ending 30 June 2016 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the board on 29 March 2017
Dr S R Heard
Director
Company Registration No. 06066175
Ocean Informatics UK Limited
Notes to the Abbreviated Accounts
for the year ended 30 June 2016
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company has net liabilities of £247,479 (2015: £356,460) at the balance sheet date. The directors consider it appropriate to draw up the accounts on the going concern basis as the revenues of the company and its profitability have continued to improve. The company continues to receive the support of the parent company.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on cost
Computer equipment
33% on cost
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
Charge for the year
1,705
3
Share capital
2016
2015
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000