REGISTERED NUMBER: 08853917 (England and Wales)

OCEAN TRANSIT OPERATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N J L Howells

SECRETARY:

REGISTERED OFFICE:

Castle Chambers

6 Westgate Hill

Pembroke

Pembrokeshire

SA71 4LB

REGISTERED NUMBER:

08853917 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Castle Chambers

6 Westgate Hill

Pembroke

Pembrokeshire

SA71 4LB

FIXED ASSETS

Tangible assets

4

12,103

14,622

CURRENT ASSETS

Debtors

5

11,724

4,170

Investments

6

3,140

-

Cash at bank

51

1,559

14,915

5,729

CREDITORS

Amounts falling due within one year

7

20,049

18,277

NET CURRENT LIABILITIES

(5,134

)

(12,548

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,969

2,074

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

6,968

2,073

SHAREHOLDERS' FUNDS

6,969

2,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 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 director on 30 October 2018 and were signed by:

N J L Howells - Director

1.	STATUTORY INFORMATION

Ocean Transit Operations 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 February 2017

1,404

23,872

25,276

Additions

1,232

-

1,232

At 31 January 2018

2,636

23,872

26,508

DEPRECIATION

At 1 February 2017

210

10,444

10,654

Charge for year

394

3,357

3,751

At 31 January 2018

604

13,801

14,405

NET BOOK VALUE

At 31 January 2018

2,032

10,071

12,103

At 31 January 2017

1,194

13,428

14,622

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

4,345

4,170

Other debtors

7,379

-

11,724

4,170

6.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Other

3,140

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

2,236

-

Hire purchase contracts

10,941

14,896

Taxation and social security

6,212

2,235

Other creditors

660

1,146

20,049

18,277

8.	ULTIMATE CONTROLLING PARTY