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REGISTERED NUMBER: 01501627 (England and Wales)






















Boyd Line Limited

Financial Statements for the Year Ended 31st December 2023






Boyd Line Limited (Registered number: 01501627)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Boyd Line Limited

Company Information
for the year ended 31st December 2023







DIRECTORS: D Parlevliet
J C Van Der Plas
J Sandell
B Thorsteinsson





SECRETARY: Mackinnons Solicitors





REGISTERED OFFICE: The Orangery
Hesslewood Country Office Park
Ferriby Road
Hessle
East Yorkshire
HU13 0LH





REGISTERED NUMBER: 01501627 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Boyd Line Limited (Registered number: 01501627)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 138,300 138,300

CURRENT ASSETS
Debtors 5 1,278,410 1,663,299

CREDITORS
Amounts falling due within one year 6 18,105 281,617
NET CURRENT ASSETS 1,260,305 1,381,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,398,605

1,519,982

PENSION LIABILITY (103,000 ) (130,000 )
NET ASSETS 1,295,605 1,389,982

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,245,605 1,339,982
1,295,605 1,389,982

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 14th June 2024 and were signed on its behalf by:





J Sandell - Director


Boyd Line Limited (Registered number: 01501627)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

Boyd Line 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Boyd Line Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, , .

Taxation
Current tax represents the amount payable or receivable in respect of the taxable profit or loss for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Investments
Investments held as fixed assets are stated at cost or valuation, less provision for any permanent diminution in value.

Boyd Line Limited (Registered number: 01501627)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
For defined benefit schemes the amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the estimated regular cost of providing the benefits accrued in the year, adjusted to reflect variations from that cost. The interest cost and expected return on assets are included within other finance costs.

Defined benefit schemes are funded, with the assets held separately from the group in separate trustee administered funds. A liability is recognised in the balance sheet in respect of the defined benefit plan which represents the present value of the defined benefit obligation at the balance sheet date less the fair value of plan assets. A full valuation of the liability is calculated by an independent actuary every 3 year and updated on an annual basis using the projected unit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid and that have terms to maturity approximating to the terms of the related pension liability. Actuarial gains and losses are recognised in reserves in the year in which they arise. Past-service costs are recognised immediately in income, unless the changes to the pension plan are conditional on the employees remaining in service for a specified period of time (the vesting period). In this case, the past-service costs are amortised on a straight-line basis over the vesting period.

A pension scheme asset is recognised on the balance sheet only to the extent that the surplus may be recovered by future contributions or to the extent that the trustees have agreed a refund from the scheme at the balance sheet date. A pension scheme liability is recognised to the extent that the group has a legal or construction obligation to settle the liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 138,300
NET BOOK VALUE
At 31st December 2023 138,300
At 31st December 2022 138,300

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,252,660 1,630,799
Other debtors 25,750 32,500
1,278,410 1,663,299

Boyd Line Limited (Registered number: 01501627)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 242,117
Other creditors 18,105 39,500
18,105 281,617

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Dearing BSc FCCA (Senior Statutory Auditor)
Smailes Goldie Smailes Goldie

8. CONTINGENT LIABILITIES

The company is party to a joint guarantee with its ultimate parent undertaking and fellow subsidiary undertakings in respect of the group borrowings which are secured, in part, by mortgages in certain vessels, fishing licences and quota.The amount relating to the joint guarantee is £18,783,937 (2022: £30,920,876).

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Copies of the accounts of UK Fisheries Limited have been filed at Companies House, Cardiff, and can be obtained from the Group's registered office at The Orangery, Hesslewood Business Park, Hessle, East Yorkshire.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is UK Fisheries Limited.