POSEIDON TRAWLERS LIMITED

Company Registration Number:
12601089 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

POSEIDON TRAWLERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

POSEIDON TRAWLERS LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 1,058,200 1,058,200
Tangible assets: 4 1,862,881 1,624,167
Total fixed assets: 2,921,081 2,682,367
Current assets
Debtors:   263,800 148,221
Cash at bank and in hand: 44 69
Total current assets: 263,844 148,290
Creditors: amounts falling due within one year: 5 (1,388,416) (1,106,612)
Net current assets (liabilities): (1,124,572) (958,322)
Total assets less current liabilities: 1,796,509 1,724,045
Creditors: amounts falling due after more than one year: 6 (1,539,116) (1,348,962)
Provision for liabilities: (49,995) (95,207)
Total net assets (liabilities): 207,398 279,876
Capital and reserves
Called up share capital: 100 100
Revaluation reserve:738,66740,000
Profit and loss account: 168,631 239,776
Shareholders funds: 207,398 279,876

The notes form part of these financial statements

POSEIDON TRAWLERS LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 February 2025
and signed on behalf of the board by:

Name: Jonathan Michael Reid
Status: Director

The notes form part of these financial statements

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Intangible Assets

Total
Cost £
At 01 June 2023 1,129,500
At 31 May 2024 1,129,500
Amortisation
At 01 June 2023 71,300
At 31 May 2024 71,300
Net book value
At 31 May 2024 1,058,200
At 31 May 2023 1,058,200

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible Assets

Total
Cost £
At 01 June 2023 1,680,508
Additions 269,956
At 31 May 2024 1,950,464
Depreciation
At 01 June 2023 56,341
Charge for year 31,242
At 31 May 2024 87,583
Net book value
At 31 May 2024 1,862,881
At 31 May 2023 1,624,167

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

Loans totalling of £12,854.78 (2023: 11,908) are secured against the motorfishing vessel 'Margaret Anne' (previously 'Camm Defiance', loans totalling £22,226.06 (2023: 150,000) are secured against the motorfishing vessel 'Jacoba' and loans totalling £13,775.93 (2023: 12,808) are secured against the motorfishing vessel 'Elizabeth N'.

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due after more than one year note

Loans totalling of £282,538.35 (2023: 295,393) are secured against the motorfishing vessel 'Margaret Anne' (previously 'Camm Defiance'), loans totalling £527,773.94 (2023: 37,500) are secured against the motorfishing vessel 'Jacoba' and loans totalling £300,357.66 (2023: 314,134) are secured against the motorfishing vessel 'Elizabeth N'.

POSEIDON TRAWLERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Revaluation reserve

2024
£
Balance at 01 June 2023 40,000
Surplus or deficit after revaluation (1,333)
Balance at 31 May 2024 38,667