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Company No: 12716489 (England and Wales)

B2D TRAWLERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

B2D TRAWLERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

B2D TRAWLERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
B2D TRAWLERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 31.08.2024 31.08.2023
£ £
Fixed assets
Intangible assets 3 40,250 41,750
Tangible assets 4 310,418 283,644
350,668 325,394
Current assets
Debtors 5 43,113 14,482
43,113 14,482
Creditors: amounts falling due within one year 6 ( 148,727) ( 146,469)
Net current liabilities (105,614) (131,987)
Total assets less current liabilities 245,054 193,407
Creditors: amounts falling due after more than one year 7 ( 158,916) ( 151,974)
Net assets 86,138 41,433
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 86,038 41,333
Total shareholder's funds 86,138 41,433

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of B2D Trawlers Limited (registered number: 12716489) were approved and authorised for issue by the Director on 21 May 2025. They were signed on its behalf by:

Derek Barry Meredith
Director
B2D TRAWLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
B2D TRAWLERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

B2D Trawlers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Reporting period length has changed since the prior year. The accounting period in the current year covers the 12 month period from 01/09/2023 to 31/08/2024, however, the prior year accounts cover the 13 month period from 01/08/2022 to 31/08/2023. Therefore, comparatives are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 30 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line balance basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Vehicles 5 years straight line
Other property, plant and equipment 30 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.08.2024
13 month period
to 31.08.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 September 2023 45,000 45,000
At 31 August 2024 45,000 45,000
Accumulated amortisation
At 01 September 2023 3,250 3,250
Charge for the financial year 1,500 1,500
At 31 August 2024 4,750 4,750
Net book value
At 31 August 2024 40,250 40,250
At 31 August 2023 41,750 41,750

4. Tangible assets

Plant and machinery Vehicles Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 September 2023 25,052 60,054 230,000 315,106
Additions 39,673 27,500 0 67,173
Disposals 0 ( 7,000) 0 ( 7,000)
At 31 August 2024 64,725 80,554 230,000 375,279
Accumulated depreciation
At 01 September 2023 4,890 9,960 16,612 31,462
Charge for the financial year 15,354 11,661 7,667 34,682
Disposals 0 ( 1,283) 0 ( 1,283)
At 31 August 2024 20,244 20,338 24,279 64,861
Net book value
At 31 August 2024 44,481 60,216 205,721 310,418
At 31 August 2023 20,162 50,094 213,388 283,644

5. Debtors

31.08.2024 31.08.2023
£ £
Amounts owed by director 22,716 0
VAT recoverable 7,555 6,192
Other debtors 12,842 8,290
43,113 14,482

6. Creditors: amounts falling due within one year

31.08.2024 31.08.2023
£ £
Bank loans and overdrafts (secured) 46,383 20,596
Trade creditors 5,155 6,357
Obligations under finance leases and hire purchase contracts (secured) 11,545 7,250
Other creditors 85,644 112,266
148,727 146,469

Bank loans shown above are secured against the company's assets.

Obligations under finance leases and hire purchase contracts are secured over the asset to which the agreement relates.

7. Creditors: amounts falling due after more than one year

31.08.2024 31.08.2023
£ £
Bank loans (secured) 116,841 130,791
Obligations under finance leases and hire purchase contracts (secured) 42,075 21,183
158,916 151,974

Bank loans shown above are secured against the company's assets.

Obligations under finance leases and hire purchase contracts are secured over the asset to which the agreement relates.

8. Called-up share capital

31.08.2024 31.08.2023
£ £
Allotted, called-up and fully-paid
51 A ordinary shares of £ 1.00 each 51 51
49 B ordinary shares of £ 1.00 each 49 49
100 100

9. Related party transactions

Transactions with the entity's director

31.08.2024 31.08.2023
£ £
Amounts owed to the director 22,716 0