REGISTERED NUMBER: 08061463 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Blue Phoenix Yachts Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs D Urbanska

REGISTERED OFFICE:

Freedman House

Christopher Wren Yard

117 High Street

Croydon

Surrey

CR0 1QG

REGISTERED NUMBER:

08061463 (England and Wales)

ACCOUNTANTS:

CWF & Partners Ltd

Chartered Accountants

Freedman House

Christopher Wren Yard

117 High Street

Croydon

Surrey

CR0 1QG

FIXED ASSETS

Tangible assets

5

475,890

517,726

CURRENT ASSETS

Debtors

6

18,448

18,356

Cash at bank

251

15,090

18,699

33,446

CREDITORS

Amounts falling due within one year

7

1,569,525

1,519,469

NET CURRENT LIABILITIES

(1,550,826

)

(1,486,023

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,074,936

)

(968,297

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(1,074,937

)

(968,298

)

SHAREHOLDERS' FUNDS

(1,074,936

)

(968,297

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 director and authorised for issue on 19 September 2025 and were signed by:

Mrs D Urbanska - Director

1.	STATUTORY INFORMATION

Blue Phoenix Yachts 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.

The presentation currency of the financial statements is the Euro (€).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Fixtures and fittings

-

10% on cost

Motor and Sailing Yacht

-

5% on cost

Going concern basis

The company incurred a loss of €106,639 for the year ended 31 December 2024 (2023 - €70,152 loss) and, as of that date the company's net current liabilities were €1,550,826 (2023 - €1,486,023) . The company is dependent upon the continuing support of its shareholder without which there would be significant doubt about the company's ability to continue as a going concern.The shareholder has indicated its intention to continue providing such financial assistance to the company to enable it to continue as a going concern and to meet its obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Motor and

and

Sailing

Motor

fittings

Yacht

vehicles

Totals

€

€

€

€

COST

At 1 January 2024

23,599

940,652

7,149

971,400

Additions

1,481

-

-

1,481

At 31 December 2024

25,080

940,652

7,149

972,881

DEPRECIATION

At 1 January 2024

14,539

433,236

5,899

453,674

Charge for year

2,708

39,894

715

43,317

At 31 December 2024

17,247

473,130

6,614

496,991

NET BOOK VALUE

At 31 December 2024

7,833

467,522

535

475,890

At 31 December 2023

9,060

507,416

1,250

517,726

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Amounts owed by participating interests

14,000

14,000

Other debtors

2,268

2,268

Prepayments and accrued income

2,180

2,088

18,448

18,356

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

€

€

Trade creditors

16,818

9,391

Other creditors

1,550,912

1,508,225

Accruals and deferred income

1,795

1,853

1,569,525

1,519,469

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

€

€

1

Ordinary

GBP£1

1

1

9.

RESERVES

Retained

earnings

€

At 1 January 2024

(968,298

)

Deficit for the year

(106,639

)

At 31 December 2024

(1,074,937

)

10.	RELATED PARTY DISCLOSURES

Included in creditors due within one year is an amount of €886,389 (2023 - €886,389) payable to Constantinos G. Lordos for the acquisition of the Blue Phoenix Yacht.

The amount payable is interest free and has no specified repayment date.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by The Lordos Foundation, established in Jersey, which owns 100% of the company's shares.