REGISTERED NUMBER: 02114161 (England and Wales)

Jacinta Limited

Financial Statements for the Year Ended 31st December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B Thorsteinsson

D Parlevliet

SECRETARY:

Mackinnons Solicitors

REGISTERED OFFICE:

The Orangery

Hesslewood Country Office Park

Ferriby Road

Hessle

East Yorkshire

HU13 0LH

REGISTERED NUMBER:

02114161 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Intangible assets

4

354,180

361,408

Tangible assets

5

-

600,000

354,180

961,408

CURRENT ASSETS

Stocks

6

-

47,680

Debtors

7

3,063,504

2,687,494

3,063,504

2,735,174

CREDITORS

Amounts falling due within one year

8

3,500

3,500

NET CURRENT ASSETS

3,060,004

2,731,674

TOTAL ASSETS LESS CURRENT LIABILITIES

3,414,184

3,693,082

PROVISIONS FOR LIABILITIES

209,185

146,718

NET ASSETS

3,204,999

3,546,364

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

3,203,999

3,545,364

SHAREHOLDERS' FUNDS

3,204,999

3,546,364

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 16th May 2025 and were signed on its behalf by:

B Thorsteinsson - Director

1.	STATUTORY INFORMATION

Jacinta 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.

Intangible assets

Intangible assets are capitalised at cost and amortised on a straight-line basis over their useful lives less residual value. The useful life of the fishing licences are 30 years.

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, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fishing vessel - 15 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cost of conversion and other costs incurred in bringing the stock to its present location and condition. Cost is calculated using a first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

433,688

AMORTISATION

At 1st January 2024

72,280

Charge for year

7,228

At 31st December 2024

79,508

NET BOOK VALUE

At 31st December 2024

354,180

At 31st December 2023

361,408

5.	TANGIBLE FIXED ASSETS

Fishing

vessel

£

COST

At 1st January 2024

4,523,223

Disposals

(4,523,223

)

At 31st December 2024

-

DEPRECIATION

At 1st January 2024

3,923,223

Eliminated on disposal

(3,923,223

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

600,000

6.

STOCKS

2024

2023

£

£

Fuel, gear and provisions

-

47,680

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

3,063,504

2,687,494

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

3,500

3,500

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

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

The Report of the Auditors was unqualified.

Peter Dearing BSc FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

11.	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 on certain

vessels, fishing licences and quota.The amount relating to the joint guarantee is £12,988,380 (2023: £18,783,937).

12.	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.

13.	ULTIMATE PARENT COMPANY

14.	ULTIMATE CONTROLLING PARTY

The company is not controlled by any one party.