REGISTERED NUMBER: 04499784 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Casper Defence Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R W Bateman

I A Dobson

M D Sharp

REGISTERED OFFICE:

Tees Wharf

Dockside Road

Middlesbrough

Cleveland

TS3 6AH

REGISTERED NUMBER:

04499784 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

4

46,469

51,246

CURRENT ASSETS

Debtors

5

5,606,496

3,765,521

Cash at bank

615,982

1,912,146

6,222,478

5,677,667

CREDITORS

Amounts falling due within one year

6

5,022,211

4,075,862

NET CURRENT ASSETS

1,200,267

1,601,805

TOTAL ASSETS LESS CURRENT LIABILITIES

1,246,736

1,653,051

PROVISIONS FOR LIABILITIES

8,201

4,000

NET ASSETS

1,238,535

1,649,051

CAPITAL AND RESERVES

Called up share capital

7

836

836

Share premium

54,164

54,164

Retained earnings

1,183,535

1,594,051

SHAREHOLDERS' FUNDS

1,238,535

1,649,051

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 25 September 2025 and were signed on its behalf by:

M D Sharp - Director

1.	STATUTORY INFORMATION

Casper Defence 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

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.

Related party exemption

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.

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

-

25% on cost

Motor vehicles

-

20% on cost

Taxation

Current tax represents the amount of tax 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/ payable

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 income statement in administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

2,922

62,233

65,155

Additions

385

9,000

9,385

At 31 December 2024

3,307

71,233

74,540

DEPRECIATION

At 1 January 2024

1,200

12,709

13,909

Charge for year

800

13,362

14,162

At 31 December 2024

2,000

26,071

28,071

NET BOOK VALUE

At 31 December 2024

1,307

45,162

46,469

At 31 December 2023

1,722

49,524

51,246

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

4,413,069

2,174,508

Amounts owed by group undertakings

595,180

1,396,767

VAT

523,121

-

Prepayments and accrued income

75,126

194,246

5,606,496

3,765,521

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

4,855,852

3,653,551

Amounts owed to group undertakings

1,068

-

Taxation

41,944

255,926

Accrued expenses

123,347

166,385

5,022,211

4,075,862

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

83,600

Ordinary

1p

836

836

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

The Report of the Auditors was unqualified.

David Shawcross FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

9.	CONTINGENT LIABILITIES

The company is party to a cross guarantee with its fellow subsidiaries, parent company and associated companies, Casper Chartering Limited and H.C. Shipping & Chartering Limited. At 31 December 2024, the aggregate bank loans and overdraft of companies within the agreement, was £900,000. The directors do not consider that any loss will arise in connection with this guarantee and consequently no amount is provided within these financial statements.

10.	RELATED PARTY DISCLOSURES

As at the year end the company was owed £54,839 (2023 - £54,839) by its parent company.

11.	PARENT UNDERTAKING

The immediate and ultimate parent company is Casper Shipping Holdings Limited. These financial statements are included in the consolidated financial statements of Casper Shipping Holdings Limited. The parent's registered office address is the same as Casper Defence Limited as detailed on the Company Information page.