The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Tyne Fishing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Livingstone Road, Hessle, East Riding Of Yorkshire, HU13 0EE.

The principal accounting policies adopted are set out below.

These financial statements have been prepared in accordance with the provisions of FRS 102 section 1A small entities. There were no material departures from the standard.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared on the historical cost convention.

In respect of the company’s financial standing, the directors note net current liabilities of £2,476,059 (2024: £2,828,017) of which £2,350,174 (2024: £2,708,460) relates to amounts due to group undertakings. The directors have a reasonable expectation that trading results will continue to be positive whilst noting the company has the continued financial support of its ultimate parent company or other group companies. The company has obtained a letter of support from the ultimate parent company, to this effect. The directors have no reason to believe that such support will not continue and so consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.true

Turnover represents amounts received and receivable for services supplied during the year, excluding value added tax. Revenue is recognised when the services are provided.

Fishing quota and licence are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over 5 years.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial assets

Financial assets are classified into specific categories. The classification depends on the nature and purpose of the financial assets and are determined at the time of recognition.

Basic financial assets, being solely other receivables, are initially measured at transaction price including transaction costs and are subsequently carried at cost less impairment.

Other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'receivables'. Receivables are measured at amortised cost using the effective interest method, less any impairment. All other receivables are due within one year.

Financial assets, other than those held at fair value through profit and loss account, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit and loss account.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Other financial liabilities classified as fair value through profit and loss account are measured at fair value.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

The tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The company is party to unlimited composite guarantees and debentures in respect of the bank borrowings, where appropriate, of certain group undertakings. Overall, the group companies which are party to the guarantee had net bank indebtedness under the above arrangement at the year end amounting to £nil (2024 - £nil).

The company has taken advantage of the exemption available in accordance with section 33 of FRS 102 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.

The ultimate parent company and controlling party is Andrew Marr International Limited, a company registered in England and heads the group into which the results of the company are consolidated.