| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2025 |
| for |
| Victory Fishing Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2025 |
| for |
| Victory Fishing Limited |
| Victory Fishing Limited (Registered number: 02891813) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Victory Fishing Limited (Registered number: 02891813) |
| Balance Sheet |
| 31 December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 9 |
| Fair value reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Victory Fishing Limited (Registered number: 02891813) |
| Balance Sheet - continued |
| 31 December 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Victory Fishing Limited (Registered number: 02891813) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Victory Fishing Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery | - |
| No depreciation is provided on fishing vessels. It is the company's practice to maintain its fishing vessels in a continual state of sound repair and accordingly the director considers that the residual values would be sufficiently high that depreciation is insignificant. Any permanent diminution in the value of fishing vessels is charged to the profit and loss account. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Investments |
| Investments in shares are included at fair value where the fair value can be measured reliably. Otherwise they are included at cost less impairment. Movements in fair value are recognised in profit or loss. |
| Victory Fishing Limited (Registered number: 02891813) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fishing | Plant and |
| vessels | machinery | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 January 2025 |
| Revaluations |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| Cost or valuation at 31 December 2025 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2019 | 24,778 |
| Valuation in 2020 | (15,203 | ) |
| Valuation in 2021 | 3,137 |
| Valuation in 2022 | (13,013 | ) |
| Valuation in 2023 | 4,691 |
| Valuation in 2024 | 3,714 |
| Valuation in 2025 | 11,162 |
| Cost | 92,844 |
| 112,110 |
| Victory Fishing Limited (Registered number: 02891813) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 92,844 | 92,844 |
| Fixed asset investments were valued on an open market basis on 31 December 2025 by Seven Investment Management . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security | ( |
) | ( |
) |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 188,163 | 175,830 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2025 |
| Accelerated capital allowances | 219 |
| Fair value gains on investment | 2,790 |
| Tax losses carried forward | 9,324 |
| Balance at 31 December 2025 |
| 9. | RESERVES |
| Fair |
| Retained | Share | value |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2025 | 514,238 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Gain/loss on revaln of invs | (8,371 | ) | - | 8,371 | - |
| At 31 December 2025 | 552,458 |
| The fair value reserve represents the cumulative unrealised fair value gains and losses, including the associated deferred tax, on investments. |