Lockers Trawlers Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02175374 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

LOCKERS TRAWLERS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

A A Locker

Mrs S C Locker

J A Locker

R Barker

Mrs R Bennett

SECRETARY:

Mrs S C Locker

REGISTERED OFFICE:

Unit 2 Fairfield Way

Stainsacre Industrial Estate

Whitby

North Yorkshire

YO22 4PU

REGISTERED NUMBER:

02175374 (England and Wales)

FIXED ASSETS

Intangible assets

4

191,721

369,810

Property, plant and equipment

5

4,923,085

2,994,820

Investments

6

-

100

Investment property

7

170,000

5,284,806

3,534,730

CURRENT ASSETS

Inventories

53,790

26,092

Debtors

8

646,214

643,599

Cash at bank and in hand

4,891,621

4,138,621

5,591,625

4,808,312

CREDITORS

Amounts falling due within one year

9

4,345,164

2,867,454

NET CURRENT ASSETS

1,246,461

1,940,858

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,531,267

5,475,588

PROVISIONS FOR LIABILITIES

696,179

335,113

NET ASSETS

5,835,088

5,140,475

CAPITAL AND RESERVES

Called up share capital

240

Capital redemption reserve

35

Retained earnings

5,834,813

5,140,200

SHAREHOLDERS' FUNDS

5,835,088

5,140,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

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.

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 3 June 2026 and were signed on its behalf by:

A A Locker - Director

1.	STATUTORY INFORMATION

Lockers Trawlers 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 Pound Sterling (£).

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.

Going concern

The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies

No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions

The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue

Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Goodwill

Goodwill connected with the purchase of a trade is initially measured at cost. After initial recognition goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Business acquisitions

- 20% on straight line basis

Intangible assets

Intangible assets are initially measured at cost. After initial recognition intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Pressure stock licences

- 5% on straight line basis

Quota

- 20% on straight line basis

Property, plant and equipment

Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset overs its estimated useful life.

Freehold property

- 4% on straight line basis

Motor fishing vessels

- 5% on straight line basis

Fixtures and fittings

- 15% on reducing balance basis

Motor vehicles

- 25% on reducing balance basis

Computer equipment

- 25% on reducing balance basis

Investments in subsidiaries

Investments in subsidiary undertakings are initially measured at cost. After initial recognition investments in subsidiary undertakings are measured at cost less any accumulated impairment losses. A disposal has been recognised in the current period where the subsidiary company has been dissolved.

Investment property

Investment property is measured at fair value. Changes in fair value at the reporting date are recognised in the profit or loss for the year.

Inventories

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

Payments to defined contribution pension schemes are charged as an expense in the period to which they relate.

Contractual joint venture

The company is party to a jointly controlled trawling operation. The results presented in these financial statements include the total income and expenses from the operation, with an expense recorded which relates to the profit share attributable to the other entity in the joint venture.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2025

and 31 December 2025

168,363

7,934,379

8,102,742

AMORTISATION

At 1 January 2025

168,363

7,564,569

7,732,932

Charge for year

-

178,089

At 31 December 2025

168,363

7,742,658

7,911,021

NET BOOK VALUE

At 31 December 2025

-

191,721

At 31 December 2024

-

369,810

5.	PROPERTY, PLANT AND EQUIPMENT

Motor

Fixtures

fishing

and

Motor

Computer

vessels

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2025

5,419,800

92,828

131,041

13,026

5,656,695

Additions

2,166,756

-

79,802

-

2,246,558

Disposals

-

(37,767

)

-

(37,767

)

At 31 December 2025

7,586,556

92,828

173,076

13,026

7,865,486

DEPRECIATION

At 1 January 2025

2,515,611

71,780

63,476

11,008

2,661,875

Charge for year

270,990

3,157

25,496

504

300,147

Eliminated on disposal

-

(19,621

)

-

(19,621

)

At 31 December 2025

2,786,601

74,937

69,351

11,512

2,942,401

NET BOOK VALUE

At 31 December 2025

4,799,955

17,891

103,725

1,514

4,923,085

At 31 December 2024

2,904,189

21,048

67,565

2,018

2,994,820

Included in motor fishing vessels are additions of £2,166,756 which have not been depreciated as they relate to assets under the course of construction.

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

100

Disposals

(100

)

At 31 December 2025

-

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

100

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

170,000

NET BOOK VALUE

At 31 December 2025

170,000

At 31 December 2024

170,000

The fair value of investment property at each year end has been arrived at on the basis of valuations carried out by the directors of the company who are not professionally qualified valuers.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

527,779

523,161

Other debtors

118,435

120,438

646,214

643,599

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

899,678

187,636

Amounts owed to group undertakings

-

100

Taxation and social security

12,676

260,124

Other creditors

3,432,810

2,419,594

4,345,164

2,867,454

10.	CAPITAL COMMITMENTS

2025

2024

£

Contracted but not provided for in the

financial statements

3,500,000

-

Capital commitments are in respect of ongoing construction of fixed assets at the year end, at the estimated further costs to completion. Bank borrowing has been agreed to finance the build.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company directors operate loan accounts with the company which are repayable on demand. The following advances and credits subsisted during the years ended 31 December 2025 and 31 December 2043.

2025

2024

£

Balance outstanding at start of year

-

Amounts advanced

7,539

1,193

Amounts repaid

(7,539

)

(1,193

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

Interest has been charged at the HMRC beneficial loan rate whilst overdrawn.

12.	RELATED PARTY DISCLOSURES

The company directors have made interest free loans to the company which are repayable on demand. At the year end the total amount owed to them was £8,745 (2024 - £9,720). Information re directors' remuneration is provided in Note 4.

Included in other creditors are interest-free loans from entities controlled by company directors totalling £1,260,000 (2024 - £1,000,000).

In the period, the company credited £100 to the Income Statement in respect of write off of an outstanding loan account with a wholly owned subsidiary company, which was dissolved in the year.