FRED. OLSEN CRUISE LINES LIMITED

• ⚠

  Material uncertainty over going concern

  Cashflow forecasts prepared indicate that the Company will have sufficient cash reserves through to the end of the next period. Based on the above considerations the Directors believe that it remains appropriate to prepare the financial statements on a going concern basis, however, the continued uncertainty of availability of cashflows to satisfy loan repayments, and amounts owed to group undertakings payable on demand, represents a material uncertainty that may cast significant doubt upon the Company's ability to continue as a going concern.

1. FRED. OLSEN CRUISE LINES LIMITED 1993-08-03 → present
2. FELSHAM LIMITED 1992-07-17 → 1993-08-03
3. FORREST ESTATE LIMITED 1991-12-12 → 1992-07-17

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Xeinadin Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Cashflow forecasts prepared indicate that the Company will have sufficient cash reserves through to the end of the next period. Based on the above considerations the Directors believe that it remains appropriate to prepare the financial statements on a going concern basis, however, the continued uncertainty of availability of cashflows to satisfy loan repayments, and amounts owed to group undertakings payable on demand, represents a material uncertainty that may cast significant doubt upon the Company's ability to continue as a going concern.”

Group structure

1. FRED. OLSEN CRUISE LINES LIMITED · parent
   1. Black Watch Cruise Ltd 100% · UK · Non-trading
   2. Boudicca Cruise Ltd 100% · UK · Non-trading
   3. Balmoral Cruise Ltd 100% · UK · Cruise vessel owner

Significant events

• “During the 2023, the Company disposed of its only vessel, MV Braemar.”
• “A capital repayment of £10,000,000 was made in December 2024; with a minimum repayment of £10,000,000 scheduled for 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +7.4%

  £247,482,000 → £265,701,000

• Cash

  +18.3%

  £22,781,000 → £26,944,000

• Net assets

  +8.7%

  -£142,048,000 → -£129,714,000

• Employees

  -0.1%

  1,957 → 1,955

• Operating profit

  +180.2%

  £6,241,000 → £17,488,000

• Profit before tax

  +94.2%

  £6,092,000 → £11,828,000

• Wages

  +7.6%

  £40,110,000 → £43,140,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers