FRED. OLSEN CRUISE LINES LIMITED

2ND FLOOR, 36, BROADWAY, LONDON, SW1H 0BH

Company Number: 02672435
Incorporation date: 12-Dec-1991
Status: Active
Entity type: Private Limited Company

SIC codes:
50100 Sea and coastal passenger water transport

SUMMARY

This company is 32.4 years old and is currently active. It is controlled by First Olsen (Holdings) Limited. The company has positive equity (net assets) of GBP 30.4 million which has decreased from the previous year's figure of GBP 31.1 million. The latest reported revenue figure is GBP 217.2 million which is up 10% on previous year's figure of GBP 202.5 million. The company has 4 active officers (directors or partners) who are or were officers of 75 other companies, 11 (14.7%) of which have since been dissolved or are proposed for strike off. The company has no public disputes filed on the Business Disputes Register. There are no court cases involving the company that we are aware of.

FINANCIALS (BETA)

Next accounts due: 25-Sep-2024
Accounts Filed: FULL (31-Dec-2022)

P&L Financials:

Year end	Currency	Revenue	Operating profit	Interest Received	Interest Paid	Tax	Net Profit GBP
31-Dec-2018	GBP	217,209,000	4,170,000	229,000	37,000	15,000	4,347,000
31-Dec-2017	GBP	202,459,000	8,212,000	90,000	57,000	19,000	8,226,000
31-Dec-2016	GBP	181,934,000	13,681,000	97,000	407,000	13,000	13,360,000
31-Dec-2015	GBP	169,918,000	5,043,000	38,000	192,000	18,000	4,875,000
31-Dec-2014	GBP	159,400,000	-7,702,000	49,000	901,000	-18,000	-8,572,000
31-Dec-2013	GBP	160,342,000	-25,352,000	44,000	1,011,000	-19,000	-26,329,000

Balance Sheet Financials:

Year end	Currency	Cash	Current Assets	Current Liabilities	Debt	Share Capital	Retained Earnings	Net Assets
31-Dec-2018	GBP	47,165,000	70,216,000	82,664,000	577,000	20,000,000	10,446,000	30,446,000
31-Dec-2017	GBP	45,985,000	75,066,000	91,729,000	1,200,000	20,000,000	11,099,000	31,099,000
31-Dec-2016	GBP	50,094,000	75,822,000	97,499,000	1,298,000	20,000,000	2,873,000	22,873,000
31-Dec-2015	GBP	23,680,000	39,758,000	79,166,000	1,151,000	149,000,000	-139,487,000	9,513,000
31-Dec-2014	GBP	6,628,000	31,780,000	75,373,000		149,000,000	-138,484,000	10,516,000
31-Dec-2013	GBP	17,665,000	38,317,000	64,245,000	24,509,000	135,500,000	-129,912,000	5,588,000

VALUATION EVENTS (BETA)

Year end	Currency	% Equity	Sum raised	Pre-Money Valuation*	Post-Money Valuation*	Enterprise Value**
31-Dec-2016	GBP	-645.00%	-129,000,000	149,000,000	20,000,000	48,837,500
31-Dec-2014	GBP	9.06%	13,500,000	135,500,000	149,000,000	142,358,000

* Average valuation during the period
** Estimated based on average Cash and Debt levels during period

DISPUTES

No disputes filed on www.disputesregister.org

COMPANY SECRETARY

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All apointments (active/resigned)
Active	Jeremy DOWLER	04 Sep 1995	18 Apr 2024	Company Director	British	5 - 99
Resigned	Robert Simon LEGGET	13 Dec 1991	04 Sep 1995			1 - 61

DIRECTORS

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All appointments (active/resigned)	Dissolved companies (rate)
Active	Peter Colin DEER	01 Sep 2019		Director	British	8 - 0	0 (0.0%)
Active	Richard Olav AA	11 Apr 2019		Director	Norwegian	2 - 0	0 (0.0%)
Resigned	Ove Johan SOLEM	03 May 2011	22 Mar 2013	Director	Norwegian	0 - 2	0 (0.0%)
Resigned	Jan Peter VALHEIM	10 May 2007	11 Sep 2008	Chief Financial Officer	Norwegian	0 - 2	0 (0.0%)
Resigned	Per Oscar LUND	07 Jun 2006	03 May 2011	President	Norwegian	0 - 3	0 (0.0%)
Resigned	Thomas Fredrik OLSEN	15 Nov 2005	11 Sep 2008	Shipowner	Norwegian	2 - 4	0 (0.0%)
Resigned	Michael Howard RODWELL	19 Jan 2005	31 Aug 2019	Accountant	British	0 - 9	1 (11.1%)
Resigned	Michael Howard RODWELL	19 Jan 2005	31 Aug 2019	Accountant	British	1 - 6	0 (0.0%)
Resigned	Marten LUNDE	08 Jul 2003	10 May 2007	Chief Financial Officer	Norwegian	0 - 2	1 (50.0%)
Active	Anette Sofie OLSEN	19 Jun 1998		Ship-Owner	Norwegian	3 - 5	0 (0.0%)
Resigned	Harald Ivar ANDRESEN	05 Sep 1996	11 Sep 2008	Director	Norwegian	0 - 3	1 (33.3%)
Resigned	Stein BERGBY	01 Apr 1996	24 Feb 2006	Senior Vice President	Norwegian	0 - 1	0 (0.0%)
Resigned	Fridthjov HAAVARDSSON	01 Apr 1996	08 Jul 2003	Director	Norwegian	0 - 5	1 (20.0%)
Active	Jeremy DOWLER	04 Sep 1995		Company Director	British	5 - 99	19 (18.3%)
Resigned	Paul Michael BRIGGINSHAW	19 Jul 1993	15 Feb 2005	Director	British	0 - 16	3 (18.8%)
Resigned	Thomas Fredrik OLSEN JUNIOR	19 Jul 1993	04 Jul 2022	Shipowner	Norwegian	0 - 3	1 (33.3%)
Resigned	John Cameron WALLACE	13 Dec 1991	01 Apr 1996	Director	Canadian	0 - 52	11 (21.2%)
Resigned	Derek HAYES	13 Dec 1991	01 Apr 1996	Solicitor	British	3 - 58	12 (19.7%)
Resigned	Robert Simon LEGGET	13 Dec 1991	04 Sep 1995	Director	British	1 - 61	12 (19.4%)

Number of active directors: 4
Average tenure of active directors: 16.0 years
Average tenure of resigned directors: 8.4 years
Average active director Dissolution Rate: 4.6%

DIRECTOR APPOINTMENTS IN OTHER COMPANIES

Name	Peter Colin DEER	Richard Olav AA	Anette Sofie OLSEN	Jeremy DOWLER
FRED. OLSEN OFFSHORE HOLDINGS LIMITED (00070793) - Dissolved				✔
FELIXSTOWE SHIP MANAGEMENT LIMITED (00189138) - Active				✔
FRED. DESSEN & CO., LIMITED (00255938) - Active				✔
FRED DESSEN AND CO. (CHARTERING) LIMITED (00466098) - Active				✔
BLANDFORD SHIPPING COMPANY LIMITED (00492344) - Dissolved				✔
FRED. OLSEN LIMITED (00748590) - Active			✔	✔
PETRUVIUS LIMITED (00748594) - Active			✔	✔
FRED.OLSEN FINANCE LIMITED (00944188) - Dissolved				✔
DOLPHIN DRILLING LIMITED (01017560) - Active			✔
BLANDFORD DRILLING COMPANY LIMITED (01704227) - Liquidation				✔
BIDEFORD MARINE (01771308) - Active				✔
CB FREIGHT LIMITED (01868225) - Active			✔	✔
FRED. OLSEN TRAVEL LIMITED (02287241) - Active				✔
TYNE AGENCIES LIMITED (02532273) - Dissolved				✔
FRED. OLSEN CRUISE LINES LIMITED (02672435) - Active	✔	✔	✔	✔
FRED. OLSEN SEAWIND LIMITED (02672436) - Active			✔
BEARS DOWN WINDFARM LIMITED (02677534) - Active				✔
FLAWHURST (NO.2) LIMITED (03883884) - Dissolved				✔
ROTHES WIND LIMITED (04364513) - Active				✔
PAUL'S HILL WIND LIMITED (04364516) - Active				✔
CRYSTAL RIG WINDFARM LIMITED (04364525) - Active				✔
ROTHES II LIMITED (04916606) - Active				✔
BENNAN LIMITED (04916640) - Active				✔
SEAROC LTD (04951754) - Active				✔
GOCRUISE LIMITED (05212061) - Dissolved				✔
GOCRUISE FRANCHISE LIMITED (05212738) - Active				✔
SEAROC CONSTRUCT LIMITED (05291662) - Dissolved				✔
SEAROC MARINE LIMITED (05940211) - Dissolved				✔
SEAPLANNER LIMITED (06341612) - Active				✔
SEAROC GROUP LIMITED (06416555) - Active				✔
FIRST OLSEN (HOLDINGS) LIMITED (06443267) - Active		✔	✔	✔
BALMORAL CRUISE LIMITED (06443659) - Active	✔
BLACK WATCH CRUISE LIMITED (06443666) - Active	✔
BOUDICCA CRUISE LIMITED (06443668) - Active	✔			✔
BOREALIS CRUISE LIMITED (06443700) - Active	✔			✔
BLACK PRINCE CRUISE LIMITED (06447511) - Dissolved				✔
FRED. OLSEN WIND HOLDINGS LIMITED (06577377) - Active				✔
FRED. OLSEN WIND LIMITED (06577409) - Active				✔
ELCHIES WIND LIMITED (06801474) - Active				✔
FETTERESSO WIND LIMITED (06801490) - Active				✔
BRAEMAR CRUISE II LIMITED (07868513) - Active	✔			✔
BOLETTE CRUISE LIMITED (08307805) - Active	✔			✔
FRED. OLSEN HOUSE (JV) LIMITED (11730313) - Active	✔
SCAPA SHIPPING INC (FC017211) - Active				✔
TRASSEY SHIPPING LIMITED (NI024017) - Active				✔
FRED. OLSEN RENEWABLES LICENCES LIMITED (NI039066) - Active				✔
TITANIC HOLDINGS LIMITED (NI039974) - Active				✔
WAVEBOB NORTHERN IRELAND LIMITED (NI041654) - Dissolved				✔
FORREST ESTATE LIMITED (SC138789) - Active				✔
CINCO LIMITED (SC138790) - Active				✔
TORRS HILL WINDFARM LIMITED (SC149099) - Active				✔
BROCKLOCH RIG WINDFARM LIMITED (SC149100) - Active				✔
GALLOW RIG WINDFARM LIMITED (SC149102) - Active				✔
POLWHAT RIG WINDFARM LIMITED (SC149113) - Active				✔
POLWHAT GALLOW RIG HOLDCO LIMITED (SC163810) - Active				✔
BROCKLOCH RIG I LIMITED (SC167067) - Active				✔
CRYSTAL RIG IV LIMITED (SC167068) - Active				✔
THE NATURAL POWER CONSULTANTS LIMITED (SC177881) - Active				✔
FORREST RENEWABLES LIMITED (SC199384) - Active				✔
NATURAL POWER SERVICES LIMITED (SC235046) - Active				✔
ORBITAL MARINE POWER LIMITED (SC235066) - Active				✔
MID HILL WIND LIMITED (SC257734) - Active				✔
CRYSTAL RIG II LIMITED (SC257737) - Active				✔
KUDO ENERGY LIMITED (SC267933) - Active				✔
ZX MEASUREMENT SERVICES LIMITED (SC291835) - Active				✔
WINDBORNE LIMITED (SC291836) - Active				✔
WINDY STANDARD LIMITED (SC295866) - Active				✔
WINDY STANDARD III LIMITED (SC295868) - Active				✔
NATURAL POWER ASSET MANAGEMENT LIMITED (SC303181) - Active				✔
ROTHES III LIMITED (SC307540) - Active				✔
BROCKLOCH RIG STORAGE LIMITED (SC307541) - Active				✔
ZEPHIR LIMITED (SC317594) - Active				✔
OCEAN POD LIMITED (SC347935) - Dissolved				✔
ZX LIDARS LIMITED (SC350700) - Active				✔
CRYSTAL RIG III LIMITED (SC353920) - Active				✔
PAUL'S HILL II LIMITED (SC353922) - Active				✔

SHAREHOLDERS (BETA)

Shareholder name	Share class	Shares at confirmation date
Shareholder name	Share class	2020-11-02	2019-11-02	2016-11-02	2015-11-02	2014-11-02
FIRST OLSEN (HOLDINGS) LIMITED	ORDINARY	60,000,000 100%	50,000,000 100%	20,000,000 100%	149,000,000 100%	143,000,000 100%

SHAREHOLDINGS (BETA)

Company name	Share class	Shares at confimation date
Company name	Share class	2019-12-03
FRED. OLSEN CRUISE LINES LIMITED	ORDINARY	40,000,000 64.2%
FRED. OLSEN CRUISE LINES LIMITED	ORDINARY	11,900,000 19.1%
FRED. OLSEN CRUISE LINES LIMITED	ORDINARY	10,400,000 16.7%

CONTROLLED COMPANIES / CONTROLLING ENTITIES

- >75%:Bonheur Asa (830 357 432 - Norway) active
>75%:First Olsen (Holdings) Limited (06443267 - United Kingdom) active

Controlling entities above

FRED. OLSEN CRUISE LINES LIMITED

Controlled companies below

>75%:BOLETTE CRUISE LIMITED (08307805 - UK) ceased
25-50%:FRED. OLSEN HOUSE (JV) LIMITED (11730313 - UK) active
>75%:BALMORAL CRUISE LIMITED (06443659 - UK) active
>75%:BLACK WATCH CRUISE LIMITED (06443666 - UK) active
>75%:BOUDICCA CRUISE LIMITED (06443668 - UK) active

LATE PAYMENTS REPORT

Start date	End date	Average days to pay	% invoices paid over 60 days	% invoices not paid within agreed terms	Gov.uk report
2023-07-01	2023-12-31	25	3%	35%	78423
2023-01-01	2023-06-30	25	3%	39%	71766
2022-07-01	2022-12-31	27	5%	48%	65491
2022-01-01	2022-06-30	27	3%	57%	59196
2021-07-01	2021-12-31	27	4%	58%	53696
2021-01-01	2021-06-30	26	3%	58%	45505
2020-07-01	2020-12-31	33	12%	71%	38804
2020-01-01	2020-06-30	27	3%	54%	32922
2019-07-01	2019-12-31	22	2%	27%	24962
2019-01-01	2019-06-30	23	2%	31%	16643
2018-07-01	2018-12-31	23	2%	29%	9395
2018-01-01	2018-06-30	24	2%	41%	2199

COURT CASES

No Court Cases found

PATENTS

No Patents found

COMPETITORS

(Based on Sic code: 50100 Sea and coastal passenger water transport)

Company	Registered Address	Company Number	YE Date	Revenue GBP	Net Profit GBP	Other SIC codes
RCL CRUISES LTD	7, THE HEIGHTS, BROOKLANDS, WEYBRIDGE, SURREY,, BROOKLANDS, WEYBRIDGE, ENGLAND, KT13 0XW	07366612	2017-12-31	2,989,938,000	487,045,000	79110-Travel agency activities
MAGICAL CRUISE COMPANY, LIMITED	3 QUEEN CAROLINE STREET, HAMMERSMITH, LONDON, W6 9PE	03157553	2017-09-30	1,371,592,000	297,261,000
MSC CRUISE MANAGEMENT (UK) LIMITED	5 ROUNDWOOD AVENUE, STOCKLEY PARK, UXBRIDGE, MIDDLESEX, ENGLAND, UB11 1AF	09361148	2017-12-31	1,245,363,000	121,935,000
STENA LINE LIMITED	FIRST FLOOR, 6 ARLINGTON STREET, LONDON, ENGLAND, SW1A 1RE	01402237	2017-12-31	260,200,000	5,600,000
CALMAC FERRIES LIMITED	THE FERRY TERMINAL, GOUROCK, PA19 1QP	SC302282	2018-03-31	206,952,000	4,242,000
FRED. OLSEN CRUISE LINES LIMITED	2ND FLOOR, 36, BROADWAY, LONDON, ENGLAND, SW1H 0BH	02672435	2017-12-31	202,459,000	8,226,000
STENA LINE IRISH SEA FERRIES LIMITED	FIRST FLOOR, 6 ARLINGTON STREET, LONDON, ENGLAND, SW1A 1RE	00247740	2017-12-31	116,026,000	18,584,000
SAGA CRUISES LIMITED	3 PANCRAS SQUARE, LONDON, UNITED KINGDOM, N1C 4AG	03267858	2017-12-31	88,359,000	4,172,000
SOUTHAMPTON ISLE OF WIGHT AND SOUTH OF ENGLAND ROYAL MAIL STEAM PACKET COMPANY LIMITED	12 BUGLE STREET, SOUTHAMPTON, HAMPSHIRE, SO14 2JY	00002404	2017-12-31	51,481,000	14,649,000	50200-Sea and coastal freight water transport
BLUE FUNNEL CRUISES LIMITED	FERRY HOUSE, CANUTE ROAD, SOUTHAMPTON, SO14 3FJ	02850257	2016-09-30	644,507	0
TIGRESS SPORT LIMITED	62 UPHILL WAY, UPHILL, WESTON-SUPER-MARE, AVON, ENGLAND, BS23 4TN	09864580	2019-01-31	144,569	0
WIND ENERGY MARINE LIMITED	COBALT BUSINESS EXCHANGE COBALT PARK WAY, WALLSEND, NEWCASTLE UPON TYNE, NE28 9NZ	10345840	2018-12-31	120,000	0
FLUSHING FERRY LIMITED	COVE FARM, PERRANARWORTHAL, TRURO, ENGLAND, TR3 7NZ	05861381	2018-03-31	65,122	0
CAITHNESS SEACOAST LTD	29 WHITEHOUSE PARK, WICK, CAITHNESS, KW1 4NX	SC291271	2017-12-31	37,574	0
GREEN MARINE TECHNOLOGIES LIMITED	16 TOOK'S COURT, TOOK'S COURT, LONDON, ENGLAND, EC4A 1LB	04090301	2017-10-31	24,000	0
FEARLESS LIMITED	4 BACK STREET, ABBOTSBURY, WEYMOUTH, DORSET, ENGLAND, DT3 4JP	05908903	2018-06-30	11,320	0
EAST LOTHIAN SEA FISHING LTD	11 LIGNIERES WAY, DUNBAR, EAST LOTHIAN, EH42 1FD	SC371381	2018-01-31	8,655	0
SOUTH COAST YACHTING LTD	1 HAWTHORN GRANGE, RAMSGATE, ENGLAND, CT12 5FZ	07595815	2018-04-30	7,644	0
COMMONWEALTH ARGOSY LTD	4 PEMBERTON TERRACE, CAMBRIDGE, ENGLAND, CB2 1JA	08585001	2018-12-31	95	0	56210-Event catering activities 63990-Other information service activities not elsewhere classified 94110-Activities of business and employers membership organizations
CELTIC CRUISES LIMITED	2 THE PRECINCT, REST BAY, PORTHCAWL, WALES, CF36 3RF	04256055	2018-12-31	12	0
BLUE OCEAN ADVENTURES LTD	45 HIGH STREET, HAVERFORDWEST, SA61 2BP	09306954	2018-11-30	0	0
COMMONWEALTH NAVIGATION LTD	4 PEMBERTON TERRACE, CAMBRIDGE, ENGLAND, CB2 1JA	08655657	2018-12-31	0	0
DHARMA MARINE LIMITED	FIRST FLOOR, TEMPLEBACK, 10 TEMPLE BACK, BRISTOL, ENGLAND, BS1 6FL	07976800	2018-03-31	0	0
FINANCE MANAGER SCOTLAND LTD	MERIDIAN HOUSE HATTONBURN, CLYNDER, HELENSBURGH, ARGYLL AND BUTE, G84 0QL	SC265882	2018-04-30	0	0	77341-Renting and leasing of passenger water transport equipment
MARINE AND RISK CONSULTANTS LIMITED	MARICO HOUSE, BRAMSHAW, SOUTHAMPTON, HAMPSHIRE, SO43 7JB	03767859	2018-03-31	0	0	50200-Sea and coastal freight water transport 50300-Inland passenger water transport 50400-Inland freight water transport
MINARD MARINE SURVEYING AND CONSULTING LTD	MINARD COTTAGE SCHOOL ROAD, RHU, HELENSBURGH, UNITED KINGDOM, G84 8RS	SC569064	2019-06-30	0	0	74909-Other professional, scientific and technical activities not elsewhere classified
OCEAN SAILING LIMITED	PORTSMOUTH TECHNOPOLE, KINGSTON CRESCENT, PORTSMOUTH, HAMPSHIRE, PO2 8FA	07474023	2018-12-31	0	0	77341-Renting and leasing of passenger water transport equipment
CITY CRUISES LIMITED	CHERRY GARDEN PIER CHERRY GARDEN STREET, ROTHERHITHE, LONDON, SE16 4TU	00312286	0000-00-00	0	0	50300-Inland passenger water transport
RED FUNNEL LIMITED	12 BUGLE STREET, SOUTHAMPTON, HAMPSHIRE, ENGLAND, SO14 2JY	10823670	0000-00-00	0	0	50200-Sea and coastal freight water transport

LIQUIDATION RISK (BETA)

This company is Active. Statistically, Active companies have a low probability of being liquidated within a year.
Here are our probability predictions:

Basis	Liquidation within 3 months	Liquidation within 6 months	Liquidation within 12 months	Prediction confidence
FRED. OLSEN CRUISE LINES LIMITED	0.7%	3.6%	7.1%	Medium
Other companies Active in the same sector	Too few competitors


Age	0.3%	1.3%	2.4%	Medium
Company Type	0.7%	3.7%	7.4%	Medium
Accounts category	0.7%	2.2%	3.8%	Medium
Accounting Month	0.6%	2.4%	5.5%	Medium
Sic code count	0.7%	3.5%	7.0%	Medium