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REGISTERED NUMBER: 03111664 (England and Wales)















Bell Shipping Limited

Unaudited Financial Statements for the Year Ended 31st December 2021






Bell Shipping Limited (Registered number: 03111664)

Contents of the Financial Statements
for the Year Ended 31st December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bell Shipping Limited

Company Information
for the Year Ended 31st December 2021







DIRECTORS: Mrs R A Bell
N C Bell
D J Bell





REGISTERED OFFICE: 105 Sussex Road
Petersfield
Hampshire
GU31 4LB





REGISTERED NUMBER: 03111664 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
The Engine House
77 Station Road
Petersfield
Hampshire
GU32 3FQ

Bell Shipping Limited (Registered number: 03111664)

Balance Sheet
31st December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 44,093 45,456

CURRENT ASSETS
Debtors 5 36,885 38,259
Cash at bank 162,460 222,596
199,345 260,855
CREDITORS
Amounts falling due within one year 6 (69,103 ) (65,622 )
NET CURRENT ASSETS 130,242 195,233
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,335

240,689

CREDITORS
Amounts falling due after more than one
year

7

(119,929

)

(198,018

)

PROVISIONS FOR LIABILITIES (1,037 ) (1,037 )
NET ASSETS 53,369 41,634

CAPITAL AND RESERVES
Called up share capital 14,220 14,220
Share premium 37,980 37,980
Retained earnings 1,169 (10,566 )
53,369 41,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

Bell Shipping Limited (Registered number: 03111664)

Balance Sheet - continued
31st December 2021


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 Profit and Loss Account and Statement of Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th August 2022 and were signed on its behalf by:





D J Bell - Director


Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements
for the Year Ended 31st December 2021


1. STATUTORY INFORMATION

Bell Shipping 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.

The accounts have been prepared on the going concern basis as in the opinion of the directors the effects of Covid-19 will not significantly impact on the company's ability to continue to operate.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account and Statement of Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of fixed assets
At each reporting period end date,,the company reviews the carrying amounts of its tangible assets
to determine whether there is any indication that those assets have suffered an impairment loss. If
any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present value using a pre-tax discount
rate that reflects current market assessments of the time value of money and the risks specific to
the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its
carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its
recoverable amount..An impairment loss is recognised immediately in profit or loss, unless the
relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a
revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset
(or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that
the increased carrying amount does not exceed the carrying amount that would have been
determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior
years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the
relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is
treated as a revaluation increase.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2021
and 31st December 2021 78,189
DEPRECIATION
At 1st January 2021 32,733
Charge for year 1,363
At 31st December 2021 34,096
NET BOOK VALUE
At 31st December 2021 44,093
At 31st December 2020 45,456

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 70 -
Other debtors 36,815 38,259
36,885 38,259

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts - 50,000
Trade creditors - 200
Taxation and social security 66,744 4,743
Other creditors 2,359 10,679
69,103 65,622

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Trade creditors 119,929 198,018

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2021 and 31st December 2020:

2021 2020
£    £   
N C Bell
Balance outstanding at start of year 20,018 19,015
Amounts advanced 710 1,003
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,728 20,018

D J Bell
Balance outstanding at start of year 324 -
Amounts advanced - 324
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 324 324