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REGISTERED NUMBER: 03111664 (England and Wales)















Bell Shipping Limited

Financial Statements for the Year Ended 31st December 2024






Bell Shipping Limited (Registered number: 03111664)

Contents of the Financial Statements
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bell Shipping Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: N C Bell
D J Bell
Ms I Middleton





REGISTERED OFFICE: The Stone Place
Headley Lane
Passfield
Hampshire
GU30 7RX





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 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 385,000 -
Tangible assets 5 14,834 14,992
399,834 14,992

CURRENT ASSETS
Debtors 6 5,974 9,656
Cash at bank 693,898 420,774
699,872 430,430
CREDITORS
Amounts falling due within one year 7 193,483 161,482
NET CURRENT ASSETS 506,389 268,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

906,223

283,940

CREDITORS
Amounts falling due after more than
one year

8

-

(29,982

)

PROVISIONS FOR LIABILITIES (44,332 ) (597 )
NET ASSETS 861,891 253,361

Bell Shipping Limited (Registered number: 03111664)

Balance Sheet - continued
31st December 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 14,220 14,220
Share premium 37,980 37,980
Fair value reserve 9 175,098 -
Retained earnings 634,593 201,161
861,891 253,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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 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 28th April 2025 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 2024


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets - cryptocurrency
Cryptocurrency assets are initially measured at cost. They are subsequently re-measured at their fair value. Changes in the fair value are recognised in the profit and loss account.

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.


Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


2. ACCOUNTING POLICIES - continued
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.

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.

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


2. ACCOUNTING POLICIES - continued

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 2 (2023 - 2 ) .

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
Additions 209,902
Revaluations 175,098
At 31st December 2024 385,000
NET BOOK VALUE
At 31st December 2024 385,000

Bitcoin investment is held at the valuation at 31 December by the trading platform

Cost or valuation at 31st December 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2024 175,098
Cost 209,902
385,000

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2024 34,864
Additions 585
At 31st December 2024 35,449
DEPRECIATION
At 1st January 2024 19,872
Charge for year 743
At 31st December 2024 20,615
NET BOOK VALUE
At 31st December 2024 14,834
At 31st December 2023 14,992

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,974 9,656

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 190,319 98,505
Other creditors 3,164 62,977
193,483 161,482

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Trade creditors - 29,982

Bell Shipping Limited (Registered number: 03111664)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024


9. RESERVES
Fair
value
reserve
£   
Fair Value Movement 175,098

At 31st December 2024 175,098