REGISTERED NUMBER: 01855673 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Fast Shipping Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J J E Forward

G L Howson

Y S G Vlaminckx

REGISTERED OFFICE:

Chapel House

Kings Road

Immingham

North East Lincs

DN40 1QS

REGISTERED NUMBER:

01855673 (England and Wales)

AUDITORS:

Xeinadin Humber Limted

117 - 119 Cleethorpe Road

Grimsby

North East Lincs

DN31 3ET

CURRENT ASSETS

Debtors

5

421,731

49,882

Cash at bank and in hand

138,576

391,552

560,307

441,434

CREDITORS

Amounts falling due within one year

6

329,405

203,956

NET CURRENT ASSETS

230,902

237,478

TOTAL ASSETS LESS CURRENT LIABILITIES

230,902

237,478

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

80,902

87,478

SHAREHOLDERS' FUNDS

230,902

237,478

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 2 September 2025 and were signed on its behalf by:

G L Howson - Director

1.	STATUTORY INFORMATION

Fast 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.

Turnover

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

Freight forwarding turnover represents the invoiced value of freights forwarded, turnover is recognised on the date of arrival of an import vessel or the date of departure of an export vessel.

Warehousing turnover is recognised on a time basis in respect of the storage of customers' goods.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost and 20% on cost

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

11,992

DEPRECIATION

At 1 January 2024

and 31 December 2024

11,992

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

411,504

39,220

Other debtors

10,227

10,662

421,731

49,882

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

254,195

81,101

Amounts owed to group undertakings

57,090

110,000

Taxation and social security

777

1,306

Other creditors

17,343

11,549

329,405

203,956

The amounts owed to group undertakings are unsecured, interest free and have no fixed date of repayment.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Stothard BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Humber Limted

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.