REGISTERED NUMBER: 13574844 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SHIPBOB UK LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

Divey Gulati

Dhruv Saxena

Registered office:

Suite 2 First Floor

10 Temple Back

Bristol

United Kingdom

BS1 6FL

Registered number:

13574844 (England and Wales)

Auditors:

Hayvenhursts Limited

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

FIXED ASSETS

Tangible assets

4

-

4,142

CURRENT ASSETS

Debtors

5

164,864

70,197

Cash at bank

3,978,756

4,853,429

4,143,620

4,923,626

CREDITORS

Amounts falling due within one year

6

(3,866,330

)

(4,779,891

)

NET CURRENT ASSETS

277,290

143,735

TOTAL ASSETS LESS CURRENT LIABILITIES

277,290

147,877

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

21,280

13,173

Retained earnings

255,910

134,604

SHAREHOLDERS' FUNDS

277,290

147,877

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 15 September 2025 and were signed on its behalf by:

Divey Gulati - Director

1.	STATUTORY INFORMATION

Shipbob UK 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 company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£)

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.

Related party exemption

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.

Turnover

Turnover represents amounts charged to the Company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost (over 3 years)

Financial instruments

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment of debtors are recognised in the statement of profit and loss in administrative expenses.

Cash and cash equivalents

Cash and cash equivalents on the balance sheet comprise cash at the bank, cash in hand and short-term deposits.

Stock option expense

Judgement and estimation are required in determining the fair value of shares at the date of award. The fair value is estimated using valuation techniques which take into account the award's term, the risk-free interest rate and the expected volatility of the market price of the parent company's shares. Judgement and estimation are also required to assess the number of options expected to vest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 January 2024

and 31 December 2024

16,528

Depreciation

At 1 January 2024

12,386

Charge for year

4,142

At 31 December 2024

16,528

Net book value

At 31 December 2024

-

At 31 December 2023

4,142

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

164,864

70,197

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

105,013

5,305

Amounts owed to group undertakings

3,532,905

4,607,438

Taxation and social security

109,424

66,260

Other creditors

118,988

100,888

3,866,330

4,779,891

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

The Report of the auditors was unqualified.

Gareth Williams (Senior Statutory Auditor)

for and on behalf of Hayvenhursts Limited

8.	PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £62,739 (2023 : £35,305). Contributions totalling £16,147 (2023: £6,076) were payable to the fund at the balance sheet date and are included in creditors.

9.	ULTIMATE CONTROLLING PARTY

Shipbob, Inc is the company's immediate and ultimate parent company, which is registered in the United States of America.

The largest and smallest group in which the results of the Company are consolidated is that headed by Shipbob, Inc with its principal place of business at 120 N Racine Ave#100, Chicago, Illinois 60607, USA.