C.W. Kellock & Co. Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 March 2025
Company Registration No. 00553139 (England and Wales)
C.W. Kellock & Co. Limited
Company Information
Directors
P.D.T. Willcox
M.E. Hodgson
A.C.T. Willcox
Company number
00553139
Registered office
51 Moorgate
London
England
EC2R 6BH
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
C.W. Kellock & Co. Limited
Contents
Page
Directors' report
1
Accountants' report
2
Income statement
3
Statement of financial position
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
C.W. Kellock & Co. Limited
Directors' Report
For the year ended 31 March 2025
Page 1

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities
The principal activity of the company throughout the year was shipbroking.
Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

P.D.T. Willcox
M.E. Hodgson
C.H. Horsley
(Deceased 18 June 2025)
A.C.T. Willcox
Statement of directors' responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and Applicable Law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
P.D.T. Willcox
Director
5 November 2025
C.W. Kellock & Co. Limited
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of C.W. Kellock & Co. Limited for the year ended 31 March 2025
Page 2

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C.W. Kellock & Co. Limited for the year ended 31 March 2025 which comprise the income statement, the statement of financial position, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation-standards-and-guidance.

This report is made solely to the Board of Directors of C.W. Kellock & Co. Limited, as a body, in accordance with the terms of our engagement letter dated 12 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of C.W. Kellock & Co. Limited and state those matters that we have agreed to state to the Board of Directors of C.W. Kellock & Co. Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.W. Kellock & Co. Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that C.W. Kellock & Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C.W. Kellock & Co. Limited. You consider that C.W. Kellock & Co. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of C.W. Kellock & Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Kingston Smith LLP
10 November 2025
Chartered Accountants
6th Floor
9 Appold Street
London
EC2A 2AP
C.W. Kellock & Co. Limited
Income Statement
For the year ended 31 March 2025
Page 3
2025
2024
£
£
Revenue
101,309
110,107
Administrative expenses
(145,812)
(225,185)
Other operating income
77,000
-
0
Operating profit/(loss)
32,497
(115,078)
Investment income
-
0
1,068
Finance costs
(472)
-
0
Profit/(loss) on ordinary activities before taxation
32,025
(114,010)
Taxation
(88)
(108)
Profit/(loss) for the financial year
31,937
(114,118)
C.W. Kellock & Co. Limited
Statement of Financial Position
As at 31 March 2025
Page 4
2025
2025
2024
2024
Notes
£
£
£
£
Current assets
Trade and other receivables
4
95,769
113,522
Cash at bank and in hand
140,280
64,410
236,049
177,932
Payables: amounts falling due within one year
5
(303,971)
(277,791)
Net current liabilities
(67,922)
(99,859)
Equity
Called up share capital
6
10,500
10,500
Share premium account
7
4,500
4,500
Retained earnings
(82,922)
(114,859)
Total Equity
(67,922)
(99,859)

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 November 2025 and are signed on its behalf by:
P.D.T. Willcox
Director
Company Registration No. 00553139
C.W. Kellock & Co. Limited
Statement of Changes in Equity
For the year ended 31 March 2025
Page 5
Share capital
Share premium account
Retained earnings
Total
£
£
£
£
Balance at 1 April 2023
10,500
4,500
(741)
14,259
Year ended 31 March 2024:
Loss and total comprehensive income for the year
-
-
(114,118)
(114,118)
Balance at 31 March 2024
10,500
4,500
(114,859)
(99,859)
Year ended 31 March 2025:
Profit and total comprehensive income for the year
-
-
31,937
31,937
Balance at 31 March 2025
10,500
4,500
(82,922)
(67,922)
C.W. Kellock & Co. Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 6
1
Accounting policies
Company information

C.W. Kellock & Co. Limited is a private company limited by shares that is domiciled and incorporated in England and Wales. The registered office is 51 Moorgate, London, EC2R 6BH.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

T true he results of the company subsequent to the year end indicate the company has continued to be loss making.

The company's parent undertaking, The Eggar Forrester Group Limited, has undertaken to provide support to the company for at least twelve months from the date of approval of the financial statements. As result, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and meet its liabilities as they fall due. Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

1.3
Revenue

Revenue comprises commissions receivable less external commissions payable and ship selling costs, exclusive of VAT, and is earned entirely within the UK and derives from the company's principal activity of shipbroking.

Commission revenue is recognised when the sale contract for the ship completes.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

Basic financial instruments are measured at amortised cost. The company has no other financial instruments or basic financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

C.W. Kellock & Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 7
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from the company in independently administered funds. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 3 (202 4 - 3).

C.W. Kellock & Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 8
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2024
10,542
Disposals
(9,500)
At 31 March 2025
1,042
Depreciation and impairment
At 1 April 2024
10,542
Eliminated in respect of disposals
(9,500)
At 31 March 2025
1,042
Carrying amount
At 31 March 2025
-
0
At 31 March 2024
-
0
4
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
18,546
13,495
Amounts due from group undertakings
60,000
85,553
Other receivables
16,820
13,983
95,366
113,031
Amounts falling due after one year:
Deferred tax asset
403
491
Total debtors
95,769
113,522
C.W. Kellock & Co. Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 9
5
Payables: amounts falling due within one year
2025
2024
£
£
Trade payables
3,279
600
Amounts owed to group undertakings
281,492
249,398
Accruals and deferred income
19,200
27,793
303,971
277,791

Included in cash at bank and in hand and other payables is an amount of £5,429 (202 4 - £5,509) relating to cash held on behalf of clients.

6
Share capital
2025
2024
£
£
Issued and fully paid
10,500 Ordinary shares of £1 each
10,500
10,500
7
Share premium account
2025
2024
£
£
At beginning and end of year
4,500
4,500
8
Related party transactions

The company has taken advantage of the exemption available in accordance with FRS 102 'Related Party Disclosures' not to disclose transactions with group companies.

9
Controlling party

The immediate controlling party is The Eggar Forrester Group Limited, a company registered in England and Wales. The ultimate controlling party is The Eggar Forrester Group Holdings Limited, a company registered in England and Wales. The registered address is 51 Moorgate, London, EC2R 6BH.

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