REGISTERED NUMBER: 01306242 (England and Wales)

MINK SHIPPING LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L W Shepherd

A Shepherd

REGISTERED OFFICE:

Room 20-21 Unit 1

Robin Mills

Idle

Bradford

BD10 9TE

REGISTERED NUMBER:

01306242 (England and Wales)

ACCOUNTANTS:

Maclean & Company

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

FIXED ASSETS

Tangible assets

4

28,453

35,886

CURRENT ASSETS

Debtors

5

707,324

778,281

Cash at bank and in hand

352,182

346,297

1,059,506

1,124,578

CREDITORS

Amounts falling due within one year

6

227,762

279,107

NET CURRENT ASSETS

831,744

845,471

TOTAL ASSETS LESS CURRENT LIABILITIES

860,197

881,357

CREDITORS

Amounts falling due after more than one year

7

8,877

13,508

NET ASSETS

851,320

867,849

CAPITAL AND RESERVES

Called up share capital

9

6,100

6,100

Retained earnings

845,220

861,749

SHAREHOLDERS' FUNDS

851,320

867,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

L W Shepherd - Director

1.	STATUTORY INFORMATION

MINK 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on reducing balance

Equipment

-

15% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

Equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

27,325

75,136

102,461

DEPRECIATION

At 1 April 2024

6,831

59,744

66,575

Charge for year

5,124

2,309

7,433

At 31 March 2025

11,955

62,053

74,008

NET BOOK VALUE

At 31 March 2025

15,370

13,083

28,453

At 31 March 2024

20,494

15,392

35,886

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

27,325

DEPRECIATION

At 1 April 2024

6,831

Charge for year

5,124

At 31 March 2025

11,955

NET BOOK VALUE

At 31 March 2025

15,370

At 31 March 2024

20,494

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

202,131

272,410

Amounts owed by group undertakings

504,322

504,268

Other debtors & prepayments

871

1,603

707,324

778,281

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

4,631

4,631

Trade creditors & accruals

195,412

247,442

Taxation

24,981

24,404

Other creditors

2,738

2,630

227,762

279,107

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

8,877

13,508

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

13,508

18,139

The Hire purchase contract is secured against the asset to which it relates (note 7).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

6,000

Ordinary

£1

6,000

6,000

100

Ordinary - non voting

£1

100

100

6,100

6,100

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its director, L W Shepherd, by way of his shareholding in the Company's parent undertaking, Seabee Freight Services Limited.