StoreShip Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06835412

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		3,066		3,066
Tangible Assets	5		20,391		26,114

			23,457		29,180
CURRENT ASSETS
Debtors	6	118,998		60,963
Cash at bank and in hand		6,929		40,787

		125,927		101,750
Creditors: Amounts Falling Due Within One Year	7	(69,487 )		(75,815 )

NET CURRENT ASSETS (LIABILITIES)			56,440		25,935

TOTAL ASSETS LESS CURRENT LIABILITIES			79,897		55,115

NET ASSETS			79,897		55,115

CAPITAL AND RESERVES
Called up share capital	8		10		10
Profit and Loss Account			79,887		55,105

SHAREHOLDERS' FUNDS			79,897		55,115

Page 1

Page 2

StoreShip Ltd

Balance Sheet (continued)

As At 31 March 2025

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

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Webb

Director

31/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

StoreShip Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06835412 . The registered office is Oakfield House, Derby Road, Heanor, DE75 7QL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	20% on reducing balance
Computer Equipment	25% on reducing balance

2.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

Page 3

Page 4

StoreShip Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 6)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2024	3,066

As at 31 March 2025	3,066

Net Book Value
As at 31 March 2025	3,066

As at 1 April 2024	3,066

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	70,014	9,450	18,978	36,174	134,616
Additions	-	-	-	894	894

As at 31 March 2025	70,014	9,450	18,978	37,068	135,510

Depreciation
As at 1 April 2024	56,416	7,348	16,261	28,477	108,502
Provided during the period	3,400	525	544	2,148	6,617

As at 31 March 2025	59,816	7,873	16,805	30,625	115,119

Net Book Value
As at 31 March 2025	10,198	1,577	2,173	6,443	20,391

As at 1 April 2024	13,598	2,102	2,717	7,697	26,114

Page 4

Page 5

StoreShip Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	20,029	19,793
Other debtors	4,931	4,931
Director's loan account	57,799	-
Amounts owed by other participating interests	36,239	36,239

	118,998	60,963

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	36,050	36,821
Bank loans and overdrafts	4,432	4,414
Corporation tax	9,151	9,216
Other taxes and social security	7,441	10,087
VAT	942	669
Other creditors	10,506	11,985
Accruals and deferred income	965	965
Director's loan account	-	1,658

	69,487	75,815

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	10	10

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Paul Webb	-	57,799	-	-	57,799

The above loan is unsecured, interest free and repayable on demand.

Page 5