REGISTERED NUMBER: 02476648 (England and Wales)

ALBAN 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:

AC Jackman

Mrs AJ Jackman

SECRETARY:

Mrs AJ Jackman

REGISTERED OFFICE:

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

REGISTERED NUMBER:

02476648 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

FIXED ASSETS

Tangible assets

4

283,359

341,491

CURRENT ASSETS

Debtors

5

120,127

116,280

Cash at bank and in hand

428,449

369,138

548,576

485,418

CREDITORS

Amounts falling due within one year

6

351,212

251,257

NET CURRENT ASSETS

197,364

234,161

TOTAL ASSETS LESS CURRENT LIABILITIES

480,723

575,652

CREDITORS

Amounts falling due after more than one year

7

(47,645

)

(108,793

)

PROVISIONS FOR LIABILITIES

10

(70,214

)

(85,000

)

NET ASSETS

362,864

381,859

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

362,764

381,759

SHAREHOLDERS' FUNDS

362,864

381,859

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2026 and were signed on its behalf by:

AC Jackman - Director

1.	STATUTORY INFORMATION

Alban 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.

Going concern

The financial statements are prepared on the going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

In preparing these financial statements, the company's critical accounting judgements and estimates are in respect of the net realisable value of stock, the depreciation rates for fixed assets and the recoverability of amounts owed by customers. Details of these judgements and estimates are described in the relevant accounting policy, the notes to the financial statements and below:

- In assessing the net realisable value of the company's stocks, factors taken into consideration include knowledge of the previous sales values and forecasts for the coming year.

- Tangible fixed assets are depreciated over their useful lives, taking into account residual values.. In determining the depreciation rates,the useful lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

- In estimating the recoverability of amounts owed by customers, the directors consider the period the debt has been outstanding and the difficulties experienced and anticipated in pursuing collection.

Estimates and judgements include the likely outcome of future events; these are made after reviewing historical data and assessing all other pertinent information.

It is possible that new information could come to light that might result in material adjustments to the items above.

Turnover

The company provides shipping services, and turnover represents the amounts received or receivable in the year for these services; it excludes 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.

Improvements to property

-

15% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

113,676

140,255

63,525

Additions

-

1,200

6,770

At 31 March 2025

113,676

141,455

70,295

DEPRECIATION

At 1 April 2024

110,317

83,077

35,431

Charge for year

855

8,606

3,085

At 31 March 2025

111,172

91,683

38,516

NET BOOK VALUE

At 31 March 2025

2,504

49,772

31,779

At 31 March 2024

3,359

57,178

28,094

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

444,404

44,860

806,720

Additions

-

12,677

20,647

At 31 March 2025

444,404

57,537

827,367

DEPRECIATION

At 1 April 2024

211,620

24,784

465,229

Charge for year

58,196

8,037

78,779

At 31 March 2025

269,816

32,821

544,008

NET BOOK VALUE

At 31 March 2025

174,588

24,716

283,359

At 31 March 2024

232,784

20,076

341,491

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

287,249

DEPRECIATION

At 1 April 2024

81,098

Charge for year

51,538

At 31 March 2025

132,636

NET BOOK VALUE

At 31 March 2025

154,613

At 31 March 2024

206,151

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

65,490

64,192

Other debtors

54,637

52,088

120,127

116,280

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

61,149

56,565

Trade creditors

63,785

44,066

Taxation and social security

111,451

89,965

Other creditors

114,827

60,661

351,212

251,257

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 8)

47,645

108,793

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

61,149

56,565

Between one and five years

47,645

108,793

108,794

165,358

Non-cancellable

operating leases

2025

2024

£

£

Within one year

4,454

-

Between one and five years

-

14,172

4,454

14,172

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

108,794

165,358

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

70,214

85,000

Deferred

tax

£

Balance at 1 April 2024

85,000

Accelerated capital allowances

(14,786

)

Balance at 31 March 2025

70,214

11.	RELATED PARTY DISCLOSURES

During the year, the Company advanced £1,878 (2024: £15,057) to Intrepid Design Ltd, in which a director has an interest. At the balance sheet date, the Company was owed £37,971 (2024: £36,093) by this company. No arrangements have been made for the payment of interest on, or the repayment of, this sum.

During the year, the Company paid:

- rent of £87,833 (2024: £85,000) to its directors to use business premises owned by them; and

- repaid £69 to (2024: borrowed £136 from) its directors.

At the balance sheet date, the Company owed the directors £208 (2024: £277). No arrangements have been made for the payment of interest on, or the repayment of, this sum.