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Registered number: 01273218 LOMBARD SHIPPING & FORWARDING LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
LOMBARD SHIPPING & FORWARDING LIMITED REGISTERED NUMBER: 01273218 STATEMENT OF FINANCIAL POSITION AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 1,717 |  | 6,818
|  |  | 1,717 |  | 6,818
Current assets |  |  |  |  |
Debtors: amounts falling due after more than one year | 6 | 2,747,088 |  | 2,747,088 |
Debtors: amounts falling due within one year | 6 | 621,815 |  | 443,854 |
Cash at bank and in hand | 7 | 345,931 |  | 394,681 |
|  | 3,714,834 |  | 3,585,623 |
Creditors: amounts falling due within one year | 8 | (553,638) |  | (530,334) |
Net current assets |  |  | 3,161,196 |  | 3,055,289
Total assets less current liabilities |  |  | 3,162,913 |  | 3,062,107
Accruals and deferred income | 9 |  | (1,706) |  | (6,653)
Net assets |  |  | 3,161,207 |  | 3,055,454
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 10,100 |  | 10,100
Profit and loss account |  |  | 3,151,107 |  | 3,045,354
|  |  | 3,161,207 |  | 3,055,454
Page 1
LOMBARD SHIPPING & FORWARDING LIMITED REGISTERED NUMBER: 01273218 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 JULY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2026.
F. Fox
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Lombard Shipping & Forwarding Limited is a private limited company incorporated in England and Wales. Its registered office is Lombard Business Centre, Link Road, Huyton, Merseyside, L36 6AP. The company number is 01273218. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company has cash resources and has no requirement for external funding. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term. Page 3
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.6 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of income and retained earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
| 2.7 | Interest income
Interest income is recognised in the Statement of income and retained earnings using the effective interest method.
| 2.8 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
| 2.10 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 4
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance basis.. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 15% | Reducing balance
|  |  |  | Office equipment | - | 20% | Straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of financial position date. Page 5
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.16 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.17 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Employees
| The average monthly number of employees, including directors, during the year was 8 (2024 - 8).
4. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 August 2024 | 60,000
| At 31 July 2025 | 60,000
| Amortisation |
| At 1 August 2024 | 60,000
| At 31 July 2025 | 60,000
| Net book value |
| At 31 July 2025 | -
| At 31 July 2024 | -
Page 6
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. | Tangible fixed assets
|  | Fixtures, fittings and equipment
|  | £
| Cost or valuation |
| At 1 August 2024 | 38,653
| At 31 July 2025 | 38,653
| Depreciation |
| At 1 August 2024 | 31,835
| Charge for the year on owned assets | 5,101
| At 31 July 2025 | 36,936
| Net book value |
| At 31 July 2025 | 1,717
| At 31 July 2024 | 6,818
Page 7
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due after more than one year |  |
| Other debtors | 2,747,088 | 2,747,088
|  | 2,747,088 | 2,747,088
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Due within one year |  |
| Trade debtors | 370,717 | 197,039
| Other debtors | 250,075 | 245,861
| Prepayments and accrued income | 1,023 | 954
|  | 621,815 | 443,854
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 345,931 | 394,681
|  | 345,931 | 394,681
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 145,033 | 126,241
| Corporation tax | 68,658 | 68,717
| Other taxation and social security | 3,486 | 6,473
| Other creditors | 138,474 | 125,972
| Accruals and deferred income | 197,987 | 202,931
|  | 553,638 | 530,334
Page 8
LOMBARD SHIPPING & FORWARDING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Accruals and deferred income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Grants | 1,706 | 6,653
|  | 1,706 | 6,653
10. | Pension commitments
The Company operates a defined contributions 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 £119,223 (2024 - £113,448).
11. | Related party transactions
|  | 2025 | 2024
|  | £ | £
| Amount due from companies under common control | 2,991,202 | 2,991,202
| Interest receivable from a company under common control | 30,000 | -
| Amount due to F. Fox, the director of the company | 22,264 | 34,573
12. | Controlling party
The controlling party of the company is F. Fox.
Page 9