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Company registration number:
02257276
Puffin Shipping Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2025
Puffin Shipping Limited
Statement of Financial Position
31 December 2025

|  | 2025 | 2024
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Investments | 5 | 734,095 |  | 748,831 |
Current assets |  |  |  |  |
Debtors | 6 | 99,202 |  | 124,959 |
Cash at bank and in hand |  | 73,201 |  | 32,686 |
|  | 172,403 |  | 157,645 |
Creditors: amounts falling due within one year | 7 | (81,584 | ) | (118,556 | )
Net current assets |  | 90,819 |  | 39,089 |
Total assets less current liabilities |  | 824,914 |  | 787,920 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 700,000 |  | 700,000 |
Profit and loss account |  | 124,914 |  | 87,920 |
Shareholders funds |  | 824,914 |  | 787,920 |

For the year ending
31 December 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:

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

These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
4 June 2026
, and are signed on behalf of the board by:

A Armoush
Director

Company registration number:
02257276
Puffin Shipping Limited
Notes to the Financial Statements
Year ended
31 December 2025

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 131
,
80 Churchill Square
,
West Malling
,
Kent
,
ME19 4YU
, England.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

## 4 Average number of employees

The average number of persons employed by the company during the year was
6
(2024:
6.00
).

## 5 Investments

| Other investments other than loans
--- | ---
| £
Cost |  |
At 1 January 2025 | 748,831 |
Disposals | (14,736 | )
At 31 December 2025 | 734,095 |
Impairment |  |
At 1 January 2025 and 31 December 2025 | - |
Carrying amount |  |
At 31 December 2025 | 734,095 |
At 31 December 2024 | 748,831 |

The market value of the listed investments at 31 December 2025 was £2,312,716 (2024: £1,465,168).

## 6 Debtors

| 2025 | 2024
--- | --- | ---
| £ | £
Trade debtors | 99,202 |  | 124,959 |

## 7 Creditors: amounts falling due within one year

| 2025 | 2024
--- | --- | ---
| £ | £
Other creditors | 81,584 |  | 118,556 |

## 8 Share capital

During the period, the company had ordinary share capital (£1 per share) of £700,000 Allotted, called up and fully paid (2024: £700,000).

## 9 Controlling party

The controlling party is Mr A.H.Armoush by virtue of his ownership of 55% of the issued Ordinary share capital of the company.