REGISTERED NUMBER: 03111664 (England and Wales)

Bell Shipping Limited

Financial Statements for the Year Ended 31st December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N C Bell

D J Bell

Ms I Middleton

REGISTERED OFFICE:

The Stone Place

Headley Lane

Passfield

Hampshire

GU30 7RX

REGISTERED NUMBER:

03111664 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

The Engine House

77 Station Road

Petersfield

Hampshire

GU32 3FQ

FIXED ASSETS

Intangible assets

4

385,854

385,000

Tangible assets

5

15,104

14,834

Investments

6

272,373

-

673,331

399,834

CURRENT ASSETS

Debtors

7

6,009

5,974

Cash at bank

48,765

693,898

54,774

699,872

CREDITORS

Amounts falling due within one year

8

(8,462

)

193,483

NET CURRENT ASSETS

63,236

506,389

TOTAL ASSETS LESS CURRENT LIABILITIES

736,567

906,223

PROVISIONS FOR LIABILITIES

22,786

44,332

NET ASSETS

713,781

861,891

CAPITAL AND RESERVES

Called up share capital

14,220

14,220

Share premium

9

37,980

37,980

Revaluation reserve

9

13,653

-

Fair value reserve

9

52,831

131,324

Retained earnings

9

595,097

678,367

713,781

861,891

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 15th June 2026 and were signed on its behalf by:

D J Bell - Director

1.	STATUTORY INFORMATION

Bell 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. They are subsequently re-measured at their fair value. Changes in the fair value are recognised in the profit and loss account.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1st January 2025

385,000

Additions

2,847,099

Disposals

(2,741,588

)

Revaluations

(104,657

)

At 31st December 2025

385,854

NET BOOK VALUE

At 31st December 2025

385,854

At 31st December 2024

385,000

Cost or valuation at 31st December 2025 is represented by:

Other

intangible

assets

£

Valuation in 2024

175,098

Valuation in 2025

(104,657

)

Cost

315,413

385,854

Intangible asset holdings were valued on using a market value basis on 31st December 2025 by information provided .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2025

35,449

Additions

1,104

At 31st December 2025

36,553

DEPRECIATION

At 1st January 2025

20,615

Charge for year

834

At 31st December 2025

21,449

NET BOOK VALUE

At 31st December 2025

15,104

At 31st December 2024

14,834

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

254,169

Revaluations

18,204

At 31st December 2025

272,373

NET BOOK VALUE

At 31st December 2025

272,373

Cost or valuation at 31st December 2025 is represented by:

Other

investments

£

Valuation in 2025

18,204

Cost

254,169

272,373

Fixed Asset Investments were valued on an open market basis on 31st December 2025 by Redmayne Bentley Financial Advisors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

6,009

5,974

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

(11,913

)

190,319

Other creditors

3,451

3,164

(8,462

)

193,483

9.

RESERVES

Fair

Retained

Share

Revaluation

value

earnings

premium

reserve

reserve

Totals

£

£

£

£

£

At 1st January 2025

678,367

37,980

-

131,324

847,671

Deficit for the year

(27,740

)

(27,740

)

Dividends

(55,530

)

(55,530

)

Revaluations

-

-

18,204

(104,657

)

(86,453

)

Deferred tax movement

-

-

(4,551

)

26,164

21,613

At 31st December 2025

595,097

37,980

13,653

52,831

699,561

The revaluation and fair value reserves represent unrealised gains/losses on Investments and Intangibles held (net of deferred tax provisions) and are excluded from reserves available for for distribution.