First Klass Shipping Specialist Ltd

First Klass Shipping Specialist Ltd
Directors' Report
For the year ended 31 March 2026

Director's report and financial statements

The directors present his/her/their annual report and the financial statements for the year ended 31 March 2026

Principal activities

Principal activity of the company during the financial year was of Carriage and Freight

Directors

The directors who served the company throughout the year were as follows:

Michael Obeng

Mary Obeng

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
Michael Obeng
Director

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Mary Obeng
Director

Date approved: 21 June 2026

First Klass Shipping Specialist Ltd
Profit and Loss Account
For the year ended 31 March 2026

	Notes	31/03/2026 £	31/03/2025 £
Turnover		2,546,688	1,889,144
Cost of sales		(1,675,308)	(1,187,692)
Gross profit		871,380	701,452
Administrative expenses		(613,685)	(486,237)
Operating profit	2	257,695	215,215
Interest payable and similar charges	5	(5,904)	(2,487)
Profit/(Loss) on ordinary activities before taxation		251,791	212,728
Tax on profit on ordinary activities	6	(72,379)	(64,178)
Profit/(Loss) for the financial year		179,412	148,550

First Klass Shipping Specialist Ltd
Statement of Comprehensive Income
For the year ended 31 March 2026

	Notes	31/03/2026 £		31/03/2025 £
Profit for the financial year after taxation		179,412		148,550
Total comprehensive income/(loss) for the year		179,412		148,550

Registered Number: 08429001 First Klass Shipping Specialist Ltd
Statement of Financial Position
As at 31 March 2026

	Notes	31/03/2026 £	31/03/2025 £
Fixed assets
Tangible fixed assets	7	387,185	327,849
		387,185	327,849
Current assets
Debtors	8	5,551	8,544
Cash at bank and in hand		1,024,867	651,120
		1,030,418	659,664
Creditors: amount falling due within one year	9	(638,216)	(456,156)
Net current assets		392,202	203,508

Total assets less current liabilities		779,387	531,357
Creditors: amount falling due after more than one year	10	(152,690)	(54,237)
Provisions for liabilities	11	(56,099)	(30,934)
Net assets		570,598	446,186

Capital and reserves
Called up share capital		10	10
Profit and loss account	12	570,588	446,176
Shareholders' funds		570,598	446,186

For the year ended 31 March 2026 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 accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors on 21 June 2026 and were signed on its behalf by:

-------------------------------
Michael Obeng
Director

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Mary Obeng
Director

First Klass Shipping Specialist Ltd
Statement of Changes in Equity
For the year ended 31 March 2026

	Equity share capital	Retained Earnings	Total
	£	£	£
At 01 April 2024	10	346,126	346,136
Profit/(Loss) for the year		148,550	148,550
Total comprehensive income for the year	-	148,550	148,550
Dividends		(48,500)	(48,500)
Total investments by and distributions to owners	-	(48,500)	(48,500)
At 31 March 2025	10	446,176	446,186
At 01 April 2025	10	446,176	446,186
Profit/(Loss) for the year		179,412	179,412
Total comprehensive income for the year	-	179,412	179,412
Dividends		(55,000)	(55,000)
Total investments by and distributions to owners	-	(55,000)	(55,000)
At 31 March 2026	10	570,588	570,598

First Klass Shipping Specialist Ltd
Notes to the Financial Statements
For the year ended 31 March 2026

General Information

First Klass Shipping Specialist Ltd is a private company, limited by shares, registered in England and Wales, registration number 08429001, registration address Unit 8 and 10 Summer Hill Industrial Estate, 4 Goodman Street, , Birmingham,, West Midlands,.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Leasehold Land and Buildings	59 Years Straight Line
Motor Vehicles	25% Reducing Balance
Plant and machinery	25% Reducing Balance
Computer Equipment	25% Reducing Balance

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

Operating profit/(loss)

	31/03/2026 £	31/03/2025 £
The operating profit is stated after charging:
Directors emoluments	98,456	40,826
Depreciation of tangible fixed assets	55,941	54,808
Profit/loss on disposal of tangible fixed assets	(2,879)	1,531

Directors' Emoluments

	31/03/2026 £	31/03/2025 £
Administrative Expenses
Directors Salaries	96,413	40,000
Directors Pension Contributions	2,043	826
	98,456	40,826

4.	Average number of employees Average number of employees during the year was 17 (2025 : 8).

Interest payable and similar charges

	31/03/2026 £		31/03/2025 £
Bank & Other Loan Interest	5,904		2,487
	5,904		2,487

Tax on profit on ordinary activities

	31/03/2026 £	31/03/2025 £
UK Corporation Tax	47,214	33,244
Current Year Deferred Tax	25,165	30,934
	72,379	64,178

Tangible fixed assets

Cost or valuation	Plant and machinery	Motor Vehicles	Computer Equipment	Leasehold Land and Buildings	Total
	£	£	£	£	£
At 01 April 2025	43,807	171,580	11,888	170,000	397,275
Additions	-	135,401	-	-	135,401
Disposals	-	(43,900)	-	-	(43,900)
At 31 March 2026	43,807	263,081	11,888	170,000	488,776
Depreciation
At 01 April 2025	23,018	16,739	7,835	21,837	69,429
Charge for year	5,197	45,716	2,147	2,881	55,941
On disposals	-	(23,779)	-	-	(23,779)
At 31 March 2026	28,215	38,676	9,982	24,718	101,591
Net book values
Closing balance as at 31 March 2026	15,592	224,405	1,906	145,282	387,185
Opening balance as at 01 April 2025	20,789	154,844	4,053	148,163	327,849

The net book value of Motor Vehicles, Leasehold Land and Buildings includes £ 345,304 (2025 £238,728) in respect of assets leased under finance leases or hire purchase contracts.

Debtors: amounts falling due within one year

	31/03/2026 £		31/03/2025 £
Other Debtors	5,551		8,544
	5,551		8,544

Creditors: amount falling due within one year

	31/03/2026 £	31/03/2025 £
Trade Creditors	28,968	38,772
Bank Loans & Overdrafts	3,160	18,540
Taxation and Social Security	61,823	36,313
Obligations under HP/Financial Leases	56,907	62,835
Other Creditors	487,358	299,696
	638,216	456,156

10.

Creditors: amount falling due after more than one year

	31/03/2026 £	31/03/2025 £
Bank Loans & Overdrafts	-	54,237
Obligations under HP/Financial Leases	152,690	-
	152,690	54,237

11.

Provisions for liabilities

	31/03/2026 £		31/03/2025 £
Deferred Tax	56,099		30,934
	56,099		30,934

12.

Profit and loss account

	31/03/2026 £
Balance at 01 April 2025	446,176
Profit for the year	179,412
Equity Dividends Paid	(55,000)
Balance at 31 March 2026	570,588

First Klass Shipping Specialist Ltd
Detailed Profit and Loss Statement
For the year ended 31 March 2026

	31/03/2026 £		31/03/2025 £
Turnover
Sales		2,546,688		1,889,144
		2,546,688		1,889,144
Cost of sales
Transport, Freight & Carriage	1,584,731		1,103,987
Diesel and Petrol	90,577		83,705
		(1,675,308)		(1,187,692)
Gross profit		871,380		701,452
Administrative expenses
Wages & Salaries	210,671		83,603
Directors Salaries	96,413		40,000
Directors Employer's PAYE & NI Contributions	11,005		3,152
Directors Pension Contributions	2,043		826
Accountancy and Professional Fees	23,952		4,800
Rates & Water	18,210		14,934
Light, Heat & Power	5,036		7,439
Motor Licenses and Insurances	20,435		18,171
Motor Repairs and Servicing	61,953		115,787
Bank Charges	17,552		14,970
Depreciation Charge: Leasehold Properties	2,881		19,429
Depreciation Charge: Plant & Machinery	5,197		6,930
Depreciation Charge: Motor Vehicles	45,716		26,302
Depreciation Charge: Computer Equipment	2,147		2,147
Profit/Loss on Sale (Tangible Fixed Assets)	(2,879)		1,531
IT and Software Costs	9,354		9,524
Repairs & Renewals	18,850		30,990
Stationery & Postage	18,688		42,006
Telephone, Fax & Internet	10,237		14,360
Sundry Expenses	36,224		29,336
		(613,685)		(486,237)
Operating profit		257,695		215,215
Interest payable and similar charges
Bank & Other Loan Interest	5,904		2,487
		(5,904)		(2,487)
Profit/(Loss) on ordinary activities before taxation		251,791		212,728

Registered Number: 08429001
England and Wales
FIRST KLASS SHIPPING SPECIALIST LTD

Report of the Directors and Unaudited Financial Statements

Period of accounts Start date: 01 April 2025 End date: 31 March 2026