Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 50 true false 50 2025-01-01 Shipping agents false The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05522890 2025-01-01 2025-12-31 05522890 2024-01-01 2024-12-31 05522890 2025-12-31 05522890 2024-12-31 05522890 c:CompanySecretary1 2025-01-01 2025-12-31 05522890 c:Director1 2025-01-01 2025-12-31 05522890 c:RegisteredOffice 2025-01-01 2025-12-31 05522890 d:CurrentFinancialInstruments 2025-12-31 05522890 d:CurrentFinancialInstruments 2024-12-31 05522890 d:CurrentFinancialInstruments d:WithinOneYear 2025-12-31 05522890 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05522890 d:ShareCapital 2025-12-31 05522890 d:ShareCapital 2024-12-31 05522890 d:RetainedEarningsAccumulatedLosses 2025-12-31 05522890 d:RetainedEarningsAccumulatedLosses 2024-12-31 05522890 c:OrdinaryShareClass1 2025-01-01 2025-12-31 05522890 c:OrdinaryShareClass1 2025-12-31 05522890 c:FRS102 2025-01-01 2025-12-31 05522890 c:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 05522890 c:FullAccounts 2025-01-01 2025-12-31 05522890 c:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 05522890 e:PoundSterling 2025-01-01 2025-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05522890 BEARBULK (UK) LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BEARBULK (UK) LIMITED COMPANY INFORMATION
Director | C MacFarlane
Company secretary | J Chapman
Registered number | 05522890
Registered office | Marlborough House
| Regents Park Road
| London
| N3 2SZ
Accountants | MA Partners LLP
| Chartered Accountants
| 7 The Close
| Norwich
| Norfolk
| NR1 4DJ
BEARBULK (UK) LIMITED CONTENTS
| Page
Accountants' Report | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 - 6
BEARBULK (UK) LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BEARBULK (UK) LIMITED FOR THE YEAR ENDED 31 DECEMBER 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bearbulk (UK) Limited for the year ended 31 December 2025 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the director of Bearbulk (UK) Limited in accordance with the terms of our engagement letter dated 2 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Bearbulk (UK) Limited and state those matters that we have agreed to state to the director of Bearbulk (UK) Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bearbulk (UK) Limited and its director for our work or for this report. It is your duty to ensure that Bearbulk (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Bearbulk (UK) Limited. You consider that Bearbulk (UK) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Bearbulk (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. MA Partners LLP Chartered Accountants 7 The Close Norwich Norfolk NR1 4DJ 27 July 2026 Page 1
BEARBULK (UK) LIMITED REGISTERED NUMBER: 05522890 BALANCE SHEET AS AT 31 DECEMBER 2025
| 2025 | 2025 | 2024 | 2024
Note | £ | £ | £ | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | 1,000 |  | 1,000 |
Cash at bank and in hand |  | 1,099 |  | 1,270 |
|  | 2,099 |  | 2,270 |
Creditors: amounts falling due within one year | 5 | (10,700) |  | (5,200) |
Net current liabilities |  |  | (8,601) |  | (2,930)
Net liabilities |  |  | (8,601) |  | (2,930)
Capital and reserves |  |  |  |  |
Called up share capital | 6 |  | 1,000 |  | 1,000
Profit and loss account |  |  | (9,601) |  | (3,930)
|  |  | (8,601) |  | (2,930)
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 profit and loss account 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 6 July 2026.
C MacFarlane
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
BEARBULK (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Bearbulk (UK) Limited is a private Company, limited by shares, incorporated and domiciled in England and Wales. The registered office is Marlborough House, Regents Park Road, London, N3 2SZ. The Company's principal activity is that of shipping agents. 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
At the balance sheet date the Company had net liabilities of £8,601. The Company is therefore reliant on the support of its shareholders in order to meet its day-to-day working capital requirements and the director is confident that this will continue for the foreseeable future. The director therefore considers it appropriate to prepare the accounts on a going concern basis.
| 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
Turnover represents agency fees and commissions receivable by the Company and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, inclusive of value added tax.
| 2.5 | 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. Page 3
BEARBULK (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | 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.
| 2.7 | 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.
| 2.8 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. Page 4
BEARBULK (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.8 | Financial instruments (continued)
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The company has no employees.
Page 5
BEARBULK (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Called up share capital not paid | 1,000 | 1,000
|  | 1,000 | 1,000
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 5,200 | -
| Accruals and deferred income | 5,500 | 5,200
|  | 10,700 | 5,200
6. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and partly paid |  |
|  | 1,000 Ordinary shares of £1.00 each | 1,000 | 1,000
Page 6