Kingstown Shipping Limited Accounts






Kingstown Shipping Limited

	Company No. 02025160
		Information for Filing with The Registrar
		30 June 2026

at	30 June 2026
Company No.		02025160	Notes	2026	2025
				£	£
Fixed assets
	Intangible assets		7	-	-
	Tangible assets		8	76,600	44,923


				76,600	44,923
Current assets

	Debtors		9	198,735	138,039

	Cash at bank and in hand			582,766	588,506
				781,501	726,545
Creditors: Amount falling due within one year			10	(286,665)	(190,828)
Net current assets				494,836	535,717
Total assets less current liabilities				571,436	580,640

Provisions for liabilities
	Deferred taxation		12	(10,182)	(8,221)

Net assets				561,254	572,419

Capital and reserves
	Called up share capital			67	67


	Capital redemption reserve		14	36	36
	Profit and loss account		14	561,151	572,316

Total equity				561,254	572,419



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 09 October 2026 and signed on its behalf by:
S. Shores
Director
09 October 2026

for the year ended 30 June 2026

General information

Kingstown Shipping Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 02025160

Its registered office is:

7d Priory Tec Park

Saxon Way

Hessle

East Yorkshire

HU13 9PB

The accounts have been prepared in accordance and comply with FRS 102 and Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Going concern

The directors have prepared the financial statements on a going concern basis. They have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This assessment covers a period of at least twelve months from the date of approval of these financial statements. In making this evaluation, the directors considered the company's current financial position, trading performance, and principal risks and uncertainties.

Accounting policies

Revenue recognition

Revenue represents the net fees, commissions, and margins earned by the company for arranging international freight forwarding services, alongside fees for ancillary logistics services, excluding Value Added Tax.
The company acts as an agent in its core freight forwarding transactions. Its primary performance obligation is satisfied by arranging the transit service between the customer and third-party carriers, rather than providing the physical transport itself. Accordingly, freight forwarding revenue is recognized at the point in time when the booking arrangement is successfully secured and the cargo is dispatched. This revenue is presented on a net basis within turnover.

Revenue from ancillary services is recognized as follows:

Customs Clearance: Revenue from Customs clearance and documentation services is recognised at the point in time when the declaration is completed and successfully lodged with the relevant customs authorities. This is presented on a gross basis where the company controls the provision of the compliance service.

Contract Assets and Liabilities
Fees received from customers in advance of the booking confirmation, dispatch, or clearance are deferred as contract liabilities (deferred income). Services fully rendered but not yet invoiced at the reporting date are recognized as contract assets (accrued income).

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

33% Straight line

Motor vehicles

25% Reducing balance

Furniture, fittings and equipment

15% Reducing balance

Leased assets

The company has elected to apply the recognition exemption for leases of low-value assets under FRS 102 Section 20. Accordingly, the company’s office equipment lease arrangements are not capitalised on the balance sheet. Lease payments are charged directly to the Profit and Loss Account as an operating expense on a straight-line basis over the lease term.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Employee benefits

Defined contribution pensions

The company pays into into defined contribution pension arrangements for staff. Contributions are expensed as they fall due at the undiscounted amounts expected to be paid. Contributions falling due but are unpaid at the year end are recognised as a liability. The assets of these schemes are held separately from those of the company in independently administered funds.

Other employee benefits

Short-term employee benefits, including wages, salaries, and social security contributions, are recognized as an expense in the period in which the employee renders the related service. Termination benefits are recognised as an immediate expense at the best estimate of the expenditure to be incurred
A liability is recognized for the cost of accumulating compensated absences (annual leave) that are untaken at the reporting date. This holiday pay accrual is measured at the undiscounted contractual cost of the remaining holiday entitlement owed to employees as a result of their service up to the balance sheet date.

3	Items of income or expenses of exceptional size or incidence
			2026	2025
			£	£
		Pension costs	17,530	132,966

4	Lease expenses

		Leases expenses recognised in the Profit & Loss Account for the period
			2026	2025
			£	£

		Expense relating to leases of low-value assets	420	330

5	Employees
			2026	2025
			Number	Number
		The average monthly number of employees (including directors) during the year was:	8	10

6	Taxation
		(a) Tax on profit on ordinary activities	2026	2025
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	55,597	18,654

		Total corporation tax	55,597	18,654

		Origination and reversal of timing differences	1,961	(451)

		Total deferred tax	1,961	(451)

		Tax on profit on ordinary activities	57,558	18,203

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The differences are reconciled below:
		Higher	2026	2025
		2210	£	£
		Profit on ordinary activities before tax	221,393	79,651

		Standard rate of corporation tax in the United Kingdom	25%	25%

		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	55,348	19,913
		Expenses not deductible for tax purposes	1,244	779


		Other short term timing differences	966	(2,489)

		Tax on profit on ordinary activities	57,558	18,203

		(c) Factors that may affect future tax charges
		Capital losses brought forward and carried forward £12,250.

7	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 July 2025	6,753	6,753


		At 30 June 2026	6,753	6,753
		Amortisation and impairment
		At 1 July 2025	6,753	6,753



		At 30 June 2026	6,753	6,753
		Net book values
		At 30 June 2026	-	-
		At 30 June 2025	-	-

		Intangible fixed assets relate to purchased goodwill.

8	Tangible fixed assets
			Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 July 2025	49,563	93,506	143,069
		Additions	35,236	5,844	41,080


		Disposals	(21,613)	-	(21,613)
		At 30 June 2026	63,186	99,350	162,536
		Depreciation
		At 1 July 2025	22,612	75,534	98,146
		Charge for the year	3,837	3,837	7,674


		Disposals	(19,884)	-	(19,884)
		At 30 June 2026	6,565	79,371	85,936
		Net book values
		At 30 June 2026	56,621	19,979	76,600
		At 30 June 2025	26,951	17,972	44,923

9	Debtors
			2026	2025
			£	£
		Trade debtors	163,892	116,705



		VAT recoverable	11,364	4,015

		Other debtors	4,540	6,290
		Prepayments and accrued income	18,939	11,029
			198,735	138,039

10	Creditors:
		amounts falling due within one year
			2026	2025
			£	£




		Trade creditors	85,958	64,768

		Taxes and social security	159,895	82,778
		Loans from directors	5,036	36
		Other creditors	8,139	8,486
		Accruals and deferred income	27,637	34,760
			286,665	190,828

Lease expenses

Obligations under operating leases

At the balance sheet date, the total outstanding future minimum lease payments under non-cancellable operating leases for low-value equipment were £1,365 (2025: £1,784).

12	Deferred taxation
			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 July 2025	8,221	8,221
		Charge to the profit and loss account for the period	1,961	1,961

		At 30 June 2026	10,182	10,182


			2026	2025
			£	£
		Accelerated capital allowances	7,758	6,265
		Tax losses	(3,063)	(2,703)

		Other timing differences	5,487	4,659
			10,182	8,221

Share Capital

Share capital of 67 Ordinary shares of £1 comprises 34 ordinary A shares of £1 all issued and fully paid, 25 ordinary B shares of £1 issued and fully paid, and 8 ordinary C shares of £1 issued and fully paid.

14	Reserves
			Capital redemption reserve	Total other reserves
			£	£
		At 1 July 2024	36	36



		At 30 June 2025 and 1 July 2025	36	36



		At 30 June 2026	36	36


		Capital redemption reserve - records the nominal value of shares repurchased by the company.

		Profit and loss account - includes all current and prior period retained profits and losses.

Contingent Assets and Liabilities

A duty deferment guarantee for £80,000 (2025 £80,000) is held by the bank in favour of H M Revenue and Customs. In the opinion of the directors no amounts are likely to be paid under the guarantee.

16	Dividends
			2026	2025
			£	£
		Dividends for the period:
		Dividends paid in the period	175,000	135,000

			175,000	135,000

		Dividends by type:
		Non-equity preference dividends	-	-
		Equity dividends	175,000	135,000
			175,000	135,000