Not for the first time billblow is confused.
The period of the photograph is during the vessels life with the Mr Beeley and Mr Sleight.
Cox gives the owner amongst others as A Beeley and then Sleights S.F.C.L. managed by Beeley & Sleight.
The funnel livery is for Beeley & Sleight S.F.C.L. from the top band down White, Red, Yellow and lastly Blue.
Cox does not mention Beeley & Sleight so it would appear that amongst the conglomeration of Beeley & Sleight companies the funnel livery was inter-changeable or else he missed a period when she was actually registered to Beeley & Sleight S.F.C.L
For what it's worth.
The 1938 Olsen's has her owners as:-
Princess S.F.Co.Ltd. Grimsby
During WW1 she had the Adm. No.3265 and the name Pelican II
During WW2 she had the name Eridamus.
A really good photograph, looks like a recent paint job on the casing panels, grained appearance I would think.