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REGISTERED NUMBER: 01613782 (England and Wales)















B & H Shipping Limited

Unaudited Financial Statements

For The Year Ended 31st March 2024






B & H Shipping Limited (Registered number: 01613782)

Contents of the Financial Statements
For The Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


B & H Shipping Limited

Company Information
For The Year Ended 31st March 2024







DIRECTORS: K A Harper
C E Thorpe





SECRETARY: Mrs L M Harper





REGISTERED OFFICE: 3 Schneider Close
Carr Road Business Centre
Felixstowe
Suffolk
IP11 3SS





REGISTERED NUMBER: 01613782 (England and Wales)





ACCOUNTANTS: John Phillips & Co Limited
Accountants
Unit 81 Centaur Court
Claydon Business Park
Gt. Blakenham
Ipswich
Suffolk
IP6 0NL

B & H Shipping Limited (Registered number: 01613782)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 610,715 606,580
Investments 5 153 153
610,868 606,733

CURRENT ASSETS
Debtors 6 844,995 834,049
Cash at bank 381,033 474,851
1,226,028 1,308,900
CREDITORS
Amounts falling due within one year 7 1,000,816 1,110,063
NET CURRENT ASSETS 225,212 198,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

836,080

805,570

CAPITAL AND RESERVES
Called up share capital 9 248 248
Revaluation reserve 10 136,770 136,770
Retained earnings 10 699,062 668,552
SHAREHOLDERS' FUNDS 836,080 805,570

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

B & H Shipping Limited (Registered number: 01613782)

Balance Sheet - continued
31st March 2024


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 4th September 2024 and were signed on its behalf by:





K A Harper - Director


B & H Shipping Limited (Registered number: 01613782)

Notes to the Financial Statements
For The Year Ended 31st March 2024


1. STATUTORY INFORMATION

B & H 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost and 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

B & H Shipping Limited (Registered number: 01613782)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Investment property
Freehold investment properties are revalued annually to ensure that their carrying values are in accordance with approximate market values. They are not depreciated but reviewed for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Investment Motor Office
property vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 575,000 30,245 25,960 631,205
Additions - 16,800 416 17,216
At 31st March 2024 575,000 47,045 26,376 648,421
DEPRECIATION
At 1st April 2023 - 3,781 20,844 24,625
Charge for year - 10,466 2,615 13,081
At 31st March 2024 - 14,247 23,459 37,706
NET BOOK VALUE
At 31st March 2024 575,000 32,798 2,917 610,715
At 31st March 2023 575,000 26,464 5,116 606,580

B & H Shipping Limited (Registered number: 01613782)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023
and 31st March 2024 153
NET BOOK VALUE
At 31st March 2024 153
At 31st March 2023 153

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 453,828 424,016
Tax - 1,461
VAT 54,586 67,749
Prepayments 7,575 11,817
515,989 505,043

Amounts falling due after more than one year:
Amounts owed by related
companies 329,006 329,006
329,006 329,006

Aggregate amounts 844,995 834,049

B & H Shipping Limited (Registered number: 01613782)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 148,826 134,521
Trade creditors 290,575 413,046
Tax 3,335 1
Social security and other taxes 23,387 41,991
Customs Duty Account 270,683 233,491
Pension creditor 896 715
Directors' loan accounts 152,680 138,516
Accrued expenses 110,434 147,782
1,000,816 1,110,063

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

National Westminster Bank Plc holds a mortgage debenture dated 23 April 1992 as unlimited security and a personal guarantee from Mr K Harper dated 30 April 1993 for £260,000.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
144 Ordinary A £1 144 144
100 Ordinary B £1 100 100
1 Ordinary 'C' Non-voting £1 1 1
1 Ordinary 'D' Non-voting £1 1 1
1 Ordinary 'E' Non-voting £1 1 1
1 Ordinary 'F' Non-voting £1 1 1
248 248

B & H Shipping Limited (Registered number: 01613782)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2024


10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st April 2023 668,552 136,770 805,322
Profit for the year 33,510 33,510
Dividends (3,000 ) (3,000 )
At 31st March 2024 699,062 136,770 835,832

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The director KA Harper has made a personal guarantee of £260,000 to National Westminster Bank Plc dated 30 April 1993.

Loan interest of 4,988 was paid to K Harper during the year and £4,837 was paid to his wife L Harper.

12. RELATED PARTY DISCLOSURES

At 31 March 2023 a loan to GBH (Felixstowe) Limited of £329,006 (2022 - £329,006) existed. Loan interest was received of £9,180 (2021 - £18,360), Storage fees were paid to GBH (Felixstowe) Limited of £2,400 (2022: £2,400) There is a debenture in place to secure all monies due from GBH (Felixstowe) Limited to B&H Shipping Limited.

The interests of B & H Shipping Limited in the above company is as reported in note 6 of the Financial Statements.


All transactions were at arms length in the normal course of business.

13. ULTIMATE CONTROLLING PARTY

The director K A Harper, together with his wife, own 69.44% of the company's issued equity Ordinary A shares and hence have overall control.