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REGISTERED NUMBER: 00550332 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: N G Harding
S G Harding
J J Harding



SECRETARY: N G Harding



REGISTERED OFFICE: C/O Harding Brothers
Avonmouth Way
Avonmouth
Bristol
BS11 8DD



REGISTERED NUMBER: 00550332 (England and Wales)



ACCOUNTANTS: Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT



BANKERS: HSBC Bank Plc
49 Corn Street
Bristol
BS99 7PP

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 1,348,453 1,362,839

CURRENT ASSETS
Debtors 6 65,331 44,841
Cash at bank 344,868 251,141
410,199 295,982
CREDITORS
Amounts falling due within one year 7 (393,401 ) (314,929 )
NET CURRENT ASSETS/(LIABILITIES) 16,798 (18,947 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,365,251

1,343,892

CAPITAL AND RESERVES
Called up share capital 9 2,029 2,029
Share premium 10 372 372
Revaluation reserve 10 1,055,893 1,055,893
Capital redemption reserve 10 2,271 2,271
Retained earnings 10 304,686 283,327
SHAREHOLDERS' FUNDS 1,365,251 1,343,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Balance Sheet - continued
31 DECEMBER 2023


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 13 September 2024 and were signed on its behalf by:





N G Harding - Director


HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Harding Bros (Shipping Contractors) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.
Long leasehold - 2% on cost

Included in plant and machinery are items of computer equipment which have been depreciated at 33% on cost, all other items of plant and machinery have been depreciated at 25% reducing balance.

Deferred taxation
Deferred taxation is provided for in full in respect of all timing differences that have originated, but are not reversed by the balance sheet date except for: revaluation gains and losses unless, by the balance sheet date, the company has entered into a binding agreement to sell the asset and has revalued the asset to the selling price; and taxable gains arising on revaluations or sales if it is more likely than not that the gain will be rolled over into a replacement asset.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

Revaluation of properties
Leasehold properties are carried at their open market value. A full valuation is undertaken every five years by a firm of independent valuers with an interim valuation in year three.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Freehold Long
property leasehold Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 274,773 1,647,990 1,922,763
DEPRECIATION
At 1 January 2023 - 559,924 559,924
Charge for year - 14,386 14,386
At 31 December 2023 - 574,310 574,310
NET BOOK VALUE
At 31 December 2023 274,773 1,073,680 1,348,453
At 31 December 2022 274,773 1,088,066 1,362,839

A lease was entered into in 1973 for a 99 year duration. At the balance sheet date there was 50 years remaining.

During 2013 a further leasehold property was acquired under a 1,000 year lease commencing in 1992. At the balance sheet date there was 970 years remaining.

Cost or valuation at 31 December 2023 is represented by:

Freehold Long
property leasehold Totals
£    £    £   
Valuation in 1999 - 653,673 653,673
Valuation in 2005 - 275,000 275,000
Cost 274,773 719,317 994,090
274,773 1,647,990 1,922,763

If Leasehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 719,317 719,317
Aggregate depreciation (174,534 ) (160,148 )

Value of land in freehold land and buildings 140,086 140,086

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

The warehouse property was last valued at 31st December 2005 by DTZ Debenham Tie Leung. Since that time the property has been subject to improvement and high levels of maintenance by both the Company and the long term tenant. The tenant signed a 10 year lease agreement in May 2010. Having reviewed the basis of the most recent valuation, the rent currently payable by the tenant and the term of the current lease on the premises, it is the opinion of the directors that the current carrying value is a fair estimate of the open market value of the property and that the costs of performing a full revaluation of the property would be disproportionate to the benefit that would be obtained

During 2013 the company acquired a further leasehold property under a lease of 1,000 years commencing in 1992. The directors consider the value of this property to be equal to its acquisition cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 63,659 43,859
Deferred tax asset 144 133
Prepayments 1,528 849
65,331 44,841

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 312 2,473
Tax 21,724 18,193
Social security and other taxes 10,054 1,347
VAT 37,523 9,215
Other creditors 235 235
Directors' current accounts 110,921 145,921
Accrued expenses 212,632 137,545
393,401 314,929

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. DEFERRED TAX
£   
Balance at 1 January 2023 (133 )
Movement for the year
Balance at 31 December 2023 (133 )

** BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT
SCREEN OF

(133

)
DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB (144 )

PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC

Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign)


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,029 Ordinary A shares £1 2,029 2,029

10. RESERVES
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 January 2023 283,327 372 1,055,893 2,271 1,341,863
Profit for the year 21,359 21,359
At 31 December 2023 304,686 372 1,055,893 2,271 1,363,222

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have rights accruing under a company pension scheme.

Mr N G Harding is also a director of Harding Brothers Retail Limited. During the year Harding Bros (Shipping Contractors) Limited recharged goods and services to them. As at 31 December 2023 Harding Brothers Retail Limited owed the company £59,459 (2022 - £39,659) this is included within trade debtors.

HARDING BROS (SHIPPING CONTRACTORS)
LIMITED (REGISTERED NUMBER: 00550332)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. ULTIMATE CONTROLLING PARTY

Mr N G Harding a director, controlled the company by virtue of an interest of 80% of the issued ordinary voting share capital in the company

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Harding Bros (Shipping Contractors)
Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harding Bros (Shipping Contractors) Limited for the year ended 31 December 2023 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Harding Bros (Shipping Contractors) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Harding Bros (Shipping Contractors) Limited and state those matters that we have agreed to state to the Board of Directors of Harding Bros (Shipping Contractors) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Harding Bros (Shipping Contractors) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Harding Bros (Shipping Contractors) 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 profit of Harding Bros (Shipping Contractors) Limited. You consider that Harding Bros (Shipping Contractors) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Harding Bros (Shipping Contractors) 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.






Hayvenhursts
Fairway House
Links Business Park
St Mellons
Cardiff
CF3 0LT


13 September 2024