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REGISTERED NUMBER: 00774336 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HARWICH DOCK COMPANY LIMITED

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HARWICH DOCK COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A W S Binks
T A Binks
W A Binks





SECRETARY: J P Ward





REGISTERED OFFICE: The Naval House
Kings Quay Street
Harwich
Essex
CO12 3JJ





REGISTERED NUMBER: 00774336 (England and Wales)





AUDITORS: LB Group
The Octagon
Suite E2
Middleborough
Colchester
Essex
CO1 1TG

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,981 138,932
Investments 5 1,019 1,019
98,000 139,951

CURRENT ASSETS
Stocks 28,711 35,492
Debtors 6 212,854 477,475
Cash at bank and in hand 128,296 47,872
369,861 560,839
CREDITORS
Amounts falling due within one year 7 268,747 272,616
NET CURRENT ASSETS 101,114 288,223
TOTAL ASSETS LESS CURRENT LIABILITIES 199,114 428,174

CREDITORS
Amounts falling due after more than one
year

8

53,591

83,108
NET ASSETS 145,523 345,066

CAPITAL AND RESERVES
Called up share capital 11 550,000 550,000
Retained earnings 12 (404,477 ) (204,934 )
SHAREHOLDERS' FUNDS 145,523 345,066

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 18 September 2024 and were signed on its behalf by:





W A Binks - Director


HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Harwich Dock Company 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.

The Company's parent undertaking Mann Group Limited included the Company in its consolidated financial statements. The consolidated financial statements of Mann Group Limited are prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (UK General Accepted Accounting Practice) and are available to the public and may be obtained from the Registrar of Companies (England & Wales).

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the accounting policies.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.

The following principal accounting policies have been applied:

Turnover
Turnover 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, excluding discounts, rebates, value added tax and other sales taxes.

Handling and related services are recognised on the day the activity is completed.

Warehouse turnover is recognised over the relevant period of time.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery etc - 20% straight line, 25% straight line and 33.3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Going concern
The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons.

The directors have prepared forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funding to meet its liabilities as they fall due and to continue in operation for the foreseeable future.

Those forecasts are dependent on Navyard Limited a fellow subsidiary not demanding immediate repayment of the amounts due to it. Navyard Limited have indicated they do not intend to make such a demand.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Defined contribution pension plan
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.

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

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.

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.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Finance Costs
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 36 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,724,322
Additions 15,000
At 31 December 2023 1,739,322
DEPRECIATION
At 1 January 2023 1,585,390
Charge for year 56,951
At 31 December 2023 1,642,341
NET BOOK VALUE
At 31 December 2023 96,981
At 31 December 2022 138,932

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 257,353
DEPRECIATION
At 1 January 2023 128,847
Charge for year 51,468
At 31 December 2023 180,315
NET BOOK VALUE
At 31 December 2023 77,038
At 31 December 2022 128,506

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1,019
NET BOOK VALUE
At 31 December 2023 1,019
At 31 December 2022 1,019

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,040 47,182
Amounts owed by group undertakings 65,296 264,630
Other debtors 93,518 165,663
212,854 477,475

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 29,518 50,278
Trade creditors 130,727 116,155
Amounts owed to group undertakings 39,148 48,395
Taxation and social security 28,069 15,039
Other creditors 41,285 42,749
268,747 272,616

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 53,591 83,108

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 35,339 59,625
Between one and five years 59,028 94,367
94,367 153,992

Finance charges repayable:
Within one year 5,821 9,347
Between one and five years 5,437 11,259
11,258 20,606

Net obligations repayable:
Within one year 29,518 50,278
Between one and five years 53,591 83,108
83,109 133,386

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 83,109 133,386

The finance lease and hire purchase creditors are secured on the specific assets to which they relate.

HARWICH DOCK COMPANY LIMITED (REGISTERED NUMBER: 00774336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
550,000 Ordinary £1 550,000 550,000

12. RESERVES
Retained
earnings
£   

At 1 January 2023 (204,934 )
Deficit for the year (199,543 )
At 31 December 2023 (404,477 )

Profit and loss account

This represents cumulative profit or losses, net of dividends paid and other adjustments.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Robert Graham Green (Senior Statutory Auditor)
for and on behalf of LB Group

14. RELATED PARTY DISCLOSURES

As a wholly owned subsidiary of BNX Holdings Limited the company is exempt from the requirements of FRS102 to disclose transactions with other members of the group headed by BNX Holdings Limited.

Traminco Limited is a related party by virtue of common control. During the year Traminco Limited made charges for services, including management and consultancy services provided by the directors, amounting to £63,000 (2022: £63,000).

15. POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end.

16. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking of this company is BNX Holdings Limited which is registered in Jersey. The company is included in the consolidated accounts of Mann Group Limited, Naval House, Kings Quay Street, Harwich, CO12 3JJ, the company's immediate parent undertaking and controlling related party under the definition set out in FRS102 by virtue of its shareholding in the company. Mann Group Limited's accounts are available from the Registrar of Companies (England & Wales), Companies House, Crown Way, Cardiff, CF14 3UZ. The ultimate controlling related party based on the definitions and requirements of FRS 102 is considered to be AWS Binks as a result of his shareholdings, his beneficial interest under a trust and position on the Board of Directors of the ultimate parent undertaking.