IRIS Accounts Production v24.2.0.383 09488380 Board of Directors 1.1.23 31.12.23 31.12.23 26.9.24 false true false false true false Auditors Opinion Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh094883802022-12-31094883802023-12-31094883802023-01-012023-12-31094883802021-12-31094883802022-01-012022-12-31094883802022-12-3109488380ns15:EnglandWales2023-01-012023-12-3109488380ns14:PoundSterling2023-01-012023-12-3109488380ns10:Director12023-01-012023-12-3109488380ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109488380ns10:SmallEntities2023-01-012023-12-3109488380ns10:Audited2023-01-012023-12-3109488380ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109488380ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109488380ns10:FullAccounts2023-01-012023-12-3109488380ns10:Director22023-01-012023-12-3109488380ns10:RegisteredOffice2023-01-012023-12-3109488380ns5:CurrentFinancialInstruments2023-12-3109488380ns5:CurrentFinancialInstruments2022-12-3109488380ns5:ShareCapital2023-12-3109488380ns5:ShareCapital2022-12-3109488380ns5:RetainedEarningsAccumulatedLosses2023-12-3109488380ns5:RetainedEarningsAccumulatedLosses2022-12-3109488380ns5:FurnitureFittings2022-12-3109488380ns5:ComputerEquipment2022-12-3109488380ns5:FurnitureFittings2023-01-012023-12-3109488380ns5:ComputerEquipment2023-01-012023-12-3109488380ns5:FurnitureFittings2023-12-3109488380ns5:ComputerEquipment2023-12-3109488380ns5:FurnitureFittings2022-12-3109488380ns5:ComputerEquipment2022-12-3109488380ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3109488380ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3109488380ns5:CurrentFinancialInstruments2023-01-012023-12-3109488380ns5:DeferredTaxation2022-12-3109488380ns5:DeferredTaxation2023-01-012023-12-3109488380ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 09488380 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

China Harbour Engineering Company (UK)
Limited

China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


China Harbour Engineering Company (UK)
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr Feng Lin
China Habour Engineering Company Limited





REGISTERED OFFICE: Apartment 16.04
Landmark West Tower (Tower 1)
22 Marsh Wall
London
E14 9AH





REGISTERED NUMBER: 09488380 (England and Wales)





AUDITORS: Shinewing Wilson Accountancy Limited
Chartered Certified Accountants
and Statutory Auditors
9 St Clare Street
London
EC3N 1LQ

China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 264
Investment property 5 1,606,000 1,606,000
1,606,000 1,606,264

CURRENT ASSETS
Debtors 6 1,872 7,313

CREDITORS
Amounts falling due within one year 7 2,917,957 2,844,339
NET CURRENT LIABILITIES (2,916,085 ) (2,837,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,310,085

)

(1,230,762

)

PROVISIONS FOR LIABILITIES 8 19,873 15,054
NET LIABILITIES (1,329,958 ) (1,245,816 )

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings (1,429,958 ) (1,345,816 )
SHAREHOLDERS' FUNDS (1,329,958 ) (1,245,816 )

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 26 September 2024 and were signed on its behalf by:





Mr Feng Lin - Director


China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

China Harbour Engineering Company (UK) 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. 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 as modified by the revaluation of certain assets.

Going concern
The company incurred a loss of £79K and had net current liabilities of £2.9 million and net liabilities of £1.3 million as at the balance sheet date, which is mainly due to the amounts owed to group undertakings, no short-term demand on the repayment of the funds is expected to be instructed. The company meets its day to day working capital requirements through financial support from its immediate parent company, which has confirmed to provide financial support to enable the company to meet its obligations as and when they fall due for a minimum period of 18 months from the date of signing the financial statements.Therefore, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors considers to continue to adopt the going concern basis in preparing its financial statements.

Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, 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:

Plants and machinery - 20% on cost

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.

Investment properties
Investment property is carried at fair value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, and loans from group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Share capital
Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

The company's ordinary shares are classified as equity instruments.


China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 3,451 7,994 11,445
DEPRECIATION
At 1 January 2023 3,451 7,730 11,181
Charge for year - 264 264
At 31 December 2023 3,451 7,994 11,445
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - 264 264

China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,606,000
NET BOOK VALUE
At 31 December 2023 1,606,000
At 31 December 2022 1,606,000

The fair value of the Company's investment property at 31 December 2023 has been arrived at on the basis of a valuation carried out at that date by the directors. The fair value was determined based on the market comparable approach that reflects recent transaction prices for similar properties.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 131,030
Valuation in 2020 (51,800 )
Cost 1,526,770
1,606,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1,872 7,313

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 2,889,306 2,752,083
Other creditors 28,651 92,256
2,917,957 2,844,339

Included in other creditors there was a director loan account balance of £22,531 (2022: £68,975).

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Other timing differences 19,873 15,054

China Harbour Engineering Company (UK)
Limited (Registered number: 09488380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 15,054
Provided during year 4,819
Balance at 31 December 2023 19,873

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

The Report of the Auditors was unqualified.

Nijendra Dhungana (Senior Statutory Auditor)
for and on behalf of Shinewing Wilson Accountancy Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. CONTROLLING PARTY

The immediate parent undertaking is China Harbour Engineering Company Limited, a company registered in P.R. China.

The largest group to consolidate these financial statements is China Communications Construction Limited, a company registered in P.R. China and copies of the consolidated financial statements can be obtained from the company website http://en.ccccltd.cn.

The ultimate parent undertaking is China Communications Construction Group, which is a wholly stated-owned company in the People's Republic of China.