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Registrar

Registration number: 11115406

East Harbour Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

East Harbour Group Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 14

 

East Harbour Group Limited

Company Information

Directors

S M Howard

D K J Howard

D J Bowden

Registered office

20 Clough Road
Severalls Industrial Park
Colchester
Essex
C04 9QS

Bankers

HSBC bank PLC
Ipswich
12 Tavern Street
Ipswich
Suffolk
IP1 3AZ

Accountants

Lambert Chapman LLP
Chartered accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

East Harbour Group Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

S M Howard

D K J Howard

D J Bowden

Principal activity

The principal activity of the company is as agents involved in the sale of industrial chemicals, wholesale of chemical products and management consultancy activities.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 26 March 2025 and signed on its behalf by:

D K J Howard
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
East Harbour Group Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of East Harbour Group Limited for the year ended 31 December 2024 as set out on pages 4 to 14 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that East Harbour Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of East Harbour Group Limited. You consider that East Harbour Group 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 accounts of East Harbour Group 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 accounts.






Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

26 March 2025

 

East Harbour Group Limited

Profit and Loss Account for the Year Ended 31 December 2024

2024
£

2023
£

Turnover

5,816,565

3,815,665

Cost of sales

(4,298,170)

(2,609,211)

Gross profit

1,518,395

1,206,454

Administrative expenses

(505,732)

(351,314)

Operating profit

1,012,663

855,140

Other interest receivable and similar income

802

-

Interest payable and similar expenses

(45,327)

(21,944)

 

(44,525)

(21,944)

Profit before tax

968,138

833,196

Tax on profit

(230,709)

(200,208)

Profit for the financial year

737,429

632,988

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

East Harbour Group Limited

Statement of Comprehensive Income for the Year Ended 31 December 2024

2024
£

2023
£

Profit for the year

737,429

632,988

Total comprehensive income for the year

737,429

632,988

 

East Harbour Group Limited

(Registration number: 11115406)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

73,551

81,652

Investments

5

800,000

600,000

 

873,551

681,652

Current assets

 

Stocks

6

223,794

309,822

Debtors

7

571,978

546,125

Cash at bank and in hand

 

596,620

233,070

 

1,392,392

1,089,017

Creditors: Amounts falling due within one year

8

(567,091)

(557,484)

Net current assets

 

825,301

531,533

Total assets less current liabilities

 

1,698,852

1,213,185

Provisions for liabilities

(17,450)

(19,359)

Net assets

 

1,681,402

1,193,826

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

1,681,202

1,193,626

Shareholders' funds

 

1,681,402

1,193,826

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 

D K J Howard
Director

 

East Harbour Group Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

200

1,193,626

1,193,826

Profit for the year

-

737,429

737,429

Dividends

-

(249,853)

(249,853)

At 31 December 2024

200

1,681,202

1,681,402


 

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

200

960,638

960,838

Profit for the year

-

632,988

632,988

Dividends

-

(400,000)

(400,000)

At 31 December 2023

200

1,193,626

1,193,826


 

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 20 Clough Road, Severalls Industrial Park, Colchester, Essex, C04 9QS.

These financial statements were authorised for issue by the Board on 26 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of chemicals and provision of relevant consulting services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

50% Straight Line

Office Equipment

50% Straight Line

Motor Vehicles

25% Straight Line

Plant & Machinery

25% Straight Line

Fixtures & Fittings

25% Straight Line

Leasehold property

Straight line over term of lease

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Leasehold property
£

Fixtures and fittings
£

Office equipment
£

Plant and machinery
£

Motor vehicles
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2024

4,639

36,538

937

42,912

7,714

10,711

103,451

Additions

2,240

5,131

1,515

5,170

-

7,377

21,433

Disposals

-

-

-

-

-

(1,020)

(1,020)

At 31 December 2024

6,879

41,669

2,452

48,082

7,714

17,068

123,864

Depreciation

At 1 January 2024

425

4,853

302

7,224

3,276

5,720

21,800

Charge for the year

464

9,732

797

11,192

1,928

5,234

29,347

Eliminated on disposal

-

-

-

-

-

(834)

(834)

At 31 December 2024

889

14,585

1,099

18,416

5,204

10,120

50,313

Carrying amount

At 31 December 2024

5,990

27,084

1,353

29,666

2,510

6,948

73,551

At 31 December 2023

4,214

31,685

635

35,689

4,438

4,991

81,652

Included within the net book value of leasehold property above is £5,990 (2023 - £4,214) in respect of long leasehold land and buildings.
 

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

800,000

600,000

Subsidiaries

£

Cost or valuation

At 1 January 2024

600,000

Additions

200,000

At 31 December 2024

800,000

Provision

Carrying amount

At 31 December 2024

800,000

At 31 December 2023

600,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

East Harbour Property Limited

Ordinary B

100%

100%

6

Stocks

2024
£

2023
£

Inventories

223,794

309,822

7

Debtors

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Note

2024
£

2023
£

Trade debtors

 

437,895

476,361

Directors loan accounts

11

11,143

12,826

Prepayments

 

63,187

19,731

Other debtors

 

59,753

37,207

 

571,978

546,125

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

226,146

281,740

Taxation and social security

279,396

217,443

Accruals and deferred income

53,206

52,382

Other creditors

8,343

5,919

567,091

557,484

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Class A Ordinary shares of £1 each

100

100

100

100

Class B Ordinary shares of £1 each

100

100

100

100

200

200

200

200

 

East Harbour Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

78,124

87,479

Later than one year and not later than five years

221,563

245,687

Later than five years

166,500

220,500

466,187

553,666

The amount of non-cancellable operating lease payments recognised as an expense during the year was £87,479 (2023 - £75,545).

11

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

12,826

240,755

(242,438)

11,143

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

-

78,251

(65,425)

12,826