IRIS Accounts Production v24.2.0.383 12526692 Board of Directors 30.6.24 1.7.23 30.6.24 30.6.24 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. a non trading company. true true false true true false false false true false Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125266922023-06-30125266922024-06-30125266922023-07-012024-06-30125266922022-06-30125266922022-07-012023-06-30125266922023-06-3012526692ns15:EnglandWales2023-07-012024-06-3012526692ns14:PoundSterling2023-07-012024-06-3012526692ns10:Director12023-07-012024-06-3012526692ns10:Consolidated2024-06-3012526692ns10:ConsolidatedGroupCompanyAccounts2023-07-012024-06-3012526692ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3012526692ns10:Consolidatedns10:MediumEntities2023-07-012024-06-3012526692ns10:Consolidatedns10:Audited2023-07-012024-06-3012526692ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3012526692ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3012526692ns10:Consolidated2023-07-012024-06-3012526692ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3012526692ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3012526692ns10:FullAccounts2023-07-012024-06-301252669212023-07-012024-06-3012526692ns10:OrdinaryShareClass12023-07-012024-06-3012526692ns10:OrdinaryShareClass22023-07-012024-06-3012526692ns10:Director22023-07-012024-06-3012526692ns10:RegisteredOffice2023-07-012024-06-3012526692ns10:Consolidated2022-07-012023-06-3012526692ns5:CurrentFinancialInstruments2024-06-3012526692ns5:CurrentFinancialInstruments2023-06-3012526692ns5:ShareCapital2024-06-3012526692ns5:ShareCapital2023-06-3012526692ns5:RetainedEarningsAccumulatedLosses2024-06-3012526692ns5:RetainedEarningsAccumulatedLosses2023-06-3012526692ns5:ShareCapital2022-06-3012526692ns5:RetainedEarningsAccumulatedLosses2022-06-3012526692ns5:NetGoodwill2023-07-012024-06-3012526692ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3012526692ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-07-012024-06-3012526692ns5:PlantMachinery2023-07-012024-06-3012526692ns5:FurnitureFittings2023-07-012024-06-3012526692ns5:MotorVehicles2023-07-012024-06-3012526692ns5:ComputerEquipment2023-07-012024-06-3012526692ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-06-3012526692ns5:UnlistedNon-exchangeTraded2024-06-3012526692ns5:UnlistedNon-exchangeTraded2023-06-3012526692ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3012526692ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3012526692ns10:OrdinaryShareClass12024-06-3012526692ns10:OrdinaryShareClass22024-06-3012526692ns5:RetainedEarningsAccumulatedLosses2023-06-3012526692ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30
REGISTERED NUMBER: 12526692 (England and Wales)















GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

HOSHIP GROUP (HOLDINGS) LIMITED

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Statement of Financial Position 11

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Statement of Cash Flows 15

Notes to the Consolidated Statement of Cash Flows 16

Notes to the Consolidated Financial Statements 17


HOSHIP GROUP (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S R Howard
P R Howard





REGISTERED OFFICE: C/o Howard Shipping Services Limited
Showell Road
Wolverhampton
United Kingdom
WV10 9JY





REGISTERED NUMBER: 12526692 (England and Wales)





AUDITORS: Crombies Accountants Limited
Chartered Accountants and Statutory Auditor
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS
The company acts as the parent of Howard Shipping Services Limited, Showell Packing Limited and Magyar Properties Limited, and the consolidated group accounts include the results and assets of all companies.

The company's income comprises income from freight forwarding, export packing and pallet / case making, and income received from rental of commercial property and warehousing space. The principal activities of the group are:

" Howard Shipping Services Limited - International carriers, freight forwarders and warehousing
" Showell Packing Limited - Export packers, case and pallet makers
" Magyar Properties Limited - Leasing and management of commercial properties

The principal activities of the above are carried out through Hoship Group (Holdings) Limited. The group accounts reflect pre-tax profits of £1,392,400.

The business review of the directors contained in the financial statements of Hoship Group (Holdings) Limited is as follows:

We aim to present a fair review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non complex nature of our business, and is written in the context of the risks and uncertainties we face.

The Company enjoyed a profitable year despite reduced demand as the economy continued it its post Covid transition. New business wins coupled with the development of existing contracts contributed to a positive end to the year for both Howard Shipping Services Ltd & Showell Packing Ltd.

Magyar Properties Ltd has continued to invest in the refurbishment & development of its assets along with making significant property acquisitions in order to support growth in the HOSHIP Group as a whole.

Turnover for 2024 - £9,714,236
Gross profit margin for 2024 - £3,162,783

Overheads have been well controlled.

The balance sheet continues to present a very solid position, with net assets of £13,699,381, and balances at the bank totalling £4,460,642.

The directors would like to thank all employees for their commitment and hard work over the last 12 months.

PRINCIPAL RISKS AND UNCERTAINTIES
The business environment in which the company operates continues to be very challenging and competitive pricing across the industry continues to put pressure on margins.

However, the company's reputation for delivering high quality products and services and meeting tight deadlines where necessary has provided a crucial edge over competitors.

Operationally, losses may be incurred as a result of inaccurate quoting, job / project delays, raw material delays or other unforeseen circumstances. Ensuring that jobs / contracts are completed on time and in line with budgeted costs remains a key focus of the group.

The longer term impacts of both Brexit and the COVID-19 pandemic remain unknown, and consequently future trading remains uncertain for all businesses. Restrictions on customers' capital expenditure budgets may lead to further changes in customer requirements for our goods and services.

FUTURE DEVELOPMENTS
Although trading conditions in the current climate remain challenging, the directors continue to investigate opportunities to grow the business and extend the range of products and services offered.


HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

SECTION 172 STATEMENT
This section of the financial statements includes the Directors considerations and activities in discharging their duties under s172(1) of the Companies Act 2006, in promoting the success of the Company for the benefit of members as a whole.

Along with the information provided in the Strategic Report, the reports include considerations of the likely consequences of the decisions of the Directors in the longer term and how the Directors have taken wider stakeholders needs into account.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHER RELATIONSHIPS
Delivering our strategy requires strong mutually beneficial relationships with suppliers, customers and other operational partners. Hoship Group (Holdings) Ltd seeks the promotion and application of certain general principles in such relationships. The ability to promote these principles effectively is an important factor in the decision to enter into or remain in such relationships.

The business continuously assesses the priorities related to customers and those with whom we do business, and the Directors engage with the businesses on these topics.

Moreover, the Directors receive information updates on a variety of topics that indicate and inform how these stakeholders have been engaged and are performing with and on behalf of the Company.

ON BEHALF OF THE BOARD:





Director


25 March 2025

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 592,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

S R Howard
P R Howard

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Crombies Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P R Howard - Director


25 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HOSHIP GROUP (HOLDINGS) LIMITED

Opinion
We have audited the financial statements of Hoship Group (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HOSHIP GROUP (HOLDINGS) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HOSHIP GROUP (HOLDINGS) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013) and health and safety legislation;

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
-performed analytical procedures to identify any unusual or unexpected relationships;
-tested journal entries to identify unusual transactions;
-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-agreeing financial statement disclosures to underlying supporting documentation;
-enquiring of management as to actual and potential litigation and claims; and
-reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
HOSHIP GROUP (HOLDINGS) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Fletcher BSc ACA (Senior Statutory Auditor)
for and on behalf of Crombies Accountants Limited
Chartered Accountants and Statutory Auditor
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

25 March 2025

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 9,714,236 20,374,308

Cost of sales 6,551,453 12,807,017
GROSS PROFIT 3,162,783 7,567,291

Distribution costs 27,480 16,004
Administrative expenses 1,829,255 1,990,536
1,856,735 2,006,540
OPERATING PROFIT 5 1,306,048 5,560,751

Interest receivable and similar income 133,102 1,839
1,439,150 5,562,590

Interest payable and similar expenses 7 46,750 27,281
PROFIT BEFORE TAXATION 1,392,400 5,535,309

Tax on profit 8 564,979 1,086,518
PROFIT FOR THE FINANCIAL YEAR 827,421 4,448,791
Profit attributable to:
Owners of the parent 827,421 4,448,791

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 827,421 4,448,791


OTHER COMPREHENSIVE INCOME
Revaluation Gain 133,852 578,686
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

133,852

578,686
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

961,273

5,027,477

Total comprehensive income attributable to:
Owners of the parent 961,273 5,027,477

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 5,429,543 2,172,169
Investments 13 - -
Investment property 14 3,433,397 1,667,213
8,862,940 3,839,382

CURRENT ASSETS
Stocks 15 598,530 485,992
Debtors 16 2,382,313 3,005,645
Prepayments and accrued income 82,133 63,847
Cash at bank and in hand 4,460,642 9,236,674
7,523,618 12,792,158
CREDITORS
Amounts falling due within one year 17 2,175,378 2,959,446
NET CURRENT ASSETS 5,348,240 9,832,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,211,180

13,672,094

CREDITORS
Amounts falling due after more than one
year

18

(333,664

)

(341,986

)

PROVISIONS FOR LIABILITIES 22 (178,135 ) -
NET ASSETS 13,699,381 13,330,108

CAPITAL AND RESERVES
Called up share capital 23 1,090 1,090
Revaluation reserve 24 578,686 578,686
Fair value reserve 24 133,852 -
Retained earnings 24 12,985,753 12,750,332
SHAREHOLDERS' FUNDS 13,699,381 13,330,108

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





P R Howard - Director


HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

COMPANY STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 2,188 2,188
Investment property 14 - -
2,188 2,188

CURRENT ASSETS
Debtors 16 2 2
Cash at bank 99,999 99,999
100,001 100,001
CREDITORS
Amounts falling due within one year 17 101,100 101,100
NET CURRENT LIABILITIES (1,099 ) (1,099 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,089

1,089

CAPITAL AND RESERVES
Called up share capital 23 1,090 1,090
Retained earnings 24 (1 ) (1 )
SHAREHOLDERS' FUNDS 1,089 1,089

Company's profit for the financial year - -

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





P R Howard - Director


HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up Fair
share Retained Revaluation value Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 July 2022 1,090 8,806,541 - - 8,807,631

Changes in equity
Dividends - (505,000 ) - - (505,000 )
Total comprehensive income - 4,448,791 578,686 - 5,027,477
Balance at 30 June 2023 1,090 12,750,332 578,686 - 13,330,108

Changes in equity
Dividends - (592,000 ) - - (592,000 )
Total comprehensive income - 827,421 - 133,852 961,273
Balance at 30 June 2024 1,090 12,985,753 578,686 133,852 13,699,381

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1,090 (1 ) 1,089

Changes in equity
Balance at 30 June 2023 1,090 (1 ) 1,089

Changes in equity
Balance at 30 June 2024 1,090 (1 ) 1,089

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,817,101 6,391,063
Interest paid (20,382 ) (11,374 )
Interest element of hire purchase payments
paid

(26,368

)

(15,907

)
Tax paid (890,391 ) (1,088,920 )
Net cash from operating activities 879,960 5,274,862

Cash flows from investing activities
Purchase of tangible fixed assets (3,426,115 ) (491,315 )
Purchase of investment property (1,632,332 ) (1,328,587 )
Sale of tangible fixed assets 17,000 153,434
Interest received 133,102 1,839
Net cash from investing activities (4,908,345 ) (1,664,629 )

Cash flows from financing activities
Loan repayments in year (160,423 ) (159,047 )
Capital repayments in year (5,007 ) 118,007
Amount withdrawn by directors 9,783 (16,303 )
Equity dividends paid (592,000 ) (505,000 )
Net cash from financing activities (747,647 ) (562,343 )

(Decrease)/increase in cash and cash equivalents (4,776,032 ) 3,047,890
Cash and cash equivalents at beginning of
year

2

9,236,674

6,188,784

Cash and cash equivalents at end of year 2 4,460,642 9,236,674

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 1,392,400 5,535,309
Depreciation charges 147,984 88,808
Loss on disposal of fixed assets 3,756 22,235
Finance costs 46,750 27,281
Finance income (133,102 ) (1,839 )
1,457,788 5,671,794
(Increase)/decrease in stocks (112,538 ) 254,176
Decrease in trade and other debtors 605,046 2,109,282
Decrease in trade and other creditors (133,195 ) (1,644,189 )
Cash generated from operations 1,817,101 6,391,063

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 4,460,642 9,236,674
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 9,236,674 6,188,784


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 9,236,674 (4,776,032 ) 4,460,642
9,236,674 (4,776,032 ) 4,460,642
Debt
Finance leases (390,403 ) 5,007 (385,396 )
Debts falling due within 1 year (160,424 ) 160,424 -
(550,827 ) 165,431 (385,396 )
Total 8,685,847 (4,610,601 ) 4,075,246

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Hoship Group (Holdings) 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 General 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" and the Companies Act 2006. 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.

Goodwill
In Showell Packing Limited, goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance and 10% on reducing balance
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Shipping 7,099,369 18,315,369
Case making and packing 2,551,426 2,022,939
Rental income 63,441 36,000
9,714,236 20,374,308

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 758,795 732,486
Social security costs 3,298 3,909
Other pension costs 77,967 67,776
840,060 804,171

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Direct employees 10 8
Admin employees 13 12
23 20

The average number of employees by undertakings that were proportionately consolidated during the year was 23 (2023 - 20 ) .

2024 2023
£    £   
Directors' remuneration 36,000 36,000

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery - 35
Other operating leases 1,933 3,867
Depreciation - owned assets 39,561 50,198
Depreciation - assets on hire purchase contracts 108,424 38,611
Loss on disposal of fixed assets 3,756 22,235
Foreign exchange differences 41,182 20,178

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

6,125

5,000

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan interest 1,747 3,124
Interest payable 18,635 8,250
Hire purchase 26,368 15,907
46,750 27,281

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 386,844 1,086,518

Deferred tax 178,135 -
Tax on profit 564,979 1,086,518

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,392,400 5,535,309
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20.942 %)

348,100

1,159,204

Effects of:
Expenses not deductible for tax purposes 17,411 26,654
Depreciation in excess of capital allowances 21,808 -
Profit taxed in prior period (475 ) -
Capital allowances - (99,340 )

Deferred tax 178,135 -
Total tax charge 564,979 1,086,518

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation Gain 133,852 - 133,852

2023
Gross Tax Net
£    £    £   
Revaluation Gain 578,686 - 578,686

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of £1 each
Interim 592,000 505,000

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 41,592
AMORTISATION
At 1 July 2023
and 30 June 2024 41,592
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 July 2023 1,538,388 350,622 15,166
Additions 3,368,780 1,294 -
Disposals - - -
At 30 June 2024 4,907,168 351,916 15,166
DEPRECIATION
At 1 July 2023 38,388 179,501 5,216
Charge for year 2,683 25,313 995
Eliminated on disposal - - -
At 30 June 2024 41,071 204,814 6,211
NET BOOK VALUE
At 30 June 2024 4,866,097 147,102 8,955
At 30 June 2023 1,500,000 171,121 9,950

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 672,921 95,731 2,672,828
Additions 51,080 4,961 3,426,115
Disposals (49,200 ) - (49,200 )
At 30 June 2024 674,801 100,692 6,049,743
DEPRECIATION
At 1 July 2023 216,936 60,618 500,659
Charge for year 114,986 4,008 147,985
Eliminated on disposal (28,444 ) - (28,444 )
At 30 June 2024 303,478 64,626 620,200
NET BOOK VALUE
At 30 June 2024 371,323 36,066 5,429,543
At 30 June 2023 455,985 35,113 2,172,169

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2023 578,686 - -
Cost 4,328,482 351,916 15,166
4,907,168 351,916 15,166

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2023 - - 578,686
Cost 674,801 100,692 5,471,057
674,801 100,692 6,049,743

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 July 2023 488,191
Additions 51,080
At 30 June 2024 539,271
DEPRECIATION
At 1 July 2023 79,210
Charge for year 108,424
At 30 June 2024 187,634
NET BOOK VALUE
At 30 June 2024 351,637
At 30 June 2023 408,981

13. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 2,188
NET BOOK VALUE
At 30 June 2024 2,188
At 30 June 2023 2,188

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Howard Shipping Services Limited
Registered office: Showell road, Wolverhampton, West Midlands, WV10 9JY
Nature of business: Shipping agents.
%
Class of shares: holding
Ordinary 100.00
Ordinary A 100.00

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

13. FIXED ASSET INVESTMENTS - continued

Showell Packing Limited
Registered office: Showell road, Wolverhampton, West Midlands, WV10 9JY
Nature of business: Case making and packing.
%
Class of shares: holding
Ordinary 100.00

Magyar Properties Limited
Registered office: Showell road, Wolverhampton, West Midlands, WV10 9JY
Nature of business: Property investment.
%
Class of shares: holding
Ordinary 100.00


All subsidiaries of the parent have been included within the consolidation of the group accounts.

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023 1,667,213
Additions 1,632,332
Revaluations 133,852
At 30 June 2024 3,433,397
NET BOOK VALUE
At 30 June 2024 3,433,397
At 30 June 2023 1,667,213

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 133,852
Cost 3,299,545
3,433,397

15. STOCKS

Group
2024 2023
£    £   
Stocks 598,530 485,992

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 2,382,311 2,980,900 - -
Other debtors 2 24,745 2 2
2,382,313 3,005,645 2 2

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Other loans (see note 19) - 160,424 - -
Hire purchase contracts (see note 20) 51,732 48,417 - -
Trade creditors 1,839,844 2,039,669 - -
Amounts owed to group undertakings - - 101,100 101,100
Tax 183,068 686,615 - -
Social security and other taxes 13,734 9,516 - -
VAT 67,987 6,037 - -
Other creditors 1,500 1,397 - -
Wages 919 (500 ) - -
Directors' current accounts 10,094 311 - -
Accrued expenses 6,500 7,560 - -
2,175,378 2,959,446 101,100 101,100

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 20) 333,664 341,986

19. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans - 160,424

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 51,732 48,417
Between one and five years 333,664 341,986
385,396 390,403

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Other loans - 160,424
Hire purchase contracts 385,396 390,403
385,396 550,827

The loan is secured over the freehold property included within fixed assets.

The hire purchase security is over the hire purchase vehicles held in fixed assets.

22. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 178,135 -

Group
Deferred
tax
£   
Provided during year 178,135
Balance at 30 June 2024 178,135

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
990 Ordinary £1 990 990
100 Ordinary A £1 100 100
1,090 1,090

HOSHIP GROUP (HOLDINGS) LIMITED (REGISTERED NUMBER: 12526692)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

24. RESERVES

Group
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 July 2023 12,750,332 578,686 - 13,329,018
Profit for the year 827,421 827,421
Dividends (592,000 ) (592,000 )
Revaluation - - 133,852 133,852
At 30 June 2024 12,985,753 578,686 133,852 13,698,291

Company
Retained
earnings
£   

At 1 July 2023 (1 )
Profit for the year -
At 30 June 2024 (1 )


25. PENSION COMMITMENTS

The group operates a defined contributions scheme whose assets are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company and amounted to £77,967 (2023 £67,776). There was no prepaid contribution at the balance sheet date.