| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| HOEGH NORTHERN TERMINAL LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| HOEGH NORTHERN TERMINAL LIMITED |
| HOEGH NORTHERN TERMINAL LIMITED (REGISTERED NUMBER: 06844985) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HOEGH NORTHERN TERMINAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 4th Floor |
| Charles House |
| 108-110 Finchley Road |
| London |
| NW3 5JJ |
| HOEGH NORTHERN TERMINAL LIMITED (REGISTERED NUMBER: 06844985) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HOEGH NORTHERN TERMINAL LIMITED (REGISTERED NUMBER: 06844985) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Hoegh Northern Terminal Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£) and rounded to the nearest £. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| 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. |
| HOEGH NORTHERN TERMINAL LIMITED (REGISTERED NUMBER: 06844985) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Cash and cash equivalents |
| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
| Going concern |
| The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. |
| At the balance sheet date, the company's liabilities exceeded its assets by £50,634 and it reported a loss of £5,869. In the opinion of the directors the company has the support of its creditors and financiers for the foreseeable future, and it is therefore considered appropriate to adopt the going concern policy. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | and |
| leasehold | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| Other loans are from the shareholders equally, they are unsecured, interest free and repayable only by mutual agreement of all the parties. |
| 6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Auditors' Report was unqualified. |
| for and on behalf of |
| HOEGH NORTHERN TERMINAL LIMITED (REGISTERED NUMBER: 06844985) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 7. | RELATED PARTY DISCLOSURES |
| Included within creditors due within one year is an amount of £64,349 (2023: £64,349) owed to group undertakings. |
| Amounts outstanding by group companies and associates arise by virtue of day to day trade. |
| 8. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
| Hoegh Northern Terminal Limited is 50% owned by N.S.A. U.K. Limited and 50% owned by Hoegh Autoliners AS, a company registered in Norway, and whose accounts are available for inspection at Drammensveien 134, Oslo, 0277, Norway. N.S.A. U.K. Limited is an 85% owned subsidiary of Nissan Motor Car Carrier Co, a company registered in Japan. The ultimate parent company is Mitsui O.S.K. Lines Ltd, a company registered in Japan, and whose accounts are available for inspection at 1-1 Toranomon 2-Chome, Minato-ku, Tokyo 105-8688, Japan. |
| 9. | SHAREHOLDERS' FUNDS |
| Included within retained earnings are amounts which are distributable and non-distributable to the shareholders. These are -£1,750,634 (2023: -£1,744,765) and £nil (2023: £nil) respectively. |