REGISTERED NUMBER: SC202822 (Scotland)

Financial Statements for the Year Ended 31 December 2024

for

Harbour Haulage Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Simpson

N Stephen

REGISTERED OFFICE:

37 Albyn Place

Aberdeen

Aberdeenshire

AB10 1YN

REGISTERED NUMBER:

SC202822 (Scotland)

ACCOUNTANTS:

Tawse & Partners

Chartered Accountants

18 North Silver Street

Aberdeen

AB10 1JU

FIXED ASSETS

Tangible assets

4

721,913

715,305

CURRENT ASSETS

Stocks

10,600

13,700

Debtors

5

197,110

237,433

Cash at bank

313,410

132,763

521,120

383,896

CREDITORS

Amounts falling due within one year

6

167,812

104,246

NET CURRENT ASSETS

353,308

279,650

TOTAL ASSETS LESS CURRENT LIABILITIES

1,075,221

994,955

PROVISIONS FOR LIABILITIES

123,303

90,696

NET ASSETS

951,918

904,259

CAPITAL AND RESERVES

Called up share capital

10,001

10,001

Share premium

179,941

179,941

Revaluation reserve

8

197,627

197,627

Retained earnings

564,349

516,690

951,918

904,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

R Simpson - Director

1.	STATUTORY INFORMATION

Harbour Haulage Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Accounting convention

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" (FRS102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 25 years straight line

Plant and equipment 10% and 33% reducing balance

Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

275,000

821,083

1,096,083

Additions

-

138,851

138,851

Disposals

-

(1,900

)

(1,900

)

At 31 December 2024

275,000

958,034

1,233,034

DEPRECIATION

At 1 January 2024

37,040

343,738

380,778

Charge for year

9,260

122,198

131,458

Eliminated on disposal

-

(1,115

)

(1,115

)

At 31 December 2024

46,300

464,821

511,121

NET BOOK VALUE

At 31 December 2024

228,700

493,213

721,913

At 31 December 2023

237,960

477,345

715,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

162,554

204,819

Other debtors

34,556

32,614

197,110

237,433

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

65,623

80,398

Taxation and social security

80,836

20,437

Other creditors

21,353

3,411

167,812

104,246

7.	SECURED DEBTS

The Bank of Scotland holds a Bond and Floating charge over the whole of the assets of the company.

8.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

197,627