H.C. Shipping & Chartering Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03443145 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

H.C. Shipping & Chartering Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P M Buffam

M Shakesheff

M D Sharp

J D Berry

REGISTERED OFFICE:

Tees Wharf

Dockside Road

Middlesbrough

TS3 6AH

REGISTERED NUMBER:

03443145 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

4

195,906

204,246

Investments

5

86

195,992

204,332

CURRENT ASSETS

Debtors

6

1,328,898

1,415,875

Cash at bank and in hand

129,139

191,875

1,458,037

1,607,750

CREDITORS

Amounts falling due within one year

7

189,458

274,107

NET CURRENT ASSETS

1,268,579

1,333,643

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,464,571

1,537,975

PROVISIONS FOR LIABILITIES

760

2,684

NET ASSETS

1,463,811

1,535,291

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

1,463,711

1,535,191

SHAREHOLDERS' FUNDS

1,463,811

1,535,291

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 25 September 2025 and were signed on its behalf by:

M D Sharp - Director

1.	STATUTORY INFORMATION

H.C. Shipping & Chartering 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Agency fees and commissions receivable are recognised when the services have been completed and the company has the right to receive the consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on revalued amount

Plant and machinery

-

33% on cost and 20% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses.

Freehold property was valued at £210,000 on 18/12/20 and from that date the company adopted the revaluation model for its freehold property. The valuation was undertaken by the Directors on an open market basis. In prior years the company had adopted the cost model for freehold property. The effect of this change is reflected in the Income Statement on page 6 and explained in note 4 to the financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/ payable

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

COST OR VALUATION

At 1 January 2024

214,285

46,356

260,641

Disposals

-

(26,439

)

(26,439

)

At 31 December 2024

214,285

19,917

234,202

DEPRECIATION

At 1 January 2024

17,137

39,258

56,395

Charge for year

4,284

4,056

8,340

Eliminated on disposal

-

(26,439

)

(26,439

)

At 31 December 2024

21,421

16,875

38,296

NET BOOK VALUE

At 31 December 2024

192,864

3,042

195,906

At 31 December 2023

197,148

7,098

204,246

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2020

(50,297

)

-

(50,297

)

Cost

264,582

19,917

284,499

214,285

19,917

234,202

If freehold property had not been revalued it would have been included at the following historical cost:

2024

2023

£

Cost

264,582

Aggregate depreciation

102,698

97,406

Freehold property was considered by the directors at the year end and the directors consider the valuation to be appropriate at the Balance Sheet date.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

86

NET BOOK VALUE

At 31 December 2024

86

At 31 December 2023

86

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

182,046

260,724

Amounts owed by group undertakings

1,135,900

1,149,285

Other debtors

112

-

VAT

2,016

1,408

Prepayments and accrued income

8,824

4,458

1,328,898

1,415,875

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

174,242

246,056

Taxation

-

17,350

Other creditors

469

3,369

Owed to related parties

988

-

Accrued expenses

13,759

7,332

189,458

274,107

8.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

100

Share capital 1

£1

100

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

The Report of the Auditors was unqualified.

David Shawcross FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

10.	CONTINGENT LIABILITIES

The company is party to a cross guarantee with its fellow subsidiaries, parent company and associated companies, Casper Shipping Holdings Limited, Casper Shipping Limited and Casper Defence Limited. At 31 December 2024, the aggregate bank loans and overdraft of companies within the agreement, was £900,000 (2023 - £900,000). The directors do not consider that any loss will arise in connection with this guarantee and consequently no amount is provided within these financial statements.

11.	PARENT UNDERTAKING

The immediate and ultimate parent company is Casper Chartering Limited. These financial statements are included in the consolidated financial statements of Casper Chartering Limited. The parent's registered office address is the same as H.C. Shipping & Chartering Limited as detailed on the Company Information page.