Company registration number 04244658 (England and Wales)
MANN LINES MULTIMODAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Affinia
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
MANN LINES MULTIMODAL LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
MANN LINES MULTIMODAL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
108,594
28,680
Cash at bank and in hand
307,463
1,377,857
416,057
1,406,537
Creditors: amounts falling due within one year
5
(284,675)
(369,358)
Net current assets
131,382
1,037,179
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
7
131,381
1,037,178
Total equity
131,382
1,037,179

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 January 2026 and are signed on its behalf by:
Mr W A Binks
Director
Company registration number 04244658 (England and Wales)
MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Mann Lines Multimodal Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Naval House, Kings Quay Street, Harwich, Essex, England, CO12 3JJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional currency is Euros. This differs from the presentational currency which is GBP. The reason for the difference is that the primary economic operating environment of the entity is Europe.

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

The Company's parent undertaking M-Ship Limited included the Company in its consolidated financial statements. The consolidated financial statements of M-Ship Limited are prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (UK General Accepted Accounting Practice) and are available to the public and may be obtained from the Registrar of Companies (England & Wales).

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the accounting policies.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue for the foreseeable future.

However, we are aware that prior to the signing of these financial statements, the ultimate holding company of the group, BNX Holdings Limited, registered in Jersey, has been stuck off due to a prior administrative error. The directors are in the process of reinstating BNX Holdings Limited and are expecting the reinstatement to be successful.

The company has received a letter of support from BNX Holdings Limited along with fellow group companies covering a period of 12 months post signing of the company’s financial statements.

The directors believe this support from its group companies is sufficient in supporting the company in continuing to operate as a going concern for a period of 12 months post signing of the financial statements, however, until the reinstatement of BNX Holdings Limited is completed, this indicates that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.

1.3
Turnover

Revenue from shipping freight and ancillary income is recognised on a discharge date basis over the period of a voyage rotation at which point it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
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.

MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

1.6
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

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.

1.7
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.

1.8
Foreign exchange

Foreign currency transactions are translated into the functional currency using HMRC's monthly exchange rates.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the income statement except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in the income statement within 'other operating income' or 'other operating expense'.

1.9

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the lease term.

1.10

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

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 revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
19,402
11,138
Amounts owed by group undertakings
75,025
10,068
Other debtors
2,353
2,627
Prepayments and accrued income
11,814
4,847
108,594
28,680
MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
45,326
41,983
Amounts owed to group undertakings
62,255
112,828
Trade creditors
149,075
178,373
Accruals and deferred income
28,019
36,174
284,675
369,358

Bank overdrafts are secured by a floating charge over the assets of the company and a cross guarantee from the parent company and certain fellow subsidiaries.

6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
7
Reserves

Profit and loss account

This includes all current and prior period retained profits and losses.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss 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.

Senior Statutory Auditor:
Oliver White
Statutory Auditor:
Affinia (Colchester)
Date of audit report:
21 January 2026
MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
9
Contingent Liabilities

There is a contingent liability in respect of guarantees given by the company, in common with fellow subsidiaries, to its banks for overdraft facilities granted to the ultimate parent company, M-Ship Limited, and its subsidiaries.

At the year end other companies had gross overdrafts amounting to £1,289,919 (202 3 - £9 63,541). The group has a right of set off between overdrafts and current account balances. At the year end other group companies had current account balances totalling £1,314,969 (202 3 - £1 51,594). As at the year end there was a net amount of £NIL (202 3: £NIL) owed to the bank.

10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
-
0
805,249

11
Events after the reporting date

There have been no significant events affecting the Company since the year end.

12
Related party transactions

As a wholly owned subsidiary of BNX Holdings Limited the company is exempt from the requirement of FRS102 to disclose transactions with the other wholly owned member of the group headed by BNX Holdings Limited.

Traminco Limited is a related party by virtue of common control. During the year Traminco Limited made charge for services and consultancy providing amounting to £111,709 (202 3: £115,208). At the year end the company owed £79,437 (202 3: £NIL) to Traminco Limited.

Mann Lines CJSC is a related party by virtue of common control.

During the year Mann Lines CJSC made charges for services provided amounting to £NIL (202 3: £NIL), additionally Mann Lines Multimodal made sales to Mann Lines CJSC amounting to £NIL (202 3: £NIL). At the year end the company owed £NIL (202 3: £NL) to Mann Lines CSJC.

13
Parent company
MANN LINES MULTIMODAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13
Parent company
(Continued)
- 7 -

The ultimate parent undertaking of this company in BNX Holdings Limited which is registered in Jersey. The company is included in the consolidated accounts of M-Ship Limited, Naval House, Kings Quay Street, Harwich, Essex, CO12 3JJ, the company's intermediate parent undertaking and controlling related party under the definition set out in FRS102 by virtue of its shareholding in the company. M-Ship Limited's accounts are available from the Registrar of Companies (England & Wales) Companies House, Crown Way, Cardiff, CF14 3UZ.

Mann Lines Limited, Naval House, Kings Quay Street, Harwich CO12 3JJ is the immediate parent of the company as a result of its shareholding.

The ultimate controlling related party of the company based on the definitions and requirements of FRS102 is considered to be AWS Binks as a result of his shareholding, his beneficial interests under a trust and position on the Board of Directors of the ultimate holding company.

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