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REGISTERED NUMBER: NI049176 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

M Herron Ltd

M Herron Ltd (Registered number: NI049176)

Contents of the Financial Statements
for the Year Ended 31 March 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M Herron Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mr M Herron





SECRETARY: Mrs E Herron





REGISTERED OFFICE: 2nd Floor, Corner House
64-66A Mainstreet
COALISLAND
Co. Tyrone
BT71 4NB





REGISTERED NUMBER: NI049176 (Northern Ireland)





ACCOUNTANTS: Gildernew & Co Ltd
Six Northland Row
DUNGANNON
Co. Tyrone
BT71 6AW

M Herron Ltd (Registered number: NI049176)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,313 72,720

CURRENT ASSETS
Debtors 5 152,983 32,680
Cash at bank 38,724 102,387
191,707 135,067
CREDITORS
Amounts falling due within one year 6 98,857 79,411
NET CURRENT ASSETS 92,850 55,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,163

128,376

CREDITORS
Amounts falling due after more than one
year

7

(32,314

)

(42,893

)

PROVISIONS FOR LIABILITIES (360 ) (274 )
NET ASSETS 130,489 85,209

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 130,488 85,208
130,489 85,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

M Herron Ltd (Registered number: NI049176)

Balance Sheet - continued
31 March 2022


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 director and authorised for issue on 11 August 2022 and were signed by:





Mr M Herron - Director


M Herron Ltd (Registered number: NI049176)

Notes to the Financial Statements
for the Year Ended 31 March 2022


1. STATUTORY INFORMATION

M Herron Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 20% on reducing balance and 15% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 3 ) .

M Herron Ltd (Registered number: NI049176)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements fittings equipment Totals
£    £    £    £   
COST
At 1 April 2021 71,483 86,888 6,434 164,805
Additions - - 1,472 1,472
At 31 March 2022 71,483 86,888 7,906 166,277
DEPRECIATION
At 1 April 2021 2,859 83,671 5,555 92,085
Charge for year 2,860 643 376 3,879
At 31 March 2022 5,719 84,314 5,931 95,964
NET BOOK VALUE
At 31 March 2022 65,764 2,574 1,975 70,313
At 31 March 2021 68,624 3,217 879 72,720

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 140,766 29,563
Other debtors - 1,802
Prepayments 12,217 1,315
152,983 32,680

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 9,687 7,108
Trade creditors 49,359 19,259
Tax 7,282 5,612
Social security and other taxes 634 1,131
VAT 5,535 13,763
Other creditors 140 327
Directors' loan accounts 19,833 25,824
Accruals and deferred income 6,387 6,387
98,857 79,411

M Herron Ltd (Registered number: NI049176)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 1-2 years 9,932 9,687
Bank loans - 2-5 years 22,382 33,206
32,314 42,893