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REGISTERED NUMBER: 08020834 (England and Wales)















Herbert Developments Limited

Financial Statements For The Year Ended 31 March 2022






Herbert Developments Limited (Registered number: 08020834)






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

Chartered Accountants' Report 7

Herbert Developments Limited

Company Information
For The Year Ended 31 March 2022







DIRECTORS: U M Herbert
N P B Herbert
A T B Herbert
E D Herbert





REGISTERED OFFICE: Mulberry House
57A Altwood Road
Maidenhead
Berkshire
SL6 4PN





REGISTERED NUMBER: 08020834 (England and Wales)

Herbert Developments Limited (Registered number: 08020834)

Balance Sheet
31 March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 323 403

CURRENT ASSETS
Inventories - 1,100,000
Debtors 5 1,176,154 33,768
Cash at bank 60,973 24,346
1,237,127 1,158,114
CREDITORS
Amounts falling due within one year 6 (31,532 ) (14,286 )
NET CURRENT ASSETS 1,205,595 1,143,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,205,918

1,144,231

CREDITORS
Amounts falling due after more than one
year

7

(1,198,102

)

(1,126,163

)

PROVISIONS FOR LIABILITIES 8 (61 ) (77 )
NET ASSETS 7,755 17,991

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 6,755 16,991
SHAREHOLDERS' FUNDS 7,755 17,991

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 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.

Herbert Developments Limited (Registered number: 08020834)

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 Board of Directors and authorised for issue on 2 September 2022 and were signed on its behalf by:





A T B Herbert - Director


Herbert Developments Limited (Registered number: 08020834)

Notes to the Financial Statements
For The Year Ended 31 March 2022

1. STATUTORY INFORMATION

Herbert Developments 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 presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue 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.
Plant and machinery - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 3 ) .

Herbert Developments Limited (Registered number: 08020834)

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 April 2021
and 31 March 2022 1,539
DEPRECIATION
At 1 April 2021 1,136
Charge for year 80
At 31 March 2022 1,216
NET BOOK VALUE
At 31 March 2022 323
At 31 March 2021 403

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 76,154 33,768
Other debtors 1,100,000 -
1,176,154 33,768

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 9 7
Social security and other taxes 11,707 3,735
VAT 11,716 3,543
Accrued expenses 8,100 7,001
31,532 14,286

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 659,200 230,000
Directors' loan accounts 538,902 896,163
1,198,102 1,126,163

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 61 77

Herbert Developments Limited (Registered number: 08020834)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2021 77
Credit to Income Statement during year (16 )
Balance at 31 March 2022 61

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 April 2021 16,991
Profit for the year 1,764
Dividends (12,000 )
At 31 March 2022 6,755

11. RELATED PARTY DISCLOSURES

Included in Other Creditors is a loan from Nick Herbert Limited, a company in which Mr NPB Herbert is a director and majority shareholder. The loan is non interest bearing and repayable on demand. The balance outstanding at 31 March 2022 was £240,000 (2021: £230,000). During the year Project Management fees totalling £72,000 (2021: £50,000) were paid to Nick Herbert Limited. During the year General Management fees totalling £10,000 (2021: £12,500) were charged to Nick Herbert Limited.

Included in Other Debtors is a loan to QH (London Colney) Limited, a company in which Mr NPB Herbert is a director and shareholder. The loan is non interest bearing and repayable on demand. The balance outstanding at 31 March 2022 was £1,100,000 (2021: £Nil). During the year General Management fees totalling £149,630 (2021: £102,830) were charged to QH (London Colney) Limited. The balance outstanding at the year end was £62,400 (2021: £33,768) and this is included in Trade Debtors.

During the year General Management fees totalling £11,461 (2021: £Nil) were charged to HBM Consultants LLP, a partnership in which Nick Herbert Limited is a partner. The balance outstanding at the year end was £13,753.58 (2021: £Nil) and this is included in Trade Debtors.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Herbert Developments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Herbert Developments Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Herbert Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Herbert Developments Limited and state those matters that we have agreed to state to the Board of Directors of Herbert Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Herbert Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Herbert Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Herbert Developments Limited. You consider that Herbert Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Herbert Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Streets Mark Carr
Century House
15-19 Dyke Road
Brighton
East Sussex
BN1 3FE


2 September 2022