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COMPANY REGISTRATION NUMBER: 13583071
HERONSLEA LBL LIMITED
Filleted Unaudited Financial Statements
31 August 2022
HERONSLEA LBL LIMITED
Statement of Financial Position
31 August 2022
31 Aug 22
Note
£
Current assets
Stocks
2,198,460
Debtors
4
22,844
Cash at bank and in hand
11
------------
2,221,315
Creditors: amounts falling due within one year
5
2,225,922
------------
Net current liabilities
4,607
-------
Total assets less current liabilities
( 4,607)
-------
Net liabilities
( 4,607)
-------
Capital and reserves
Called up share capital
100
Profit and loss account
( 4,707)
-------
Shareholders deficit
( 4,607)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:
Mr Jason Marc Rishover
Director
Company registration number: 13583071
HERONSLEA LBL LIMITED
Notes to the Financial Statements
Period from 24 August 2021 to 31 August 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee house, Townsend Lane, Kingbsury, London, NW9 8TZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
31 Aug 22
£
Other debtors
22,844
--------
5. Creditors: amounts falling due within one year
31 Aug 22
£
Bank loans and overdrafts
1,389,303
Trade creditors
104,969
Other creditors
731,650
------------
2,225,922
------------
6. Related party transactions
At year end, the company was owed £10 (2021: NIL) by Heronslea (Langdon) Ltd, £21,796 (2021: NIL) by Heronslea Ltd and £10 (2021: NIL) by JJJ Freeholds Ltd. At year end, the company owed £15 (2021: NIL) to Rishco (Freeholds) Ltd, £62,600 (2021: NIL) to Heronslea (Wayside) Ltd, £104,927 (2021: NIL) to Herosnlea (Bushey 3) Ltd, £1,000 (2021: NIL) to Rishco Leisure and £25,156 (2021: NIL) to Rishco Ltd. The above companies are companies in which J M Rishover is a director.
7. Controlling party
At the balance sheet date, the immediate and ultimate parent company is Rishco Limited