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COMPANY REGISTRATION NUMBER: 09283684
HERONSLEA (CAMLET) LIMITED
Filleted Unaudited Financial Statements
31 October 2022
HERONSLEA (CAMLET) LIMITED
Statement of Financial Position
31 October 2022
2022
2021
Note
£
£
Current assets
Stocks
9,720,000
11,875,000
Debtors
5
353,512
270,823
Cash at bank and in hand
187
4,260
-------------
-------------
10,073,699
12,150,083
Creditors: amounts falling due within one year
6
475,518
712,486
-------------
-------------
Net current assets
9,598,181
11,437,597
------------
-------------
Total assets less current liabilities
9,598,181
11,437,597
Creditors: amounts falling due after more than one year
7
11,468,940
12,882,740
-------------
-------------
Net liabilities
( 1,870,759)
( 1,445,143)
-------------
-------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,870,859)
( 1,445,243)
------------
------------
Shareholders deficit
( 1,870,759)
( 1,445,143)
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 October 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 year 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 .
HERONSLEA (CAMLET) LIMITED
Statement of Financial Position (continued)
31 October 2022
These financial statements were approved by the board of directors and authorised for issue on 13 October 2023 , and are signed on behalf of the board by:
Mr. Jason Marc Rishover
Director
Company registration number: 09283684
HERONSLEA (CAMLET) LIMITED
Notes to the Financial Statements
Year ended 31 October 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 Psb Accountants Ltd, Jubilee House, Townsend Lane,, Kingsbury, 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25 % straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 2 ).
5. Debtors
2022
2021
£
£
Trade debtors
5,312
4,433
Amounts owed by group undertakings and undertakings in which the company has a participating interest
344,131
265,829
Other debtors
4,069
561
---------
---------
353,512
270,823
---------
---------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
10,000
Trade creditors
10,100
111,357
Amounts owed to group undertakings and undertakings in which the company has a participating interest
193,187
137,750
Social security and other taxes
9,047
6,620
Other creditors
253,184
456,759
---------
---------
475,518
712,486
---------
---------
7. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
6,606,357
8,490,257
Rishco Loan
4,305,707
3,896,607
Other creditors
556,876
495,876
-------------
-------------
11,468,940
12,882,740
-------------
-------------
8. Related party transactions
At 31 October 2021 the sum of £556,876 (2021 - £495,876) was due to J.Rishover a director of the company. In following companies J. Rishover is a director and has a controlling interest. Heronslea (Camlet) Limited owed from
2022 2021
£ £
Heronslea Limited 80,042 41,000
Heronslea (Grenville Place) Limited 102,949 102,949
Rishco Leisure Ltd 8,000
Its All Good Marketing Limited 76,960 33,700
Linconsfield (Bushey 4) Limited 23,000 19,000
Heronslea (Arkley) Limited 2,500
Heronslea (Camlet) Limited owed to
2022 2021
£ £
Heronslea (Elstree) Limited 6,350 3,000
Heronslea (Watford Road) Limited 152,337 134,750
Rishco Leisure Limited 12,000
Rishco (Freeholds) Limited 1,500
Heronslea (Wayside) Limited 5,000
Heronslea (Hampstead) Limited 16,000
Following is the loan owed to Rischo Limited, repayable after more than one year and are interest free.
2022 2021
£ £
Rishco Limited 4,305,707 3,896,607