Silverfin false 30/04/2023 01/05/2022 30/04/2023 P O Hershkowitz R M Hershkowitz 03 November 2023 The principal activity of the company during the year was as a dealer in fine photographs and prints and works of art. 01293454 2023-04-30 01293454 2022-04-30 01293454 core:CurrentFinancialInstruments 2023-04-30 01293454 core:CurrentFinancialInstruments 2022-04-30 01293454 core:ShareCapital 2023-04-30 01293454 core:ShareCapital 2022-04-30 01293454 core:RetainedEarningsAccumulatedLosses 2023-04-30 01293454 core:RetainedEarningsAccumulatedLosses 2022-04-30 01293454 core:LandBuildings 2022-04-30 01293454 core:OfficeEquipment 2022-04-30 01293454 core:LandBuildings 2023-04-30 01293454 core:OfficeEquipment 2023-04-30 01293454 bus:OrdinaryShareClass1 2023-04-30 01293454 2022-05-01 2023-04-30 01293454 bus:FullAccounts 2022-05-01 2023-04-30 01293454 bus:SmallEntities 2022-05-01 2023-04-30 01293454 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 01293454 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 01293454 bus:Director1 2022-05-01 2023-04-30 01293454 bus:Director2 2022-05-01 2023-04-30 01293454 core:OfficeEquipment 2022-05-01 2023-04-30 01293454 2021-05-01 2022-04-30 01293454 core:LandBuildings 2022-05-01 2023-04-30 01293454 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 01293454 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01293454 (England and Wales)

ROBERT HERSHKOWITZ LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

ROBERT HERSHKOWITZ LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

ROBERT HERSHKOWITZ LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
ROBERT HERSHKOWITZ LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 149,508 149,792
149,508 149,792
Current assets
Stocks 4 2,597,000 2,563,800
Debtors 5 3,527 17,242
Cash at bank and in hand 6 731,994 759,936
3,332,521 3,340,978
Creditors: amounts falling due within one year 7 ( 535,652) ( 602,348)
Net current assets 2,796,869 2,738,630
Total assets less current liabilities 2,946,377 2,888,422
Net assets 2,946,377 2,888,422
Capital and reserves
Called-up share capital 8 50,000 50,000
Profit and loss account 2,896,377 2,838,422
Total shareholders' funds 2,946,377 2,888,422

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Robert Hershkowitz Limited (registered number: 01293454) were approved and authorised for issue by the Director. They were signed on its behalf by:

P O Hershkowitz
Director

03 November 2023

ROBERT HERSHKOWITZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
ROBERT HERSHKOWITZ LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Robert Hershkowitz Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 May 2022 189,320 28,500 217,820
At 30 April 2023 189,320 28,500 217,820
Accumulated depreciation
At 01 May 2022 40,002 28,026 68,028
Charge for the financial year 189 95 284
At 30 April 2023 40,191 28,121 68,312
Net book value
At 30 April 2023 149,129 379 149,508
At 30 April 2022 149,318 474 149,792

4. Stocks

2023 2022
£ £
Stocks 2,597,000 2,563,800

5. Debtors

2023 2022
£ £
Corporation tax 0 11,956
Other debtors 3,527 5,286
3,527 17,242

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 731,994 759,936

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 4,335 0
Other creditors 531,317 602,348
535,652 602,348

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each 50,000 50,000

9. Related party transactions

Included within other creditors is a balance of £513,704 (2022 : £582,102) owed to the directors of the company. This balance is unsecured and interest free, with no fixed repayment terms.