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REGISTERED NUMBER: SC592632 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

HERD ADVANCE HOLDINGS LIMITED

HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HERD ADVANCE HOLDINGS LIMITED

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Duncan
J Grant





REGISTERED OFFICE: Newton of Ardoyne
Oyne
Insch
Aberdeenshire
AB52 6RN





REGISTERED NUMBER: SC592632 (Scotland)






HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 379,737 231,855
Tangible assets 5 7,703 5,505
387,440 237,360

CURRENT ASSETS
Debtors 6 104,892 11,104
Cash at bank - 34,969
104,892 46,073
CREDITORS
Amounts falling due within one year 7 72,089 33,857
NET CURRENT ASSETS 32,803 12,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,243

249,576

CREDITORS
Amounts falling due after more than one
year

8

(88,239

)

(92,000

)

PROVISIONS FOR LIABILITIES (2,913 ) (2,913 )
NET ASSETS 329,091 154,663

CAPITAL AND RESERVES
Called up share capital 111 100
Share premium 119,989 -
Retained earnings 208,991 154,563
329,091 154,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Balance Sheet - continued
31 March 2023


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 26 February 2024 and were signed on its behalf by:





M Duncan - Director


HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Herd Advance Holdings Limited is a private company, limited by shares , registered in Scotland. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured as cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being carried at cost until completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2022 248,824
Additions 176,581
At 31 March 2023 425,405
AMORTISATION
At 1 April 2022 16,969
Amortisation for year 28,699
At 31 March 2023 45,668
NET BOOK VALUE
At 31 March 2023 379,737
At 31 March 2022 231,855

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 5,981 682 6,663
Additions - 4,738 4,738
At 31 March 2023 5,981 5,420 11,401
DEPRECIATION
At 1 April 2022 1,121 37 1,158
Charge for year 1,495 1,045 2,540
At 31 March 2023 2,616 1,082 3,698
NET BOOK VALUE
At 31 March 2023 3,365 4,338 7,703
At 31 March 2022 4,860 645 5,505

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 104,892 11,104

HERD ADVANCE HOLDINGS LIMITED (REGISTERED NUMBER: SC592632)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 49,420 5,000
Trade creditors 1,599 6,427
Taxation and social security 566 -
Other creditors 20,504 22,430
72,089 33,857

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 41,239 45,000
Other creditors 47,000 47,000
88,239 92,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 13,282 5,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.