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REGISTERED NUMBER: 06658352 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

HERONSTONE ENGINEERING LIMITED

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HERONSTONE ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: Mr SJ Watkins



SECRETARY:



REGISTERED OFFICE: Unit 5, Ynyscedwyn Industrial Estate
Ystradgynlais
Swansea
West Glamorgan
SA9 1DT



REGISTERED NUMBER: 06658352 (England and Wales)



ACCOUNTANT: Linghams Chartered Accountants
(Lingham Accountancy Limited)
(Part of the Waterfront Accountancy Group Limited)
7-8 Raleigh Walk
Waterfront 2000
Brigantine Place
Cardiff
South Glamorgan
CF10 4LN



SOLICITORS: Tim Jones
TG Jones & Associates
9 St James Crescent
Swansea
SA1 6DZ

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,072,804 766,705
Investments 5 170,000 170,000
1,242,804 936,705

CURRENT ASSETS
Stocks 87,000 85,500
Debtors 6 428,221 395,551
Cash at bank 199,812 403,258
715,033 884,309
CREDITORS
Amounts falling due within one year 7 209,535 278,608
NET CURRENT ASSETS 505,498 605,701
TOTAL ASSETS LESS CURRENT LIABILITIES 1,748,302 1,542,406

CREDITORS
Amounts falling due after more than one
year

8

607,720

450,683
NET ASSETS 1,140,582 1,091,723

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 1,139,382 1,090,523
SHAREHOLDERS' FUNDS 1,140,582 1,091,723

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

BALANCE SHEET - continued
31 JULY 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 director and authorised for issue on 13 March 2024 and were signed by:





Mr SJ Watkins - Director


HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Heronstone Engineering 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks 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.

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 29 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 1,529,537 5,190 12,142 31,011 1,577,880
Additions 575,360 358 - 4,789 580,507
Disposals (205,850 ) - - - (205,850 )
At 31 July 2023 1,899,047 5,548 12,142 35,800 1,952,537
DEPRECIATION
At 1 August 2022 782,411 2,379 10,901 15,484 811,175
Charge for year 206,104 634 310 3,383 210,431
Eliminated on disposal (141,873 ) - - - (141,873 )
At 31 July 2023 846,642 3,013 11,211 18,867 879,733
NET BOOK VALUE
At 31 July 2023 1,052,405 2,535 931 16,933 1,072,804
At 31 July 2022 747,126 2,811 1,241 15,527 766,705

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2022 527,200
Additions 519,800
At 31 July 2023 1,047,000
DEPRECIATION
At 1 August 2022 147,558
Charge for year 140,692
At 31 July 2023 288,250
NET BOOK VALUE
At 31 July 2023 758,750
At 31 July 2022 379,642

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 170,000
NET BOOK VALUE
At 31 July 2023 170,000
At 31 July 2022 170,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 225,350 192,824
Other debtors 202,871 202,727
428,221 395,551

HERONSTONE ENGINEERING LIMITED (REGISTERED NUMBER: 06658352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 117,517 119,657
Taxation and social security 85,689 152,843
Other creditors 6,329 6,108
209,535 278,608

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans 126,363 141,870
Hire purchase contracts 481,357 308,813
607,720 450,683

9. RELATED PARTY DISCLOSURES

Heronstone Engineering acquired 50% of the share capital of Heronstone Lodges Limited for £ 170,000 from the former director Mrs CEM Watkins who resigned on 18th September 2020. The remaining sole director Mr SJ Watkins also holds 50% of the share capital of Heronstone Lodges Limited.

At the year end, Heronstone Engineering Limited was owed £ 193,966 by Heronstone Lodges Limited (FY 2022 £ 193,966).

A management charge of £ nil has been charged to Heronstone Lodges Limited (FY 2022 £ nil)

The director SJ Watkins is a 100% shareholder of Orchid Villas Limited.
At the year end, Heronstone Engineering Limited was owed £ 6,026 by Orchid Villas Limited. (FY 2022 £ 6,026)