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Registration number: 12094006

Herons Rest Properties Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Herons Rest Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Herons Rest Properties Ltd

Company Information

Directors

Linda Christine O'Rourke

Chloe Lesley O'Rourke

Registered office

1 Bridge House
Bridge Street
Staines-Upon-Thames
TW18 4TW

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Herons Rest Properties Ltd

(Registration number: 12094006)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

786

1,180

Tangible assets

6

2,590

4,716

 

3,376

5,896

Current assets

 

Debtors

7

20,605

5,733

Cash at bank and in hand

 

29,134

18,688

 

49,739

24,421

Creditors: Amounts falling due within one year

8

(20,940)

(25,397)

Net current assets/(liabilities)

 

28,799

(976)

Total assets less current liabilities

 

32,175

4,920

Creditors: Amounts falling due after more than one year

8

(25,613)

(28,963)

Net assets/(liabilities)

 

6,562

(24,043)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

6,560

(24,045)

Shareholders' funds/(deficit)

 

6,562

(24,043)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 January 2024 and signed on its behalf by:
 

.........................................
Linda Christine O'Rourke
Director

 

Herons Rest Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Bridge House
Bridge Street
Staines-Upon-Thames
TW18 4TW

These financial statements were authorised for issue by the Board on 11 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Herons Rest Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Furniture and fittings

25% Straight line

Plant & Machinery

25% Straight Line

Computer Equiment

25% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 0).

4

Profit/loss before tax

Arrived at after charging/(crediting)

 

Herons Rest Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

4

Profit before tax (continued)

2023
£

2022
£

Depreciation expense

2,612

2,491

Amortisation expense

393

393

 

Herons Rest Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2022

1,573

1,573

At 31 July 2023

1,573

1,573

Amortisation

At 1 August 2022

393

393

Amortisation charge

394

394

At 31 July 2023

787

787

Carrying amount

At 31 July 2023

786

786

At 31 July 2022

1,180

1,180

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

9,833

9,833

Additions

487

487

At 31 July 2023

10,320

10,320

Depreciation

At 1 August 2022

5,117

5,117

Charge for the year

2,613

2,613

At 31 July 2023

7,730

7,730

Carrying amount

At 31 July 2023

2,590

2,590

At 31 July 2022

4,716

4,716

 

Herons Rest Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

7

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

15,166

-

Prepayments

 

754

108

Other debtors

 

4,685

5,625

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

556

-

Accruals and deferred income

1,155

1,474

Other creditors

19,229

23,923

20,940

25,397

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

25,613

28,963