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REGISTERED NUMBER: 00657656 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

THOMAS HENEAGE & CO. LIMITED

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)






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

Certified Accountants' Report 9

THOMAS HENEAGE & CO. LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTORS: T P W Heneage
L J Libson





SECRETARY: Ms G M Bailey





REGISTERED OFFICE: 42 Duke Street
St James's
London
SW1Y 6DJ





REGISTERED NUMBER: 00657656 (England and Wales)





ACCOUNTANTS: A W Associates
Regus, Building 2
Guildford Business Park Road
Guildford
Surrey
GU2 8XG

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 171,530 172,335

CURRENT ASSETS
Stocks 419,191 386,998
Debtors 5 52,855 55,372
Cash at bank and in hand 9,432 12,956
481,478 455,326
CREDITORS
Amounts falling due within one year 6 579,620 575,361
NET CURRENT LIABILITIES (98,142 ) (120,035 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,388

52,300

CREDITORS
Amounts falling due after more than
one year

7

(18,999

)

(28,333

)

PROVISIONS FOR LIABILITIES (22,594 ) (11,146 )
NET ASSETS 31,795 12,821

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

Balance Sheet - continued
31 July 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 37,789 37,789
Share premium 113,054 113,054
Revaluation reserve 9 76,145 82,236
Capital redemption reserve 108,850 108,850
Retained earnings (304,043 ) (329,108 )
SHAREHOLDERS' FUNDS 31,795 12,821

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 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.

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 31 July 2024 and were signed on its behalf by:





T P W Heneage - Director


THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

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

1. STATUTORY INFORMATION

Thomas Heneage & Co. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the sale of goods and services excluding Value Added Tax. Sales of books are recognised at the point of despatch and management fee income is recognised when the service has been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% on cost
Equipment & software - 20% on cost and 16.67% per annum of net book value
Fixtures and fittings - 20% on cost and 10% on cost
Library - not provided
Computer equipment - 33% on cost and 20% on cost

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

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.


THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

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

2. ACCOUNTING POLICIES - continued
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.

Library
No depreciation is charged against the valuation of the gems and cameo library, as the depreciation charge and accumulated depreciation are considered to be immaterial.
In accordance with Financial Reporting Standard No 102, an assessment of the valuation of the library is made annually by the directors and the gain or loss is included in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Equipment and
leasehold & software fittings
£    £    £   
COST OR VALUATION
At 1 August 2022 104,253 51,569 53,008
Additions - 680 -
At 31 July 2023 104,253 52,249 53,008
DEPRECIATION
At 1 August 2022 104,253 48,847 48,442
Charge for year - 423 737
At 31 July 2023 104,253 49,270 49,179
NET BOOK VALUE
At 31 July 2023 - 2,979 3,829
At 31 July 2022 - 2,722 4,566

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

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

4. TANGIBLE FIXED ASSETS - continued

Computer
Library equipment Totals
£    £    £   
COST OR VALUATION
At 1 August 2022 144,000 39,409 392,239
Additions - 654 1,334
At 31 July 2023 144,000 40,063 393,573
DEPRECIATION
At 1 August 2022 - 18,362 219,904
Charge for year - 979 2,139
At 31 July 2023 - 19,341 222,043
NET BOOK VALUE
At 31 July 2023 144,000 20,722 171,530
At 31 July 2022 144,000 21,047 172,335

Cost or valuation at 31 July 2023 is represented by:

Fixtures
Short Equipment and
leasehold & software fittings
£    £    £   

Cost 104,253 52,249 53,008
104,253 52,249 53,008

Computer
Library equipment Totals
£    £    £   
Valuation in 2021 144,000 - 144,000
Cost - 40,063 249,573
144,000 40,063 393,573

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,371 719
Other debtors 40,484 54,653
52,855 55,372

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 61,630 39,266
Trade creditors 58,906 125,314
Taxation and social security 1,945 1,571
Other creditors 457,139 409,210
579,620 575,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 18,999 28,333

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 51,610 29,071
Bank loans 29,019 38,528
80,629 67,599

THOMAS HENEAGE & CO. LIMITED (REGISTERED NUMBER: 00657656)

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

9. RESERVES
Revaluatio
reserve
£   
At 1 August 2022 82,236
Library revaluation (6,091 )

At 31 July 2023 76,145

10. RELATED PARTY DISCLOSURES

As at 31 July 2023 the company owed £184,867 (2022 £142,889) to T P W Heneage, a director and shareholder. This loan is interest free and repayable on demand.
As at 31 July 2023 the company owed £8,781 (2022 £4,600) to Art Library Limited, a company under common control. This loan is interest free and repayable on demand.

Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Thomas Heneage & Co. Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Thomas Heneage & Co. Limited for the year ended 31 July 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Thomas Heneage & Co. Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Thomas Heneage & Co. Limited and state those matters that we have agreed to state to the Board of Directors of Thomas Heneage & Co. Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thomas Heneage & Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Thomas Heneage & Co. Limited. You consider that Thomas Heneage & Co. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Thomas Heneage & Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






A W Associates
Regus, Building 2
Guildford Business Park Road
Guildford
Surrey
GU2 8XG



Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Thomas Heneage & Co. Limited

31 July 2024