Company Registration No. 07109155 (England and Wales)
HERAX LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
HERAX LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HERAX LIMITED
Company Registration No. 07109155
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2022
Notes
£
£
£
£
Fixed assets
Investments
3
30,000
30,000
Current assets
Debtors
4
1,004
987
Cash at bank and in hand
181
42,753
1,185
43,740
Creditors: amounts falling due within one year
5
(2,931)
(2,850)
Net current (liabilities)/assets
(1,746)
40,890
Net assets
28,254
70,890
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
28,253
70,889
Total equity
28,254
70,890

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 31 August 2024 and are signed on its behalf by:
A MacPherson
A Reig-Schmidt
Director
Director
HERAX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Herax Limited is a private company limited by shares incorporated in England and Wales. The registered office is 86-87 Wimpole Street, London, W1G 9RL.

1.1
Accounting convention

The financial statements are prepared under the historical cost convention.

 

The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period
The accounts show a reporting period length of 15 months, from Januarry 2023 to March 2024.
1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

HERAX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2022
Number
Number
Total
2
2
3
Fixed asset investments
2024
2022
£
£
Other investments other than loans
30,000
30,000
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
622
604
Other debtors
382
383
1,004
987
5
Creditors: amounts falling due within one year
2024
2022
£
£
Taxation and social security
81
-
0
Other creditors
2,850
2,850
2,931
2,850
HERAX LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 4 -
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Related party transactions

A MacPherson and A Reig-Schmidt, directors of the company, are members of Herax Partners LLP. Herax Limited is also a corporate member of Herax Partners LLP.

 

During the year Herax Partners LLP paid expenses on behalf of Herax Limited of £Nil (2022 - £Nil). At the balance sheet date the company owed £2,850 (2022 - £2,850) to Herax Partners LLP.

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