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REGISTERED NUMBER: 04643817 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Herbert Direct Limited

Herbert Direct Limited (Registered number: 04643817)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Herbert Direct Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J M Herbert
S E Herbert





SECRETARY: S E Herbert





REGISTERED OFFICE: Unit 18 Lawson Hunt Industrial Estate
Guildford Road
Broadbridge Heath
Horsham
West Sussex
RH12 3JR





REGISTERED NUMBER: 04643817 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

Herbert Direct Limited (Registered number: 04643817)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,601 41,450

CURRENT ASSETS
Stocks 575,873 699,099
Debtors 5 157,501 297,719
Cash at bank 345,515 221,620
1,078,889 1,218,438
CREDITORS
Amounts falling due within one year 6 341,446 435,912
NET CURRENT ASSETS 737,443 782,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

776,044

823,976

CREDITORS
Amounts falling due after more than one
year

7

(13,334

)

(23,334

)

PROVISIONS FOR LIABILITIES 9 (9,651 ) (7,876 )
NET ASSETS 753,059 792,766

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 753,057 792,764
SHAREHOLDERS' FUNDS 753,059 792,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Herbert Direct Limited (Registered number: 04643817)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:




S E Herbert - Director



J M Herbert - Director


Herbert Direct Limited (Registered number: 04643817)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Herbert Direct 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is measured at fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Herbert Direct Limited (Registered number: 04643817)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 22,561 50,787 18,358 91,706
Additions 700 11,730 982 13,412
At 31 March 2024 23,261 62,517 19,340 105,118
DEPRECIATION
At 1 April 2023 20,700 17,686 11,870 50,256
Charge for year 1,128 12,028 3,105 16,261
At 31 March 2024 21,828 29,714 14,975 66,517
NET BOOK VALUE
At 31 March 2024 1,433 32,803 4,365 38,601
At 31 March 2023 1,861 33,101 6,488 41,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 148,261 283,192
Other debtors 9,240 14,527
157,501 297,719

Herbert Direct Limited (Registered number: 04643817)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,001 10,000
Trade creditors 106,392 176,143
Taxation and social security 88,161 119,331
Other creditors 136,892 130,438
341,446 435,912

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 13,334 23,334

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 86,479 85,848
Between one and five years 307,500 303,979
In more than five years 205,625 221,250
599,604 611,077

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 9,651 7,876

Deferred
tax
£   
Balance at 1 April 2023 7,876
Provided during year 1,775
Balance at 31 March 2024 9,651

10. OTHER FINANCIAL COMMITMENTS

At the year end a debenture was outstanding on the client by the Governor and Company of the Bank of Scotland. Fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings fixtures, fixed plant and machinery.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £130,483 (2023 - £123,876) to the directors. The amount is unsecured, repayable on demand and subject to interest which is charged on the amount owed at 10% per annum.

12. ULTIMATE CONTROLLING PARTY

The controlling party is the Directors.