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Registration number: 10904992

Herchenbach Limited

Financial Statements

for the Year Ended 31 December 2023

 

Herchenbach Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 5

 

Herchenbach Limited

(Registration number: 10904992)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

99

300

Current assets

 

Debtors

5

18,642

6,296

Cash at bank and in hand

 

39,960

36,061

 

58,602

42,357

Creditors: Amounts falling due within one year

6

(33,894)

(19,691)

Net current assets

 

24,708

22,666

Total assets less current liabilities

 

24,807

22,966

Provisions for liabilities

(25)

(57)

Net assets

 

24,782

22,909

Capital and reserves

 

Called up share capital

25,000

25,000

Retained earnings

(218)

(2,091)

Shareholders' funds

 

24,782

22,909

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 22 August 2024
 

.........................................
N Apostologlou
Director

   
     
 

Herchenbach Limited

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

1

General information

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

The address of its registered office is:
C/o Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
England

These financial statements were authorised for issue by the director on 22 August 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 and in accordance with applicable accounting standards.

The financial statements are prepared in sterling which is the functional currency of the entity.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 August 2024 was Jonathan Mather BA ACA, who signed for and on behalf of Beever and Struthers.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires the directors to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The areas of judgement and estimates applied by the directors are not considered sufficiently significant to require disclosure in these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

Herchenbach Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Computer equipment

33.33% straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).

 

Herchenbach Limited

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

4

Tangible assets

Computer equipment
 £

Total
£

Cost or valuation

At 1 January 2023

4,548

4,548

At 31 December 2023

4,548

4,548

Depreciation

At 1 January 2023

4,248

4,248

Charge for the year

201

201

At 31 December 2023

4,449

4,449

Carrying amount

At 31 December 2023

99

99

At 31 December 2022

300

300

5

Debtors

2023
£

2022
£

Trade debtors

12,500

-

Prepayments

5,793

5,741

Other debtors

349

555

18,642

6,296

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

362

4,823

Taxation and social security

9,034

3,899

Accruals and deferred income

24,498

10,969

33,894

19,691

 

Herchenbach Limited

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

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the balance sheet is £19,746 (2022 - £15,088) .

8

Related party transactions

The company has taken advantage of FRS102 Section 1A 'Related party disclosure' as the company is a 100% subsidiary of Herchenbach Industrie-Zeltebau GmbH.

9

Parent and ultimate parent undertaking

The company's immediate parent is Herchenbach Industrie-Zeltebau GmbH, incorporated and operating in Germany.

 The ultimate parent is Innovative Building Technology GmbH.