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Registration number: 11677392

Herne Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Herne Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Herne Limited

Company Information

Directors

Mrs Alexa Catherine Magor

Mrs Antonia Grace Henley

Mr Edward Charles Magor

Mr Philip Magor ACA

Registered office

The Old Vicarage
Shepton Montague
Wincanton
Somerset
BA9 8JE

 

Herne Limited

(Registration number: 11677392)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

100

637

Cash at bank and in hand

 

2,642

9,500

 

2,742

10,137

Creditors: Amounts falling due within one year

5

(1,944)

(3,716)

Net assets

 

798

6,421

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

698

6,321

Shareholders' funds

 

798

6,421

For the financial year ending 31 March 2024 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 


Mr Philip Magor ACA
Director

 

Herne Limited

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

1

General information

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

The address of its registered office is:
The Old Vicarage
Shepton Montague
Wincanton
Somerset
BA9 8JE

These financial statements were authorised for issue by the Board on 13 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements to 31 March 2024 are prepared on a break up basis as the company has ceased to trade as of 31 March 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

 

Herne Limited

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

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 4 (2023 - 3).

 

Herne Limited

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

4

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

258

Amounts owed by group undertakings and undertakings in which the company has a participating interest

7

100

-

Other debtors

 

-

379

 

100

637

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,944

1,809

Other creditors

-

1,907

1,944

3,716

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Class 1 ordinary shares of £1 each

100

100

100

100

       
 

Herne Limited

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

7

Related party transactions

Summary of transactions with parent

At 31 March 2024, a balance of £100 (2023: £Nil) was owed from Rogam Farms Limited. No interest has been charged on this loan and is repayable on demand.
 

8

Parent and ultimate parent undertaking

The company's immediate parent is Rogam Farms Limited, incorporated in England & Wales.

 The ultimate parent is Rogam Ltd, incorporated in England & Wales.