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Company Registration No. 02640282 (England and Wales)
Hermolis & Co Limited Unaudited accounts for the year ended 31 December 2023
Hermolis & Co Limited Unaudited accounts Contents
Page
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Hermolis & Co Limited Company Information for the year ended 31 December 2023
Directors
B Kreditor I M Kreditor M Lisser S R Lisser
Company Number
02640282 (England and Wales)
Registered Office
Churchill House 137-139 Brent Street London NW4 4DJ
Accountants
Clearfin Accountants Limited Churchill House 137-139 Brent Street London NW4 4DJ
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Hermolis & Co Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
77,730 
86,366 
Current assets
Inventories
444,810 
265,159 
Debtors
1,849,050 
2,683,134 
Cash at bank and in hand
348,218 
254,467 
2,642,078 
3,202,760 
Creditors: amounts falling due within one year
(1,688,819)
(2,328,324)
Net current assets
953,259 
874,436 
Total assets less current liabilities
1,030,989 
960,802 
Creditors: amounts falling due after more than one year
(14,167)
(24,167)
Provisions for liabilities
Deferred tax
(14,031)
(15,672)
Net assets
1,002,791 
920,963 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
992,791 
910,963 
Shareholders' funds
1,002,791 
920,963 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by
I M Kreditor Director Company Registration No. 02640282
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Hermolis & Co Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Hermolis & Co Limited is a private company, limited by shares, registered in England and Wales, registration number 02640282. The registered office is Churchill House, 137-139 Brent Street, London, NW4 4DJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Fixtures & fittings
10% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Hermolis & Co Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
572,230 
152,175 
724,405 
At 31 December 2023
572,230 
152,175 
724,405 
Depreciation
At 1 January 2023
499,447 
138,592 
638,039 
Charge for the year
7,278 
1,358 
8,636 
At 31 December 2023
506,725 
139,950 
646,675 
Net book value
At 31 December 2023
65,505 
12,225 
77,730 
At 31 December 2022
72,783 
13,583 
86,366 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
444,810 
265,159 
444,810 
265,159 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
50,734 
97,537 
Trade debtors
745,266 
1,567,918 
Other debtors
1,053,050 
1,017,679 
1,849,050 
2,683,134 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Trade creditors
1,387,386 
2,075,140 
Taxes and social security
99,290 
52,142 
Other creditors
3,397 
2,296 
Loans from directors
169,683 
169,683 
Accruals
19,063 
19,063 
1,688,819 
2,328,324 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,167 
24,167 
9
Transactions with related parties
Included within other creditors is an amount of £169,683 (2022: £169,683) due to the directors of the company.
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Hermolis & Co Limited Notes to the Accounts for the year ended 31 December 2023
10
Average number of employees
During the year the average number of employees was 100 (2022: 89).
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