Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 02478355 Mr Raoul Perfitt Mrs Vicki Borley Mrs Katharine Crew Mr Ian Bishop Herb U.K. (Holdings) Limited 610 Ampress Lane, Ampress Park, Lymington SO41 8LW true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02478355 2022-12-31 02478355 2023-12-31 02478355 2023-01-01 2023-12-31 02478355 frs-core:CurrentFinancialInstruments 2023-12-31 02478355 frs-core:Non-currentFinancialInstruments 2023-12-31 02478355 frs-core:BetweenOneFiveYears 2023-12-31 02478355 frs-core:ComputerEquipment 2023-12-31 02478355 frs-core:ComputerEquipment 2023-01-01 2023-12-31 02478355 frs-core:ComputerEquipment 2022-12-31 02478355 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 02478355 frs-core:FurnitureFittings 2023-12-31 02478355 frs-core:FurnitureFittings 2023-01-01 2023-12-31 02478355 frs-core:FurnitureFittings 2022-12-31 02478355 frs-core:NetGoodwill 2023-12-31 02478355 frs-core:NetGoodwill 2023-01-01 2023-12-31 02478355 frs-core:NetGoodwill 2022-12-31 02478355 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 02478355 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 02478355 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 02478355 frs-core:OtherResidualIntangibleAssets 2023-12-31 02478355 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 02478355 frs-core:OtherResidualIntangibleAssets 2022-12-31 02478355 frs-core:PlantMachinery 2023-12-31 02478355 frs-core:PlantMachinery 2023-01-01 2023-12-31 02478355 frs-core:PlantMachinery 2022-12-31 02478355 frs-core:WithinOneYear 2023-12-31 02478355 frs-core:CapitalRedemptionReserve 2023-12-31 02478355 frs-core:SharePremium 2023-12-31 02478355 frs-core:ShareCapital 2023-12-31 02478355 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02478355 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02478355 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 02478355 frs-bus:SmallEntities 2023-01-01 2023-12-31 02478355 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02478355 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02478355 1 2023-01-01 2023-12-31 02478355 frs-core:DeferredTaxation 2023-01-01 2023-12-31 02478355 frs-core:DeferredTaxation 2022-12-31 02478355 frs-core:DeferredTaxation 2023-12-31 02478355 frs-core:CostValuation 2022-12-31 02478355 frs-core:CostValuation 2023-12-31 02478355 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 02478355 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 02478355 frs-bus:Director1 2023-01-01 2023-12-31 02478355 frs-bus:Director2 2023-01-01 2023-12-31 02478355 frs-bus:Director3 2023-01-01 2023-12-31 02478355 frs-bus:Director4 2023-01-01 2023-12-31 02478355 frs-countries:EnglandWales 2023-01-01 2023-12-31 02478355 2021-12-31 02478355 2022-12-31 02478355 2022-01-01 2022-12-31 02478355 frs-core:CurrentFinancialInstruments 2022-12-31 02478355 frs-core:Non-currentFinancialInstruments 2022-12-31 02478355 frs-core:BetweenOneFiveYears 2022-12-31 02478355 frs-core:WithinOneYear 2022-12-31 02478355 frs-core:CapitalRedemptionReserve 2022-12-31 02478355 frs-core:SharePremium 2022-12-31 02478355 frs-core:ShareCapital 2022-12-31 02478355 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 02478355
Herb U.K. Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02478355
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 266,709 353,170
Tangible Assets 5 422,842 449,474
Investments 6 100 100
689,651 802,744
CURRENT ASSETS
Stocks 7 816,937 679,705
Debtors 8 1,406,732 1,307,861
Cash at bank and in hand 168,399 35,876
2,392,068 2,023,442
Creditors: Amounts Falling Due Within One Year 9 (960,800 ) (699,968 )
NET CURRENT ASSETS (LIABILITIES) 1,431,268 1,323,474
TOTAL ASSETS LESS CURRENT LIABILITIES 2,120,919 2,126,218
Creditors: Amounts Falling Due After More Than One Year 10 (359,540 ) (406,612 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 12 (85,161 ) (11,214 )
NET ASSETS 1,676,218 1,708,392
CAPITAL AND RESERVES
Called up share capital 14 69,675 69,675
Share premium account 118,949 118,949
Capital redemption reserve 8,876 8,876
Profit and Loss Account 1,478,718 1,510,892
SHAREHOLDERS' FUNDS 1,676,218 1,708,392
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Raoul Perfitt
Director
20/09/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Herb U.K. Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02478355 . The registered office is 610 Ampress Lane, Ampress Park, Lymington, Hampshire, SO41 8LW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Trademarks & Patents, capitalised software and capitalised website development costs. 
They are amortised to the profit and loss account over their estimated economic life of:
  • Trademarks & Patents - 10 years
  • Capitalised software - 3 years
  • Capitalised website development costs - 5 years
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10 years straight line
Plant & Machinery 20% straight line
Fixtures & Fittings 10% straight line
Computer Equipment 25% straight line
Fixed assets investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Financial Instruments
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. Bank overdrafts are shown within borrowings or current liabilities.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors
Trade and other creditors are recognised at the settlement amount due after any trade discount offered. Accruals are valued at the amount due in the future net of any trade discounts.
Interest-bearing borrowings
Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in theprofit and loss account over the period of the borrowings, together with any interest and fees payable, using the effective interest method.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2022: 53)
45 53
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4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 January 2023 199,999 760,846 960,845
Additions - 21,905 21,905
As at 31 December 2023 199,999 782,751 982,750
Amortisation
As at 1 January 2023 163,333 444,342 607,675
Provided during the period 19,999 88,367 108,366
As at 31 December 2023 183,332 532,709 716,041
Net Book Value
As at 31 December 2023 16,667 250,042 266,709
As at 1 January 2023 36,666 316,504 353,170
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 19,801 447,367 244,546 90,323 802,037
Additions - 32,146 22,607 6,008 60,761
Disposals - (7,815 ) - - (7,815 )
As at 31 December 2023 19,801 471,698 267,153 96,331 854,983
Depreciation
As at 1 January 2023 2,820 180,264 83,286 86,193 352,563
Provided during the period 2,285 42,156 38,956 2,780 86,177
Disposals - (6,599 ) - - (6,599 )
As at 31 December 2023 5,105 215,821 122,242 88,973 432,141
Net Book Value
As at 31 December 2023 14,696 255,877 144,911 7,358 422,842
As at 1 January 2023 16,981 267,103 161,260 4,130 449,474
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6. Investments
Other
£
Cost
As at 1 January 2023 100
As at 31 December 2023 100
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 100
As at 1 January 2023 100
7. Stocks
2023 2022
£ £
Stock 816,937 679,705
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 328,370 243,095
Amounts owed by group undertakings 957,261 931,350
Other debtors 121,101 133,416
1,406,732 1,307,861
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 35,998 40,248
Trade creditors 431,634 386,533
Bank loans and overdrafts 156,583 -
Other creditors 301,943 239,606
Taxation and social security 34,642 33,581
960,800 699,968
10. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 107,763 143,762
Bank loans 251,777 262,850
359,540 406,612
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11. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 35,998 40,248
Later than one year and not later than five years 107,763 143,762
143,761 184,010
143,761 184,010
12. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 85,161 11,214
13. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 11,214 11,214
Additions 73,947 73,947
Balance at 31 December 2023 85,161 85,161
The Deferred Tax liability had been omitted in the prior year statutory accounts. The compariative figures have been restated to reflect the correct movement during the year ending 31st December 2023.
14. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 69,675 69,675
15. Related Party Transactions
The company's loan borrowings and lease obligations are supported by personal guarantees given by two of the directors.
16. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Herb U.K. (Holdings) Limited . Herb U.K. (Holdings) Limited was incorporated in England & Wales. Copies of the group accounts may be obtained from the secretary at 610 Ampress Lane, Ampress Park, Lymington SO41 8LW . The ultimate controlling party is Herb U.K. (Holdings) Limited who controls 99.8% of the shares of Herb U.K. Limited .
17. Other financial commitments
The company has given a debenture, comprising of fixed and floating charges over all its assets, to HSBC Bank PLC.
The company has given an unlimited composite cross guarantee to its bank securing all liabilities of other group undertakings.
The company has granted a fixed charge over some of its fixed assets to the Herb UK Limited Retirement Benefit Scheme.
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