Registration number:
Herons (Investments) Ltd
for the Year Ended 29 February 2024
Herons (Investments) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Herons (Investments) Ltd
Company Information
Director |
Mr K T Lake |
Registered office |
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Accountants |
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Herons (Investments) Ltd
(Registration number: 11229373)
Balance Sheet as at 29 February 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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- |
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Net assets |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Share premium reserve |
1,968,401 |
1,968,401 |
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Retained earnings |
1,101,422 |
1,066,563 |
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Shareholders' funds |
3,070,023 |
3,035,164 |
Herons (Investments) Ltd
(Registration number: 11229373)
Balance Sheet as at 29 February 2024
For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
Summary of disclosure exemptions
The company has taken advantage of the exemption to not disclose transactions with wholly owned group members (FRS102 1AC.35)..
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and rental income. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tax
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.
Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.
Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.
Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.
Tangible assets
Tangible assets are stated in the balance sheet 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:
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
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.
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.
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.
Financial instruments
Classification
Recognition and measurement
Trade and other debtors (including accrued income) which are receivable within one year are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.
Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.
Trade and other creditors (including accruals) payable within one year are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 March 2023 |
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At 29 February 2024 |
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Depreciation |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Included within the net book value of land and buildings above is £250,000 (2023 - £250,000) in respect of long leasehold land and buildings.
Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 March 2023 |
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Additions |
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At 29 February 2024 |
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Provision |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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8a Carlton Crescent, Southampton, SO15 2EZ England |
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8 Highfield Road
England |
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Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Subsidiary undertakings |
Orchard Homes & Developments Limited The principal activity of Orchard Homes & Developments Limited is |
Orchard Homes (Southern) Limited The principal activity of Orchard Homes (Southern) Limited is |
Stocks |
2024 |
2023 |
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Work in progress |
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Debtors |
Note |
2024 |
2023 |
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Amounts owed by related parties |
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Other debtors |
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Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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- |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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200 |
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200 |
Herons (Investments) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Related party transactions |
Key management personnel
At the balance sheet date, a member of key management personnel was owed £748,217 (2023 £1,326,321) by the company. This amount is included within creditors falling due within one year.
Summary of transactions with key management
No interest was paid on this loan during the year and there are no fixed terms for repayment.
Summary of transactions with associates
No interest was paid on these loans during the year and there are no fixed terms for repayment.