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REGISTERED NUMBER: 11073656 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Herzog Kendrick Ltd

Herzog Kendrick Ltd (Registered number: 11073656)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Herzog Kendrick Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S J Beahan
Miss A C Beahan





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 11073656 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Herzog Kendrick Ltd (Registered number: 11073656)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,108 3,510
Investments 5 504,878 504,878
508,986 508,388

CURRENT ASSETS
Stocks 987,990 529,818
Debtors 6 13,934 17,313
Cash at bank 8,425 1,454
1,010,349 548,585
CREDITORS
Amounts falling due within one year 7 1,263,700 746,689
NET CURRENT LIABILITIES (253,351 ) (198,104 )
TOTAL ASSETS LESS CURRENT LIABILITIES 255,635 310,284

CREDITORS
Amounts falling due after more than one year 8 (306,459 ) (340,510 )

PROVISIONS FOR LIABILITIES 10 (1,027 ) -
NET LIABILITIES (51,851 ) (30,226 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings (51,852 ) (30,227 )
SHAREHOLDERS' FUNDS (51,851 ) (30,226 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Herzog Kendrick Ltd (Registered number: 11073656)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





S J Beahan - Director


Herzog Kendrick Ltd (Registered number: 11073656)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Herzog Kendrick Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rental property income attributable in the period.

Any rents received in advance are deferred to the future period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Herzog Kendrick Ltd (Registered number: 11073656)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Herzog Kendrick Ltd (Registered number: 11073656)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

Going concern
Having discussed the projected results and cash flow of the company with the director, it is anticipated that the company will generate profits and cash in the future. The company currently has the support of the director in order that the cash demands can be met. Whilst there is always considerable uncertainty in predicting cash flows more than a few months into the future, the director is confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the financial statements on the going concern basis.

Investment property
The value of the fixed asset investment on 29 February 2024 has been carried out by the director on an open market basis and is considered to be equivalent to the cost. He is considered to have sufficient expertise to value this asset and provide a true and fair view. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 5,494
Additions 1,666
At 29 February 2024 7,160
DEPRECIATION
At 1 March 2023 1,984
Charge for year 1,068
At 29 February 2024 3,052
NET BOOK VALUE
At 29 February 2024 4,108
At 28 February 2023 3,510

Herzog Kendrick Ltd (Registered number: 11073656)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Freehold
property
£   
COST
At 1 March 2023
and 29 February 2024 504,878
NET BOOK VALUE
At 29 February 2024 504,878
At 28 February 2023 504,878

The value of the fixed asset investment on 29 February 2024 has been carried out by the director on an open market basis and is considered to be equivalent to the cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 13,934 17,313

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,759 -
Taxation and social security 4,643 -
Other creditors 1,243,298 746,689
1,263,700 746,689

Included in other creditors is a directors loan account. Interest has not been charged.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 306,459 340,510

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 306,459 340,510

Herzog Kendrick Ltd (Registered number: 11073656)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 306,459 340,510

The bank loan is secured against the investment property in the form of debentures that contain fixed and floating charges over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 1,027 -

Deferred
tax
£   
Charge to Income Statement during year 1,027
Balance at 29 February 2024 1,027

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1