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REGISTERED NUMBER: 05391062 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Herd Mundy Richardson Limited

Herd Mundy Richardson Limited (Registered number: 05391062)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Herd Mundy Richardson Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Shippen
C Marshall
A Panjeta
M A Wrigley





REGISTERED OFFICE: Oak House Bredbury Parkway
Ashton Road Bredbury
Stockport
Cheshire
SK6 2SN





REGISTERED NUMBER: 05391062 (England and Wales)





ACCOUNTANTS: Graham & Fisher Limited
T/A Grahams
Chartered Accountants
30 Birkenhead Road
Hoylake
Wirral
CH47 3BW

Herd Mundy Richardson Limited (Registered number: 05391062)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 19,247
Tangible assets 5 1,405,754 1,416,269
1,405,754 1,435,516

CURRENT ASSETS
Stocks 241,310 152,614
Debtors 6 6,917,551 6,778,607
Cash at bank and in hand 529,441 1,677,547
7,688,302 8,608,768
CREDITORS
Amounts falling due within one year 7 404,427 692,681
NET CURRENT ASSETS 7,283,875 7,916,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,689,629

9,351,603

CREDITORS
Amounts falling due after more than one year 8 (782,276 ) (1,888,155 )

PROVISIONS FOR LIABILITIES (31,681 ) (28,067 )
NET ASSETS 7,875,672 7,435,381

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 100 100
Retained earnings 7,875,072 7,434,781
7,875,672 7,435,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Herd Mundy Richardson Limited (Registered number: 05391062)

Balance Sheet - continued
30 April 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 15 January 2025 and were signed on its behalf by:





A Shippen - Director


Herd Mundy Richardson Limited (Registered number: 05391062)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Herd Mundy Richardson Limited 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.

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.

Critical accounting judgements and key sources of estimation uncertainty
The following judgements and estimates have been made in the process of applying the accounting policies that have had the most significant effect on amounts recognised in the financial statements.

Work in progress is valued based on the estimated stage of completion of a job, with reference to the number of tests completed, less provision made for any foreseeable losses where appropriate.

Turnover
Turnover comprises revenue recognised by the company in respect of pharmaceutical testing services supplied during the year, exclusive of Value Added Tax.

Turnover is recognised on the completion of testing, at the fair value of the consideration receivable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software licences is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 20% on cost

Work in progress
Work in progress is valued based on the estimated stage of completion of a job, with reference to the number of tests completed. Provision is made for any foreseeable losses where appropriate.

Herd Mundy Richardson Limited (Registered number: 05391062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

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 the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective 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 of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 38 ) .

Herd Mundy Richardson Limited (Registered number: 05391062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 140,691
AMORTISATION
At 1 May 2023 121,444
Charge for year 19,247
At 30 April 2024 140,691
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 19,247

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 1,846,000 1,851,839 3,697,839
Additions - 96,683 96,683
Disposals - (4,900 ) (4,900 )
At 30 April 2024 1,846,000 1,943,622 3,789,622
DEPRECIATION
At 1 May 2023 547,647 1,733,923 2,281,570
Charge for year 36,920 70,278 107,198
Eliminated on disposal - (4,900 ) (4,900 )
At 30 April 2024 584,567 1,799,301 2,383,868
NET BOOK VALUE
At 30 April 2024 1,261,433 144,321 1,405,754
At 30 April 2023 1,298,353 117,916 1,416,269

Herd Mundy Richardson Limited (Registered number: 05391062)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 676,143 659,471
Amounts owed by group undertakings 6,209,442 6,070,519
Other debtors 31,966 48,617
6,917,551 6,778,607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 33,838 204,860
Hire purchase contracts 12,624 -
Trade creditors 55,802 65,960
Taxation and social security 224,137 359,382
Other creditors 78,026 62,479
404,427 692,681

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 717,800 1,888,155
Hire purchase contracts 64,476 -
782,276 1,888,155