Company registration number 12182060 (England and Wales)
Heneghan Comms Limited
FINANCIAL STATEMENTS
for the year ended 30 April 2024
PAGES FOR FILING WITH REGISTRAR
Heneghan Comms Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Heneghan Comms Limited
Statement Of Financial Position
as at 30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors - deferred tax
5
94
Debtors - other
3
1,463,952
1,138,007
Cash at bank and in hand
59,581
10,765
1,523,627
1,148,772
Creditors: amounts falling due within one year
4
(1,437,301)
(1,065,096)
Net current assets
86,326
83,676
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
86,226
83,576
Total equity
86,326
83,676
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr P Heneghan
Director
Company registration number 12182060 (England and Wales)
Heneghan Comms Limited
Statement Of Changes In Equity
for the year ended 30 April 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2022
100
(25,042)
(24,942)
Year ended 30 April 2023:
Profit and total comprehensive income
-
108,618
108,618
Balance at 30 April 2023
100
83,576
83,676
Year ended 30 April 2024:
Profit and total comprehensive income
-
332,650
332,650
Dividends
-
(330,000)
(330,000)
Balance at 30 April 2024
100
86,226
86,326
Heneghan Comms Limited
Notes to the financial statements
for the year ended 30 April 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Heneghan Holdings Limited. These consolidated financial statements are available from its registered office.
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
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 is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Heneghan Comms Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
1
Accounting policies
(continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Directors
2
2
Production
9
8
Total
11
10
Heneghan Comms Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
- 5 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
943,540
Amounts owed by group undertakings
770,629
Other debtors
693,323
194,467
1,463,952
1,138,007
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 5)
94
Total debtors
1,464,046
1,138,007
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,507
674,931
Amounts owed to group undertakings
1,302,726
Corporation tax
111,011
20,013
Other creditors
875
369,152
Accruals and deferred income
8,182
1,000
1,437,301
1,065,096
5
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Assets
Assets
2024
2023
Balances:
£
£
Short term timing differences
94
-
Heneghan Comms Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
5
Deferred taxation
(continued)
- 6 -
2024
Movements in the year:
£
Liability at 1 May 2023
-
Credit to profit or loss
(94)
Asset at 30 April 2024
(94)
The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.
6
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
80
80
80
80
B Ordinary shares of £1 each
20
20
20
20
100
100
100
100
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
James Bell
Statutory Auditor:
B M Howarth Ltd
Date of audit report:
29 January 2025
8
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
1,302,726
-
Other related parties
-
369,152
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Other related parties
770,629
7,339
Heneghan Comms Limited
Notes to the financial statements (continued)
for the year ended 30 April 2024
- 7 -
9
Ultimate controlling party
The company's parent undertaking is Heneghan Holdings Limited, which is registered in England and Wales, its registered office is Unit 3 Landmark Court, Leeds, England, LS11 8JT.
The company's ultimate parent undertaking is Heneghan Trustees Limited, which is registered in England and Wales, its registered office is Unit 3 Landmark Court, Leeds, England, LS11 8JT.
The following are the parents of the largest and smallest groups in which this company's results are consolidated:
10
Company information
Heneghan Comms Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3, Landmark Court, Leeds, West Yorkshire, LS11 8JT.