Company registration number 14597562 (England and Wales)
Hebs Holdings Limited
financial statements
For the year ended 31 January 2024
Hebs Holdings Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Hebs Holdings Limited
Statement of financial position
As at 31 January 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
4
1,059,961
Current assets
Cash at bank and in hand
100
Creditors: amounts falling due within one year
5
(151,693)
Net current liabilities
(151,593)
Total assets less current liabilities
908,368
Creditors: amounts falling due after more than one year
6
(636,518)
Net assets
271,850
Capital and reserves
Called up share capital
7
100
Other reserves
273,200
Profit and loss reserves
(1,450)
Total equity
271,850

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 12 March 2025 and are signed on its behalf by:
P Bolland
Director
Company registration number 14597562 (England and Wales)
Hebs Holdings Limited
Statement of changes in equity
For the year ended 31 January 2024
- 2 -
Share capital
Capital contribution reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 17 January 2023
100
-
-
100
Year ended 31 January 2024:
Profit and total comprehensive income
-
-
18,431
18,431
Dividends
-
-
(66,000)
(66,000)
Capital contribution
-
319,319
-
-
0
Unwinding of discount on shareholder loans
-
(46,119)
46,119
-
Balance at 31 January 2024
100
273,200
(1,450)
271,850
Hebs Holdings Limited
Notes to the financial statements
For the year ended 31 January 2024
- 3 -
1
Accounting policies
Company information

Hebs Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4-6 St Johns Road, Waterloo, Liverpool, L22 9QG.

1.1
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
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.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Hebs Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
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.

Hebs Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year were:

2024
Number
Total
-
0
4
Fixed asset investments
2024
Notes
£
Investments in subsidiaries
1,059,961
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 17 January 2023
-
Additions
1,059,961
At 31 January 2024
1,059,961
Carrying amount
At 31 January 2024
1,059,961

Investments are measured at cost less any accumulated impairment losses. The investment represents the holding in the subsidiary company that was acquired in the year. As at 31 January 2024, there were no impairment losses that were incurred.

Hebs Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
£
Amounts owed to group undertakings
150,243
Accruals and deferred income
1,450
151,693
6
Creditors: amounts falling due after more than one year
2024
Notes
£
Other borrowings
636,518

Other borrowings are shareholder loan notes that are repayable on the maturity date in May 2027. The loan notes are interest free up to the maturity date and interest will start to accrue on any outstanding balance thereafter at a rate of 6% per annum above the base rate. The balance as at 31 January 2024 is the fair value of the loan notes with the difference between the fair value and transaction price being accounted for as a capital contribution.

7
Share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary shares of £1 each
60
60
B ordinary shares of £1 each
30
30
C Ordinary shares of £1 each
10
10
100
100
8
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.

Statutory Auditor:
DJH Audit Limited
Date of audit report:
12 March 2025
Hebs Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 January 2024
- 7 -
9
Related party transactions

During the year, shareholder loan notes amounting to £909,718 were issued. The loan notes are interest free up to the maturity date in May 2027. The loan notes have been measured at their fair value with the difference being accounted for as capital contribution in the capital contribution reserve. The capital contribution reserve balance is reduced by interest as the loan notes are amortised.

 

As at 31 January 2024, the loan notes balance amounted to £636,518 and capital contribution reserve balance was £273,200. During the year, interest charge from unwinding the loan notes amounted to £46,119.

 

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