Registered number
09528474
Hert Estates Limited
Unaudited Filleted Accounts
30 June 2024
Hert Estates Limited
Registered number: 09528474
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 675,286 582,822
Investments 4 5 -
675,291 582,822
Current assets
Stocks 203,187 227,519
Debtors 5 386,184 253,886
Cash at bank and in hand 365,419 374,768
954,790 856,173
Creditors: amounts falling due within one year 6 (363,739) (348,443)
Net current assets 591,051 507,730
Total assets less current liabilities 1,266,342 1,090,552
Creditors: amounts falling due after more than one year 7 (151,038) (255,313)
Provisions for liabilities - deferred taxation (167,000) (145,000)
Net assets 948,304 690,239
Capital and reserves
Called up share capital 151 151
Share premium 40,915 40,915
Profit and loss account 907,238 649,173
Shareholders' funds 948,304 690,239
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rebecca Davies
Director
Approved by the board on 10 March 2025
Hert Estates Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 3 years
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Motor vehicles (cars and vans) 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 33,938 841,689 146,930 1,022,557
Additions 12,265 324,814 - 337,079
Disposals - (31,352) - (31,352)
At 30 June 2024 46,203 1,135,151 146,930 1,328,284
Depreciation
At 1 July 2023 30,387 329,310 80,038 439,735
Charge for the year 7,639 205,646 16,723 230,008
On disposals - (16,745) - (16,745)
At 30 June 2024 38,026 518,211 96,761 652,998
Net book value
At 30 June 2024 8,177 616,940 50,169 675,286
At 30 June 2023 3,551 512,379 66,892 582,822
The net book value of assets secured on finance leases was £241,866 (2023: £322,488).
4 Investments
Other
investments
£
Cost
Additions 5
At 30 June 2024 5
5 Debtors 2024 2023
£ £
Trade debtors 237,030 178,330
Other debtors 149,154 75,556
386,184 253,886
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,368 10,000
Obligations under finance lease and hire purchase contracts 94,506 108,904
Taxation and social security costs 121,235 57,918
Other creditors 137,630 171,621
363,739 348,443
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,524 20,551
Obligations under finance lease and hire purchase contracts 140,514 234,762
151,038 255,313
8 Loans 2024 2023
£ £
Creditors include:
Secured loans 235,020 343,666
The secured loans are finance agreements for certain items of plant and machinery and vehicles which are the security for the finance agreement.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 560,000 350,000
10 Related party transactions
2023: Share based payment transactions:
During the prior year, three employees exercised their options for 51 £1 Ordinary B shares under an Enterprise Management Incentive Scheme. These shares were issued during the prior year showing a total premium of £40,915 based on the option exercise price.
11 Other information
Hert Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor, Gallery Court
28 Arcadia Avenue
London
N3 2FG
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