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HEROTECH8 LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH JUNE 2024






HEROTECH8 LTD (REGISTERED NUMBER: 10217820)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

HEROTECH8 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: R Gojon
Ms A Girgin Ozbilis
D Cesur





REGISTERED OFFICE: Unit 1
Medway Court
University Way
Cranfield
Bedfordshire
MK43 0FQ





REGISTERED NUMBER: 10217820 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

HEROTECH8 LTD (REGISTERED NUMBER: 10217820)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,486 27,158

CURRENT ASSETS
Debtors 5 236,115 275,817
Cash at bank 33,409 110,540
269,524 386,357
CREDITORS
Amounts falling due within one year 6 106,010 110,697
NET CURRENT ASSETS 163,514 275,660
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,000

302,818

CREDITORS
Amounts falling due after more than one
year

7

596,138

525,801
NET LIABILITIES (412,138 ) (222,983 )

CAPITAL AND RESERVES
Called up share capital 9,063 9,063
Share premium 359,610 359,610
Retained earnings (780,811 ) (591,656 )
(412,138 ) (222,983 )

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

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

HEROTECH8 LTD (REGISTERED NUMBER: 10217820)

BALANCE SHEET - continued
30TH JUNE 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2025 and were signed on its behalf by:





R Gojon - Director


HEROTECH8 LTD (REGISTERED NUMBER: 10217820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Herotech8 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.

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Revenue represents amounts chargeable to clients for various revenue streams, such as asset management and drone consultancy, provided during the year, net of any value added tax. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

HEROTECH8 LTD (REGISTERED NUMBER: 10217820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

2. ACCOUNTING POLICIES - continued

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 12 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2023 27,828 16,038 7,668 51,534
Additions 1,691 - 1,371 3,062
At 30th June 2024 29,519 16,038 9,039 54,596
DEPRECIATION
At 1st July 2023 14,983 6,515 2,878 24,376
Charge for year 4,535 2,381 2,818 9,734
At 30th June 2024 19,518 8,896 5,696 34,110
NET BOOK VALUE
At 30th June 2024 10,001 7,142 3,343 20,486
At 30th June 2023 12,845 9,523 4,790 27,158

The net book value of tangible fixed assets includes £ 7,142 (2023 - £ 9,523 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 177,281 1,355
Other debtors 6,529 7,236
Directors' current accounts - 2,003
Tax 5,000 -
Accrued income 32,179 226,209
Prepayments 15,126 39,014
236,115 275,817

HEROTECH8 LTD (REGISTERED NUMBER: 10217820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,600 4,600
Hire purchase contracts 4,488 4,047
Trade creditors 37,199 20,767
Social security and other taxes 19,650 54,227
VAT 2,138 18,154
Other creditors 1,658 -
Net wages outstanding - 386
Directors' current accounts - 586
Deferred income 18,557 -
Accrued expenses 17,720 7,930
106,010 110,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,133 10,733
Other loans - Loan notes 589,210 509,784
Hire purchase contracts 795 5,284
596,138 525,801

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2024 and 30th June 2023:

2024 2023
£    £   
E Anastassacos
Balance outstanding at start of year 2,003 -
Amounts advanced - 2,003
Amounts repaid (2,003 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 2,003

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HEROTECH8 LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Herotech8 Ltd for the year ended 30th June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Herotech8 Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Herotech8 Ltd and state those matters that we have agreed to state to the Board of Directors of Herotech8 Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Herotech8 Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Herotech8 Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Herotech8 Ltd. You consider that Herotech8 Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Herotech8 Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


19th March 2025