2 false false false false false false false false true false true true false false false false false No description of principal activity 2023-06-27 Sage Accounts Production Advanced 2023 - FRS102_2023 2,504,708 168,748 2,673,456 2,673,456 xbrli:pure xbrli:shares iso4217:GBP 14963813 2023-06-27 2024-06-30 14963813 2024-06-30 14963813 2023-06-26 14963813 core:FurnitureFittings 2023-06-27 2024-06-30 14963813 bus:Director1 2023-06-27 2024-06-30 14963813 core:FurnitureFittings 2024-06-30 14963813 core:WithinOneYear 2024-06-30 14963813 core:ShareCapital 2024-06-30 14963813 core:RetainedEarningsAccumulatedLosses 2024-06-30 14963813 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-06-30 14963813 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-06-30 14963813 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 14963813 core:Non-currentFinancialInstruments 2024-06-30 14963813 bus:SmallEntities 2023-06-27 2024-06-30 14963813 bus:AuditExemptWithAccountantsReport 2023-06-27 2024-06-30 14963813 bus:SmallCompaniesRegimeForAccounts 2023-06-27 2024-06-30 14963813 bus:PrivateLimitedCompanyLtd 2023-06-27 2024-06-30 14963813 bus:FullAccounts 2023-06-27 2024-06-30 14963813 core:FurnitureFittingsToolsEquipment 2023-06-27 2024-06-30 14963813 core:FurnitureFittingsToolsEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 14963813
New Hera Development Ltd
Filleted Unaudited Financial Statements
30 June 2024
New Hera Development Ltd
Statement of Financial Position
30 June 2024
30 Jun 24
Note
£
Fixed assets
Tangible assets
5
692
Investments
6
2,673,456
------------
2,674,148
Current assets
Debtors
7
14,000
Cash at bank and in hand
70,716
--------
84,716
Creditors: amounts falling due within one year
8
2,631,316
------------
Net current liabilities
2,546,600
------------
Total assets less current liabilities
127,548
---------
Capital and reserves
Called up share capital
1
Profit and loss account
127,547
---------
Shareholder funds
127,548
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
New Hera Development Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
Mr R H Brooks, CBE
Director
Company registration number: 14963813
New Hera Development Ltd
Notes to the Financial Statements
Period from 27 June 2023 to 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Suite 104, 14 Hanover Square, London, W1S 1HN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 27 June 2023
Additions
385
456
841
----
----
----
At 30 June 2024
385
456
841
----
----
----
Depreciation
At 27 June 2023
Charge for the period
58
91
149
----
----
----
At 30 June 2024
58
91
149
----
----
----
Carrying amount
At 30 June 2024
327
365
692
----
----
----
6. Investments
Other investments other than loans
£
Cost
At 27 June 2023
Additions
2,504,708
Revaluations
168,748
------------
At 30 June 2024
2,673,456
------------
Impairment
At 27 June 2023 and 30 June 2024
------------
Carrying amount
At 30 June 2024
2,673,456
------------
Investments held at valuation
The director based the market value of the Listed Investments based on information provided by Titan Private Wealth, a business regulated by the Financial Conduct Authority, at 28 June 2024.
In respect of investments held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Other investments other than loans
£
At 30 June 2024
Aggregate cost
2,504,708
Aggregate depreciation
------------
Carrying value
2,504,708
------------
7. Debtors
30 Jun 24
£
Other debtors
14,000
--------
8. Creditors: amounts falling due within one year
30 Jun 24
£
Social security and other taxes
1,332
Other creditors
2,629,984
------------
2,631,316
------------