REGISTERED NUMBER: |
HERBERT ANDREWS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
REGISTERED NUMBER: |
HERBERT ANDREWS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
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 |
HERBERT ANDREWS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Central Chambers |
45-47 Albert Street |
Rugby |
Warwickshire |
CV21 2SG |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
BALANCE SHEET - continued |
30TH JUNE 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
Herbert Andrews Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
There are no significant judgements that have a material effect on the accounts nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period. |
Turnover |
Turnover represents the value of rents and recharged expenses receivable. The company is registered for value added tax. |
Tangible fixed assets |
Motor vehicles | - |
Equipment | - |
Investment property |
Investment property is carried at fair value. Revaluation surpluses or deficits are recognised in the income statement. Deferred taxation is provided on these gains and the net of revaluation and deferred tax movement transferred to a fair value reserve. |
The directors review the property portfolio each year and adjust the carrying values where they believe that there is a material adjustment to the previous year. |
Work in progress |
Work in progress is valued at the lower of cost and net realisable value taking into account all costs incurred in getting the property to its current state. |
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. |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles | Equipment | Totals |
£ | £ | £ |
COST |
At 1st July 2023 |
Additions |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
Fair value at 30th June 2024 is represented by: |
£ |
Valuation in 2021 | 808,256 |
Cost | 4,512,319 |
5,320,575 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Other loans | 585,268 | 1,365,383 |
Prepayments and accrued income |
HERBERT ANDREWS LIMITED (REGISTERED NUMBER: 11421981) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Joint venture investments |
Investments held at 30th June 2024 consist of : |
25% of the issued share capital of Banbury Magistrates Court Limited |
25% of the issued share capital of TH Byfield Limited |
25% of the issued share capital of TH Silverstone Limited |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax payable |
Other creditors |
Directors' current accounts | 4,012,773 | 4,908,027 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
494,108 | 500,226 |
A first legal charge over the freehold land and buildings at 15 Coleshill Road, Nuneaton CV10 ONZ and 29 Tachbrook Road, Leamington Spa, CV31 3DW, along with an unlimited debenture from the company. |
11. | RELATED PARTY DISCLOSURES |
Included in debtors are loans of £405,266 due within one year (2023 - £1,365,383) to joint venture companies in which Herbert Andrews Limited holds 25% of the issued share capital. |