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Registration number: 07659138

Hera Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Hera Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Hera Investments Limited

Company Information

Director

N W Wray

Registered office

Belfry House
Champions Way
Hendon
London
NW4 1PX

 

Hera Investments Limited

(Registration number: 07659138)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment in subsidiary

4

76,275,487

76,275,000

Current assets

 

Cash at bank and in hand

 

1,000

1,000

Creditors: Amounts falling due within one year

5

(76,276,237)

(76,275,750)

Net current liabilities

 

(76,275,237)

(76,274,750)

Net assets

 

250

250

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

(750)

(750)

Shareholder's funds

 

250

250

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and the director's report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 28 March 2025
 

.........................................

N W Wray

Director

 

Hera Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital incorporated in England. The registered office address is shown on page 1.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The financial statements have been prepared on a going concern basis. The company is dependent on the continuing support of its parent undertaking to meet its liabilities and the parent undertaking has confirmed it will provide financial support to enable the company to meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements are approved.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the director to exercise judgement in applying the accounting policies.

In preparing these financial statements, the director has had to make the following judgement:

- Determine to what extent there are indicators of impairment of the company's investment in its subsidiary that is carried at cost. Factors taken into consideration in reaching such a decision include value of investments held by the subsidiary and knowledge as to the economic viability and expected future financial performance of the subsidiary.

There were no other significant judgements or areas of estimation uncertainty.

 

Hera Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Summary of significant accounting policies

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

Investment in subsidiary

Investment in subsidiary is measured in the balance sheet at cost less any provision for impairment. Any impairment movements are included in the statement of comprehensive income.

An entity is treated as a subsidiary where the company has the power to govern the financial and operating policies of the investee entity so as to obtain benefits from its activities.

Cash at bank and in hand

This comprises cash in hand.

Financial instruments

Classification
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than its legal form.

 Recognition and measurement
The company's cash in hand and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.

3

Employees and director information

The company had no employees (2023 - none) and 1 director (2023 - 1) during the year. The director did not receive any remuneration during the year (2023 - £nil).

4

Investment in subsidiary

2024
£

2023
£

Carrying amount

76,275,487

76,275,000

£

Cost

At 1 April 2023

76,275,000

Adjustment

487

At 31 March 2024

76,275,487

Carrying amount

At 31 March 2024

76,275,487

At 31 March 2023

76,275,000

 

Hera Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Details of subsidiary is as follows:

Name

Registered office

Holding

Proportion of shares and voting rights held

     

2024

2023

Moneypitch Company Limited

Column House
London Road
Shrewsbury
Shropshire
SY2 6NN

Ordinary share capital

100%

100%

 

England

     

The principal activity of Moneypitch Company Limited, a company incorporated in England, is that of an investment holding company.

5

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Amounts due to parent undertaking

 

76,275,487

76,275,000

Amounts due to other group undertakings

7

750

750

 

76,276,237

76,275,750

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

Hera Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Related party transactions

The company has taken advantage of exemption available in FRS 102 Section 1A not to disclose any transactions with its parent company other than those disclosed elsewhere in the notes.

Amounts due to related parties

2024

Other group undertakings
£

At start of year

750

At end of year

750

2023

Other group undertakings
£

At start of year

750

At end of year

750

The above amounts due to other group undertakings are unsecured, interest free and repayable on demand.

8

Ultimate controlling party

At 31 March 2024, the company's immediate and ultimate parent company was Eurobeck Limited, a company incorporated in Cyprus and resident in United Kingdom and the ultimate controlling party was N W Wray. No publicly available consolidated financial statements are prepared that incorporate the results of the company.

At the date of approval of these financial statements, the ultimate parent company is now Argent Finance Limited, a company incorporated and resident in Jersey. The ultimate controlling party is RBC Trustees (Jersey) as trustee of The Edna Wray Grandchildren's Accumulation and Maintenance Trust.