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Heming Engineering Limited
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Notes to the financial statements
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for the year ended 31 December 2024
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1
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Company information
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Heming Engineering Limited is a private company registered in England and Wales. Its registered
number is 08772821. The company is limited by shares. Its registered office is Collin Lane, Willersey,
WR12 7PE.
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2
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Accounting policies
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Basis of preparing the financial statements
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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 historic cost convention.
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Going concern
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In preparing these financial statements, the directors have assessed whether there are any material
uncertainties related to events or conditions that cast significant doubt upon the company's ability to
continue as a going concern. In making this assessment, the directors take into account all available
information about the future which is at least 12 months from the date that the financial statements are
authorised for issue.
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The directors consider that the company has adequate resources to continue in business for the
foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial
statements.
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, Value Added Tax and other sales taxes.
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Stocks
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.
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Hire purchase and leasing commitments
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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.
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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.
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3
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Average number of employees
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During the year the average number of employees was 2 (2023 - 4).
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3
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