Registered number
SC144421
Herbie of Edinburgh Limited
Unaudited Filleted Accounts
31 January 2025
Herbie of Edinburgh Limited
Registered number: SC144421
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 12 861
13 862
Current assets
Stocks 23,686 21,307
Debtors 5 2,314 1,056
Cash at bank and in hand 57,130 78,110
83,130 100,473
Creditors: amounts falling due within one year 6 (81,257) (88,027)
Net current assets 1,873 12,446
Total assets less current liabilities 1,886 13,308
Creditors: amounts falling due after more than one year 7 (5,524) (15,852)
Provisions for liabilities (3) (164)
Net liabilities (3,641) (2,708)
Capital and reserves
Called up share capital 2 2
Share premium 1 1
Profit and loss account (3,644) (2,711)
Shareholders' funds (3,641) (2,708)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Andrew Firth
Director
Approved by the board on 20 May 2025
Herbie of Edinburgh Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
The financial statements are presented in UK Sterling (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
The financial statements have been prepared on the basis that the company can continue to
operate as a going concern. This assumes the continued support of the company's directors.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 8 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2024 37,376
At 31 January 2025 37,376
Amortisation
At 1 February 2024 37,375
At 31 January 2025 37,375
Net book value
At 31 January 2025 1
At 31 January 2024 1
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024 82,531
At 31 January 2025 82,531
Depreciation
At 1 February 2024 81,670
Charge for the year 849
At 31 January 2025 82,519
Net book value
At 31 January 2025 12
At 31 January 2024 861
5 Debtors 2025 2024
£ £
Other debtors 2,314 1,056
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 10,087 9,845
Trade creditors 14,262 16,919
Tax and social security costs 3,305 468
Other creditors 53,603 60,795
81,257 88,027
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 5,524 15,852
8 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 15,611 25,697
The secured loan is part of the Government's bounce back loan scheme.
9 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 75,833 83,200
10 Other information
Herbie of Edinburgh Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
66 Raeburn Place
Edinburgh
EH4 1HJ
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