| REGISTERED NUMBER: |
| HERMES ABRASIVES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 DECEMBER 2024 |
| REGISTERED NUMBER: |
| HERMES ABRASIVES LIMITED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 DECEMBER 2024 |
| HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| HERMES ABRASIVES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Hermes Abrasives Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£) and the financial statements are rounded to the nearest Pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparation |
| Turnover |
| Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers during the year. |
| Financial instruments |
| Basic financial instruments are measured at amortised cost. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Deferred taxation |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Foreign currencies |
| Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts due from related undertakings |
| Other debtors |
| Included in other debtors is an amount of £Nil (2023: £444,578) that has been factored under a confidential invoice discounting facility. The company has retained the risk and reward associated with the ownership of these debts. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts due to parent undertakings |
| Other tax and social security |
| Other creditors |
| Included in other creditors is an amount of £289,088 (2023: £Nil) that has been factored under a confidential invoice discounting facility. The company has retained the risk and reward associated with the ownership of these debts. |
| 6. | SECURED DEBTS |
| The company has an invoice discounting facility in place through RBS Invoice Finance Limited. Any liabilities are secured by fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery. |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 8. | RELATED PARTY DISCLOSURES |
| As the company is a wholly owned subsidiary of Hermes Abrasives GmbH, 100% of the company's voting rights are controlled within the group headed by Hermes Schleifwerkzeuge GmbH & Co. KG, the company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose transactions or balances with entities which form part of the group (or investees of the group qualifying as related parties). The consolidated financial statements of Hermes Schleifwerkzeuge GmbH & Co. KG can be obtained from Luruper Hauptstrasse 106, 22547 Hamburg, Germany. |