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REGISTERED NUMBER: 01858788 (England and Wales)















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: Mrs J M McWilliams
Mr O J Schott
Mr K G W Haller





SECRETARY: Mr T P Sargent





REGISTERED OFFICE: Severalls Park
Wyncolls Road
Colchester
Essex
CO4 9LW





REGISTERED NUMBER: 01858788 (England and Wales)

HERMES ABRASIVES LIMITED (REGISTERED NUMBER: 01858788)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 1,093,977 1,524,635

CREDITORS
Amounts falling due within one year 5 (1,093,975 ) (1,524,633 )
NET CURRENT ASSETS 2 2
TOTAL ASSETS LESS CURRENT LIABILITIES 2 2

CAPITAL AND RESERVES
Called up share capital 2 2
SHAREHOLDERS' FUNDS 2 2

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





Mrs J M McWilliams - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
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 historical cost convention.

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 1,093,975 1,080,055
Amounts due from related undertakings 2 2
Other debtors - 444,578
1,093,977 1,524,635

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 487,326 1,215,696
Other tax and social security 317,561 308,937
Other creditors 289,088 -
1,093,975 1,524,633

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.

Melinda Simpson (Senior Statutory Auditor)
for and on behalf of TC Group

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.