Company No:
Contents
| DIRECTOR | S R McMinnies |
| REGISTERED OFFICE | Brockbourne House |
| 77 Mount Ephraim | |
| Tunbridge Wells | |
| TN4 8BS | |
| United Kingdom |
| COMPANY NUMBER | 13596051 (England and Wales) |
| ACCOUNTANT | S&W Partners (South East) Limited |
| Brockbourne House | |
| 77 Mount Ephraim | |
| Royal Tunbridge Wells | |
| TN4 8BS |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 2,964,540 | 1,663,651 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 52,647 | 32,863 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (2,226,157) | (1,584,853) | ||
| Total assets less current liabilities | 738,383 | 78,798 | ||
| Provision for liabilities | 6 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
The financial statements of Herondale Investment Holdings Limited (registered number:
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S R McMinnies
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Herondale Investment Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Herondale Investment Holdings Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 October 2023 |
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| Additions |
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| Movement in fair value |
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| At 30 September 2024 |
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| Carrying value at 30 September 2024 |
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| Carrying value at 30 September 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Accrued income |
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During the year, as per condition 4.5 of the Loan Note Certificate, dated 25 June 2021, Delfield elected to defer three interest payments which totalled £41,761 (2023 - £nil deferred payments). As per condition 4.8, the deferred amount of interest is to incur interest at the same rate as the Notes to which it applies (7%). At the year-end, the extra interest incurred and accrued for amounted to £1,255 (2023 - £nil).
| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed to director |
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| Accruals |
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| Corporation tax |
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| 2024 | 2023 | ||
| £ | £ | ||
| At the beginning of financial year |
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| Charged to the Statement of Income and Retained Earnings | (
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| At the end of financial year | (
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The deferred taxation balance is made up as follows:
| 2024 | 2023 | ||
| £ | £ | ||
| Capital gains | (
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Transactions with the entity's director
| 2024 | 2023 | ||
| £ | £ | ||
| Loans made to the Company by the Director | 658,000 | 0 |
At the year-end, the Company owed the directors £2,260,500 (2023: £1,602,500), this amount is included within other creditors due within one year. This amount is unsecured, interest free and repayable on demand.
The ultimate controlling party is S R McMinnies, by virtue of his directorship and shareholding in the Company.