BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is civil engineering and plant hire. 28 May 2025 7 7 NI604655 2024-10-31 NI604655 2023-10-31 NI604655 2022-10-31 NI604655 2023-11-01 2024-10-31 NI604655 2022-11-01 2023-10-31 NI604655 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI604655 uk-curr:PoundSterling 2023-11-01 2024-10-31 NI604655 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI604655 uk-bus:AbridgedAccounts 2023-11-01 2024-10-31 NI604655 uk-core:ShareCapital 2024-10-31 NI604655 uk-core:ShareCapital 2023-10-31 NI604655 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI604655 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI604655 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 NI604655 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI604655 uk-bus:FRS102 2023-11-01 2024-10-31 NI604655 uk-core:PlantMachinery 2023-11-01 2024-10-31 NI604655 uk-core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI604655 uk-core:MotorVehicles 2023-11-01 2024-10-31 NI604655 2023-11-01 2024-10-31 NI604655 uk-bus:Director1 2023-11-01 2024-10-31 NI604655 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Herron Contractors Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 October 2024



Herron Contractors Ltd
Company Registration Number: NI604655
ABRIDGED BALANCE SHEET
as at 31 October 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 1,300,207 912,814
───────── ─────────
 
Current Assets
Stocks 110,000 40,000
Debtors 660,578 868,660
Cash and cash equivalents 87,974 19,678
───────── ─────────
858,552 928,338
───────── ─────────
Creditors: amounts falling due within one year (529,452) (458,173)
───────── ─────────
Net Current Assets 329,100 470,165
───────── ─────────
Total Assets less Current Liabilities 1,629,307 1,382,979
 
Creditors:
amounts falling due after more than one year (530,317) (409,923)
 
Provisions for liabilities (325,051) (228,203)
───────── ─────────
Net Assets 773,939 744,853
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 773,839 744,753
───────── ─────────
Shareholders' Funds 773,939 744,853
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 28 May 2025
           
           
________________________________          
Mark Herron          
Director          
           



Herron Contractors Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 October 2024

   
1. General Information
 
Herron Contractors Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI604655. The registered office of the company is 18 Slievenaboley Road, Dromara, Dromore, Co. Down, BT25 2EN, Northern Ireland which is also the principal place of business of the company. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

These financial statements cover the individual entity for year end 31st October 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods & services supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 33% Straight Line
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are also recognised in profit or loss.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 7 7
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 November 2023 2,046,063 6,463 120,305 2,172,831
Additions 555,000 - 147,710 702,710
Disposals (157,800) - (57,505) (215,305)
  ───────── ───────── ───────── ─────────
At 31 October 2024 2,443,263 6,463 210,510 2,660,236
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2023 1,183,772 5,940 70,305 1,260,017
Charge for the financial year 202,178 294 25,323 227,795
On disposals (72,378) - (55,405) (127,783)
  ───────── ───────── ───────── ─────────
At 31 October 2024 1,313,572 6,234 40,223 1,360,029
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2024 1,129,691 229 170,287 1,300,207
  ═════════ ═════════ ═════════ ═════════
At 31 October 2023 862,291 523 50,000 912,814
  ═════════ ═════════ ═════════ ═════════
       
5. Pension commitments
 
The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. At the balance sheet date £1,200 (2023: £776) was due to the fund. This is included in 'Creditors: Amounts falling due within one year'.