Herring Developments Limited 00775796 false 2024-06-01 2025-05-31 2025-05-31 The principal activity of the company is property owning and investment Digita Accounts Production Advanced 6.30.9574.0 true 00775796 2024-06-01 2025-05-31 00775796 2025-05-31 00775796 bus:Director1 1 2025-05-31 00775796 bus:OrdinaryShareClass1 2025-05-31 00775796 core:CurrentFinancialInstruments 2025-05-31 00775796 core:CurrentFinancialInstruments core:WithinOneYear 2025-05-31 00775796 bus:SmallEntities 2024-06-01 2025-05-31 00775796 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 00775796 bus:FilletedAccounts 2024-06-01 2025-05-31 00775796 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 00775796 bus:RegisteredOffice 2024-06-01 2025-05-31 00775796 bus:Director1 2024-06-01 2025-05-31 00775796 bus:Director1 1 2024-06-01 2025-05-31 00775796 bus:Director2 2024-06-01 2025-05-31 00775796 bus:OrdinaryShareClass1 2024-06-01 2025-05-31 00775796 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 00775796 countries:England 2024-06-01 2025-05-31 00775796 2024-05-31 00775796 bus:Director1 1 2024-05-31 00775796 2023-06-01 2024-05-31 00775796 2024-05-31 00775796 bus:Director1 1 2024-05-31 00775796 bus:OrdinaryShareClass1 2024-05-31 00775796 core:CurrentFinancialInstruments 2024-05-31 00775796 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 00775796 bus:Director1 1 2023-06-01 2024-05-31 00775796 bus:Director1 1 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00775796

Herring Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2025

 

Herring Developments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Herring Developments Limited

Company Information

Directors

Mr Timothy Gadsby

Mrs Claire Gadsby

Registered office

Hallam Street
Guiseley
Leeds
West Yorkshire
LS20 8AG

 

Herring Developments Limited

(Registration number: 00775796)
Balance Sheet as at 31 May 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

4

731,362

731,362

Current assets

 

Debtors

5

145,738

136,764

Cash at bank and in hand

 

37,072

6,376

 

182,810

143,140

Creditors: Amounts falling due within one year

6

(171,822)

(178,172)

Net current assets/(liabilities)

 

10,988

(35,032)

Net assets

 

742,350

696,330

Capital and reserves

 

Called up share capital

7

59,400

59,400

Capital redemption reserve

39,600

39,600

Revaluation reserve

488,906

488,906

Retained earnings

154,444

108,424

Shareholders' funds

 

742,350

696,330

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 August 2025 and signed on its behalf by:
 

.........................................
Mr Timothy Gadsby
Director

 

Herring Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Hallam Street
Guiseley
Leeds
West Yorkshire
LS20 8AG

These financial statements were authorised for issue by the Board on 4 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of rents eceivable in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Herring Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4

Investment properties

2025
£

At 1 June

731,362

At 31 May

731,362

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2025
£

2024
£

Prepayments

2,297

13,000

Other debtors

143,441

123,764

 

145,738

136,764

 

Herring Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

166,038

176,462

Taxation and social security

 

2,744

-

Accruals and deferred income

 

1,890

1,710

Other creditors

 

1,150

-

 

171,822

178,172

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

59,400

59,400

59,400

59,400

       

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

166,038

176,462

9

Related party transactions

Transactions with directors

2025

At 1 June 2024
£

Advances to director
£

At 31 May 2025
£

Mr Timothy Gadsby

Directors loan account

176,462

(11,524)

164,938

 

Herring Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

2024

At 1 June 2023
£

Advances to director
£

At 31 May 2024
£

Mr Timothy Gadsby

Directors loan account

183,601

(7,139)

176,462