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Registered Number: 00244412
England and Wales

 

 

 

HERBERT & WARD LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

Herbert & Ward Limited
Contents Page
For the year ended 31 December 2024
Director N W Miller
Registered Number 00244412
Registered Office 3 Southern House Anthony's Way
Medway City Estate
Rochester
Kent
ME2 4DN
Accountants Cocke Vellacott & Hill
Unit 15 City Business Centre
Lower Road
London
SE16 2XB
1
Director's report and financial statements
The director presents report and unaudited accounts for the year ended 31 December 2024.
Principal activities
The principal activity of the company during the financial year was sales of tea and coffee and a range of related products. The director was satisfied with the performance of this trade during the year and notes that the loss arising in the year was attributable to the increased depreciation charge arising from recent capital investment.
Audit exemption
Herbert & Ward Limited has taken advantage of the exemption under Section 477 of the Companies Act 2006 and these financial statements are therefore unaudited.
Director
The director who served the company throughout the year was as follows:
NW Miller
Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions
Small Companies' Regime
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the board.


----------------------------------
N W Miller
Director

Date approved: 30 September 2025
2
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 981,017    971,117 
981,017    971,117 
Current assets      
Stocks 4 120,282    117,500 
Debtors: amounts falling due within one year 5 201,368    220,554 
Cash at bank and in hand 16,686    (11,000)
338,336    327,054 
Creditors: amount falling due within one year 6 (838,292)   (863,241)
Net current assets (499,956)   (536,187)
 
Total assets less current liabilities 481,061    434,930 
Provisions for liabilities 7 (24,000)   (24,000)
Net assets 457,061    410,930 
 

Capital and reserves 		     
Called up share capital 8 3,000    3,000 
Profit and loss account 454,061    407,930 
Shareholders' funds 457,061    410,930 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 September 2025 and were signed by:


-------------------------------
N W Miller
Director
3
General Information
Herbert & Ward Limited is a private company, limited by shares, domiciled in England and Wales, registration number 00244412,registration address 3 Southern House Anthony's Way, Medway City Estate, Rochester, Kent, ME2 4DN.

The presentation currency is £ sterling which is the company's functional currency. 
1.

Accounting policies

Significant accounting policies
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS 102) and the Companies Act 2006. The accounts have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax.

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past years and it is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profits. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period
Tangible fixed assets
Tangible fixed assets, other than freehold land and buildings, are stated at cost or valuation less depreciation and any provision for impairment. The director considers that the cost of the land and buildings represents the fair value of the building in the current market. Non-depreciation is in contravention of FRS 102. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings nil Reducing Balance
Plant and Machinery 5 - 25% Reducing Balance
Motor Vehicles 10 - 25% Reducing Balance
Fixtures and Fittings 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as equity and are included in share capital.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Improvements to property   Total
  £   £   £   £   £   £
At 01 January 2024 361,615    376,964    439,097    126,943    174,825    1,479,444 
Additions -    60,087    -    215    54,082    114,384 
Disposals -    -    -    -    -    - 
At 31 December 2024 361,615    437,051    439,097    127,158    228,907    1,593,828 
Depreciation
At 01 January 2024 10,000    215,067    238,199    43,708    -    506,974 
Charge for year -    42,022    62,294    1,521    -    105,837 
On disposals -    -    -    -    -    - 
At 31 December 2024 10,000    257,089    300,493    45,229    -    612,811 
Net book values
Closing balance as at 31 December 2024 351,615    179,962    138,604    81,929    228,907    981,017 
Opening balance as at 01 January 2024 351,615    161,897    200,898    81,882    174,825    971,117 

Included in fixed assets above is a net carrying amount of £94,587 (2023: £94,447) in respects of assets leased out to third parties.

Barclays Bank plc has a fixed and floating charge over the company's assets.

4.

Stocks

2024
£		   2023
£
Stocks 120,282    117,500 
120,282    117,500 

5.

Debtors: amounts falling due within one year

2024
£		   2023
£
Trade Debtors 136,031    152,437 
Amount Owed by Group Undertakings 141    86 
Prepayments & Accrued Income 10,121    10,121 
Other Debtors 24,735    24,735 
Corporation Tax 21,219    21,219 
VAT 9,121    11,956 
201,368    220,554 

6.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 120,981    121,376 
Bank Loans & Overdrafts 74,382    24,598 
Amounts Owed to Group Undertakings 626,482    626,482 
PAYE & Social Security 2,247    2,247 
Accrued Expenses 5,499    5,497 
Directors' Current Accounts 8,701    83,041 
838,292    863,241 

7.

Provisions for liabilities

2024
£		   2023
£
Pension Provisions 24,000    24,000 
24,000    24,000 

8.

Share Capital

Allotted, called up and fully paid
2024
£		   2023
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
2,000 Preference shares of £1.00 each 2,000    2,000 
3,000    3,000 

4