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Company registration number: 11770592
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MARCH 2025
| HENNIC LIMITED
HENNIC LIMITED |  |
COMPANY INFORMATION
Director | M Hennessy
Registered number | 11770592
Registered office | 85 Great Portland Street
| First Floor
| London
| W1W 7LT
Accountants | Menzies LLP
| Chartered Accountants
| 4th Floor
| 95 Gresham Street
| London
| EC2V 7AB
HENNIC LIMITED |  |
CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 7
HENNIC LIMITED REGISTERED NUMBER:11770592 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 945 |  | 477
Investment property | 5 |  | 250,872 |  | 210,000
|  |  | 251,817 |  | 210,477
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 274 |  | 7,262 |
Cash at bank and in hand |  | 13,794 |  | 2,073 |
|  | 14,068 |  | 9,335 |
Creditors: amounts falling due within one year | 7 | (223,648) |  | (170,915) |
Net current liabilities |  |  | (209,580) |  | (161,580)
Total assets less current liabilities |  |  | 42,237 |  | 48,897
Creditors: amounts falling due after more than one year | 8 |  | (20,833) |  | (25,833)
Net assets |  |  | 21,404 |  | 23,064
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 21,403 |  | 23,063
|  |  | 21,404 |  | 23,064
Page 1
HENNIC LIMITED REGISTERED NUMBER:11770592 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
M Hennessy
Director
Date: 24 October 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
HENNIC LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Hennic Limited is a private company, limited by shares, registered in England and Wales, with company registration number 11770592. The company's registered office address is 85 Great Portland Street, First Floor, London, England, W1W 7LT. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the fact that there is a net current deficit of £209,580 (2024: £161,580) on the balance sheet. The Directors, having made appropriate enquiries, are satisfied that the company will receive continued support from the company's ultimate shareholders and the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated through consultancy fees and rent receivable and measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Page 3
HENNIC LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.8 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.9 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
| 2.10 | Dividends
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 at an annual general meeting. Page 4
HENNIC LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost or valuation |
| At 1 April 2024 | 3,716
| Additions | 917
| At 31 March 2025 | 4,633
| Depreciation |
| At 1 April 2024 | 3,239
| Charge for the year on owned assets | 449
| At 31 March 2025 | 3,688
| Net book value |
| At 31 March 2025 | 945
| At 31 March 2024 | 477
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 April 2024 | 210,000
| Additions at cost | 40,872
| At 31 March 2025 | 250,872
Page 5
HENNIC LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | - | 7,000
| Prepayments and accrued income | 274 | 262
|  | 274 | 7,262
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,000 | 5,000
| Corporation tax | - | 1,538
| Other creditors | 216,448 | 162,577
| Accruals and deferred income | 2,200 | 1,800
|  | 223,648 | 170,915
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 20,833 | 25,833
|  | 20,833 | 25,833
| The loan amount of £20,833, included within creditors, is guaranteed under the Bounce Back Loan Scheme (BBLs) by the UK Government.
Page 6
HENNIC LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 5,000 | 5,000
|  | 5,000 | 5,000
| Amounts falling due 1-2 years |  |
| Bank loans | 5,000 | 5,000
|  | 5,000 | 5,000
| Amounts falling due 2-5 years |  |
| Bank loans | 15,833 | 20,833
|  | 15,833 | 20,833
|  | 25,833 | 30,833
Page 7