Hereford Industrial Supply Company Ltd

(Registration number: 01123765)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Tangible assets	5	47,170	48,024
Investments	6	34,000	34,000
		81,170	82,024
Current assets
Stocks	7	1,265,072	1,159,819
Debtors	8	376,770	382,761
Cash at bank and in hand		127,539	230,858
		1,769,381	1,773,438
Creditors: Amounts falling due within one year	9	(618,359)	(636,745)
Net current assets		1,151,022	1,136,693
Total assets less current liabilities		1,232,192	1,218,717
Creditors: Amounts falling due after more than one year	9	(16,666)	(66,667)
Provisions for liabilities		(6,625)	(7,712)
Net assets		1,208,901	1,144,338
Capital and reserves
Called up share capital	10	8,578	8,578
Retained earnings		1,200,323	1,135,760
Shareholders' funds		1,208,901	1,144,338

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Hereford Industrial Supply Company Ltd

(Registration number: 01123765)
Balance Sheet as at 31 March 2025
(continued)

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2025
 

......................................... Mr Mark Hyde Director

Hereford Industrial Supply Company Ltd

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

1	General information

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

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

These financial statements were authorised for issue by the director on 31 October 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

The financial statements have been prepared in accordance with FRS 102, section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

The 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

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

2	Accounting policies (continued)

The company's liability for current tax 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 profit. 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 substantially enacted by the end of the reporting period.

Depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:

Asset class	Depreciation method and rate
Freehold buildings	2% of cost per annum
Motor vehicles	25% of written down value per annum
Plant and machinery	25% of cost per annum
Fixtures and fittings	15% of written down value per annum
Computer equipment	33% of cost per annum

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

2	Accounting policies (continued)

Intangible assets

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Software 33% of cost per annum

Amortisation

Amortisation is provided on purchased goodwill in equal instalments, commencing in the year of acquisition at rates estimated to write off its cost over its expected useful economic life which in the opinion of the directors is 3 years.

Asset class	Amortisation method and rate
Software	33% of cost per annum

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realiasable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs.The amount of any reversal of any write-down of stocks is recognised ias a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

The company provides a defined contribution pension scheme, the assets of which are held separately from those of the company in an independently administered fund. The pension charge represents the amoynt payable by the company to the fund in respect of the year.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 21 (2024 - 22).

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

4	Intangible assets

	Contractual customer relationships  £	Total £
Cost or valuation
At 1 April 2024	49,126	49,126
At 31 March 2025	49,126	49,126
Amortisation
At 1 April 2024	49,126	49,126
At 31 March 2025	49,126	49,126
Carrying amount
At 31 March 2025	-	-

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	348,851	68,050	416,901
Additions	15,208	-	15,208
At 31 March 2025	364,059	68,050	432,109
Depreciation
At 1 April 2024	334,501	34,376	368,877
Charge for the year	7,643	8,419	16,062
At 31 March 2025	342,144	42,795	384,939
Carrying amount
At 31 March 2025	21,915	25,255	47,170
At 31 March 2024	14,350	33,674	48,024

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
 

Hereford Industrial Supply Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
(continued)

6	Investments

	2025 £	2024 £
Investments in subsidiaries	34,000	34,000