1.
General Information
Henbarty Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10465172
. The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3.
Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
2.4.
Investment Properties
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Henbarty Limited
Notes to the Financial Statements (continued)
For the Period 31 May 2024 to 30 April 2025
2.7.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
3.
Average Number of Employees
Average number of employees, including directors, during the period was: 2 (2024: 2)
4.
Tangible Assets
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost or Valuation | |
| As at 31 May 2024 |
|
| Additions |
|
| Revaluation |
|
| As at 30 April 2025 |
|
| Net Book Value | |
| As at 30 April 2025 |
|
| As at 31 May 2024 |
|
The investment properties were valued on an open market basis at fair value by the director, Mr D T Farrell on 30 April 2025 at £1,102,900.
If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost | 367,352 |
5.
Debtors
| 30 April 2025 | 30 May 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors |
|
|
|
| Deferred tax current asset | - | 2,569 | |
| Directors' loan accounts |
|
|
|
|
|
|
||
Henbarty Limited
Notes to the Financial Statements (continued)
For the Period 31 May 2024 to 30 April 2025
6.
Creditors: Amounts Falling Due Within One Year
| 30 April 2025 | 30 May 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other creditors |
|
|
|
| Deposits |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
The amount of £160,360 payable to The Investment Management Company Limited included within other creditors is secured against the assets to which it relates.
7.
Creditors: Amounts Falling Due After More Than One Year
| 30 April 2025 | 30 May 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
9.
Directors Advances, Credits and Guarantees
The director withdrew amounts totalling £40,939 and introduced amounts totalling £51,135. At the balance sheet date the amount owed to the company totalled £74,774 (2024: £84,969). All advances are interest free and repayable on demand.
10.
Reserves
| Profit and Loss Account | |
|---|---|
| £ | |
| As at 31 May 2024 |
( |
| Profit for the period and total comprehensive income |
|
| As at 30 April 2025 |
|
The profit and loss reserve account records retained earnings and accumulated losses, including the revaluation reserve which records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. The profit and loss reserve account includes both distributable and non distributable as follows:
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Distributable profit and loss reserves
|
(44,858)
|
(43,271)
|
|
|
Non-distributable profit and loss reserves
|
551,661
|
-
|
|
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
||
|
506,803
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
(43,271)
|
Henbarty Limited
Notes to the Financial Statements (continued)
For the Period 31 May 2024 to 30 April 2025
11.
Related Party Transactions
The following related party transactions were undertaken during the year:
During the period directors introduced capital of £51,135 (2024: £4,284) and received advances of £40,939 (2024: £30,794). At the balance sheet date the directors owed the company £74,774 (2024: £84,969).
Dividends were paid to directors and shareholders in respect of their shareholdings totalling £Nil (2024: £Nil).
A company under common control provided advances of £26,848 (2024: £3,339) and repayments of £Nil (2024: £Nil) were made during the period. At the balance sheet date the amounts owed to this connected company totalled £114,934 (2024: £88,086).
A company under common control provided advances of £47,160 and repayments of £Nil (2024: £Nil) were made during the period. At the balance sheet date the amounts owed to this connected company totalled £94,107 (2024: £46,947).
A company under common control provided advances of £51,000 (2024: £Nil) during the period. At the balance sheet date the amounts owed to this connected company totalled £51,000 (2024: £Nil).
A company under common control provided advances of £49,149 and repayments were made of £Nil (2024: £26,870) during the period. At the balance sheet date the amounts owed to this connected company totalled £22,279 (2024: amounts owed from the connected company totalled £26,870).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
12.
Going concern
The company is able to meet its day to day working capital requirements through the support of the directors and the company's creditors. Therefore the directors consider it appropriate to prepare financial statements on the going concern basis.