Hero Laboratories Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11622921 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

15 OCTOBER 2018 TO 31 DECEMBER 2019

FOR

HERO LABORATORIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Zajac

H Neale

Earthworm Capital Nominees Limited

W West

REGISTERED OFFICE:

5 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

11622921 (England and Wales)

ACCOUNTANTS:

David Simon Limited

Chartered Certified Accountants

5 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Intangible assets

4

82,795

Tangible assets

5

8,723

Investments

6

1,000

92,518

CURRENT ASSETS

Debtors

7

297,200

Cash at bank and in hand

533,203

830,403

CREDITORS

Amounts falling due within one year

8

158,529

NET CURRENT ASSETS

671,874

TOTAL ASSETS LESS CURRENT LIABILITIES

764,392

CAPITAL AND RESERVES

Called up share capital

1,392

Share premium

1,790,778

Retained earnings

(1,027,778

)

SHAREHOLDERS' FUNDS

764,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors on 19 February 2020 and were signed on its behalf by:

K Zajac - Director

1.	STATUTORY INFORMATION

Hero Laboratories Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance

Sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life.

Intellectual Property are being amortised evenly over their estimated useful life.

Capital restructuring costs has been impaired fully during the period as in the opinion of the directors, this is not

recoverable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

227,820

At 31 December 2019

227,820

AMORTISATION

Impairments

145,025

At 31 December 2019

145,025

NET BOOK VALUE

At 31 December 2019

82,795

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

12,014

At 31 December 2019

12,014

DEPRECIATION

Charge for period

3,291

At 31 December 2019

3,291

NET BOOK VALUE

At 31 December 2019

8,723

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

1,000

At 31 December 2019

1,000

NET BOOK VALUE

At 31 December 2019

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

36,000

Other debtors

261,200

297,200

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

9,872

Taxation and social security

22,949

Other creditors

125,708

158,529

9.	CHANGE OF ACCOUNTING PERIOD

The company's accounting period end was extended by 2 months so as to end on 31 December. This years

figures are for 14 months.