Accounts Submission

HERRIARD RECOVERIES LTD - Company Information

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Company Registration Number:
05715580 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2021

Period of accounts

Start date: 01 October 2020

End date: 30 September 2021

Contents of the Financial Statements

for the Period Ended 30 September 2021


Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

Directors' Report Period Ended 30 September 2021

The directors present their report with the financial statements of the company for the period ended 30 September 2021

Principal Activities

The principle activity of the Company during the period was the sale of management services to businesses

Directors

The directors shown below have held office during the whole of the period from 01 October 2020 to 30 September 2021
Nicolas W Smale

This report was approved by the board of directors on 29 June 2022
And Signed On Behalf Of The Board By:

Name: Nicolas W Smale
Status: Director

Balance sheet

As at 30 September 2021

	Notes	2021 £	2020 £
Fixed assets
Tangible assets:	4	607,500	0
Total fixed assets:		607,500	0
Current assets
Stocks:		0	0
Debtors:	5	968,771	944,295
Cash at bank and in hand:		15,822	10,066
Total current assets:		984,593	954,361
Creditors: amounts falling due within one year:	6	( 560,241 )	( 614,036 )
Net current assets (liabilities):		424,352	340,325
Total assets less current liabilities:		1,031,852	340,325
Creditors: amounts falling due after more than one year:	7	( 750,000 )	( 0 )
Provision for liabilities:		( 0 )	( 0 )
Accruals and deferred income:		( 0 )	( 0 )
Total net assets (liabilities):		281,852	340,325

The notes form part of these financial statements

Balance sheet continued

As at 30 September 2021

	2021 £	2020 £
Capital and reserves
Called up share capital:	256,384	256,384
Profit and loss account:	25,468	83,941
Shareholders funds:	281,852	340,325

For the year ending 30 September 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 June 2022
And Signed On Behalf Of The Board By:

Name: Nicolas W Smale
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 30 September 2021

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover derives from the provision of management services. The costs incurred on behalf of customers are netted off against income received. The turnover in the accounts represents the fees charged for these services and is recognised by reference to the stage of completion of the transaction at the balance sheet date. Turnover is recognised exclusive of VAT.

Tangible fixed assets depreciation policy

Depreciation is charged on assets in use by the company. No depreciation is charged in the current year. The charge is estimated to spread the cost over the useful life of the asset.

Notes to the Financial Statements

for the Period Ended 30 September 2021

2. Employees

	2021	2020
Average number of employees during the period	0	0

Notes to the Financial Statements

for the Period Ended 30 September 2021

3. Off balance sheet disclosure

No

Notes to the Financial Statements

for the Period Ended 30 September 2021

4. Tangible assets

	Plant & machinery	Total
Cost	£	£
At 01 October 2020	0	0
Additions	607,500	607,500
Disposals	( 0 )	( 0 )
Revaluations	0	0
Transfers	0	0
At 30 September 2021	607,500	607,500
Depreciation
At 01 October 2020	0	0
Charge for year	0	0
On disposals	( 0 )	( 0 )
Other adjustments	0	0
At 30 September 2021	0	0
Net book value
At 30 September 2021	607,500	607,500
At 30 September 2020	0	0

The Company is investing in software and data systems.

Notes to the Financial Statements

for the Period Ended 30 September 2021

5. Debtors

	2021 £	2020 £
Other debtors	968,771	944,295
Total	968,771	944,295

Notes to the Financial Statements

for the Period Ended 30 September 2021

6.Creditors: amounts falling due within one year note

	2021 £	2020 £
Accruals and deferred income	568	568
Other creditors	559,673	613,468
Total	560,241	614,036

Notes to the Financial Statements

for the Period Ended 30 September 2021

7.Creditors: amounts falling due after more than one year

	2021 £	2020 £
Bank loans and overdrafts		0
Other creditors	750,000	0
Total	750,000	0

Notes to the Financial Statements

for the Period Ended 30 September 2021

8.1.Related party disclosures

Name of related party:	Updraft Ltd
Description of relationship:
Mr Smale is the majority owner of Herriard Recoveries Ltd and the sole owner of Updraft Ltd.
Description of the transaction:
Money loaned by the Company to finance the development of software - governed by a loan agreement
Balance at 01 October 2020	344,412
Balance at 30 September 2021	377,887

Name of related party:	Phoenicks Ltd
Description of relationship:
Phoenicks Ltd is majority owned by Mr Smale.
Description of the transaction:
Transactions during the period have been movements of cash as Phoenicks Ltd uses Herriard's bank account.
Balance at 01 October 2020	340,310
Balance at 30 September 2021	296,515

Notes to the Financial Statements

for the Period Ended 30 September 2021

8.2.Related party disclosures

Name of related party:	Watershore Ltd and Hazel Bowles
Description of relationship:
Watershore Ltd is wholly owned by Hazel Bowles and has acquired 40% of the share capital of the Company
Description of the transaction:
Loans made to Herriard
Balance at 01 October 2020	47,000
Balance at 30 September 2021	47,000

Name of related party:	Jon Bowles
Description of relationship:
Jon (Jonathan) Bowles is a 40% shareholder of Phoenicks Ltd. He is also the husband of Hazel Bowles. Since the Balance Sheet date, the Company has started legal proceedings against Jon Bowles for a sum in excess of £300k which includes interest and charges. This note has been included in the light of a High Court Judge's remarks, made in a different case where he appreciated that Mrs Hazel Bowles was a business woman in her own right, however the business relationship between Mr and Mrs Bowles was "murky".
Description of the transaction:
Loans received from Herriard
Balance at 01 October 2020	128,000
Balance at 30 September 2021	128,000

Director:		Nicolas W Smale


Registered office:		Pepperbox Herriard Basingstoke Hampshire RG25 2PQ


Company Registration Number:		05715580 (England and Wales)

Accounts Submission