ACCOUNTS - Final Accounts

Capital commitments

At 31 December 2021 the Company had capital commitments as follows:

HERU HOLDINGS LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.00false2021-01-01falseNo description of principal activitytrue 12352192 2021-01-01 2021-12-31 12352192 2019-12-05 2020-12-31 12352192 2021-12-31 12352192 2020-12-31 12352192 c:Director1 2021-01-01 2021-12-31 12352192 d:CurrentFinancialInstruments 2021-12-31 12352192 d:CurrentFinancialInstruments 2020-12-31 12352192 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12352192 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 12352192 d:ShareCapital 2021-12-31 12352192 d:ShareCapital 2020-12-31 12352192 d:RetainedEarningsAccumulatedLosses 2021-12-31 12352192 d:RetainedEarningsAccumulatedLosses 2020-12-31 12352192 c:FRS102 2021-01-01 2021-12-31 12352192 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 12352192 c:FullAccounts 2021-01-01 2021-12-31 12352192 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 12352192

HERU HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

HERU HOLDINGS LIMITED

REGISTERED NUMBER: 12352192

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	32,590		15,000
		32,590		15,000
Creditors: amounts falling due within one year	5	(36,433)		(15,650)
Net current liabilities			(3,843)		(650)
Total assets less current liabilities			(3,843)		(650)

Net liabilities			(3,843)		(650)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(3,943)	(750)
	(3,843)	(650)

The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 on 31 October 2022.

Keith Donald Wray

Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

HERU HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

The company is a private company limited by shares and is incorporated in England and Wales, registration number 12352192. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:

Page 2

HERU HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.5

Financial instruments (continued)

∙at fair value with changes recognised in the Profit and loss account if the shares are publicly traded or their fair value can otherwise be measured reliably;

∙at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2020 - £NIL).

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	3,090	-
Other debtors	29,500	15,000
	32,590	15,000

Page 3

HERU HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	5	-
Other creditors	35,678	14,900
Accruals and deferred income	750	750
	36,433	15,650

	Contracted for but not provided in these financial statements	256,500	271,000
		256,500	271,000

7.	Related party transactions
	At the year end there was an amount due to the director of £35,678 (2021: £14,900).

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