Company Registration No. 02640282 (England and Wales)
Hermolis & Co Limited
Unaudited accounts
for the year ended 31 December 2020
Hermolis & Co Limited
Unaudited accounts
Contents
Hermolis & Co Limited
Company Information
for the year ended 31 December 2020
Directors
B Kreditor
I M Kreditor
M Lisser
S R Lisser
Company Number
02640282 (England and Wales)
Registered Office
Hallswelle House
1 Hallswelle Road
London
NW11 0DH
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Hermolis & Co Limited
Statement of financial position
as at 31 December 2020
Tangible assets
54,730
60,812
Inventories
316,470
485,639
Debtors
1,574,175
1,863,736
Cash at bank and in hand
257,445
262,531
Creditors: amounts falling due within one year
(1,343,667)
(1,860,130)
Net current assets
804,423
751,776
Total assets less current liabilities
859,153
812,588
Creditors: amounts falling due after more than one year
(50,000)
-
Provisions for liabilities
Deferred tax
(9,302)
(11,206)
Net assets
799,851
801,382
Called up share capital
10,000
10,000
Profit and loss account
789,851
791,382
Shareholders' funds
799,851
801,382
For the year ending 31 December 2020 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2021 and were signed on its behalf by
I M Kreditor
Director
Company Registration No. 02640282
Hermolis & Co Limited
Notes to the Accounts
for the year ended 31 December 2020
Hermolis & Co Limited is a private company, limited by shares, registered in England and Wales, registration number 02640282. The registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Fixtures & fittings
10% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Hermolis & Co Limited
Notes to the Accounts
for the year ended 31 December 2020
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2020
528,792
143,718
672,510
At 31 December 2020
528,792
143,718
672,510
At 1 January 2020
477,216
134,482
611,698
Charge for the year
5,158
924
6,082
At 31 December 2020
482,374
135,406
617,780
At 31 December 2020
46,418
8,312
54,730
At 31 December 2019
51,576
9,236
60,812
Finished goods
316,470
485,639
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
484,971
745,491
Accrued income and prepayments
24,571
16,616
Other debtors
1,021,580
1,072,916
7
Creditors: amounts falling due within one year
2020
2019
Trade creditors
1,136,714
1,549,868
Taxes and social security
26,057
58,516
Loans from directors
165,183
240,183
8
Creditors: amounts falling due after more than one year
2020
2019
9
Transactions with related parties
Included within other creditors is an amount of £165,183 (2019: £240,183) due to the directors of the company.
Hermolis & Co Limited
Notes to the Accounts
for the year ended 31 December 2020
10
Average number of employees
During the year the average number of employees was 93 (2019: 116).
