HERMAN TRADING LIMITED

HERMAN TRADING LIMITED

HERMAN TRADING LIMITED - Company Information

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HERMAN TRADING LIMITED

Company Registration Number:
02602899 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2021

Period of accounts

Start date: 01 June 2020

End date: 31 May 2021

HERMAN TRADING LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2021

Balance sheet
Notes

HERMAN TRADING LIMITED

Balance sheet

As at 31 May 2021


Notes
2021
2020


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 8,119 766,825
Investments:   0 0
Total fixed assets: 8,119 766,825
Current assets
Stocks: 150,000 150,000
Debtors: 4 238,760 282,370
Cash at bank and in hand: 172,927 351,344
Investments:   0 0
Total current assets: 561,687 783,714
Creditors: amounts falling due within one year:   (310,084) (373,720)
Net current assets (liabilities): 251,603 409,994
Total assets less current liabilities: 259,722 1,176,819
Creditors: amounts falling due after more than one year:   (45,000) (222,802)
Provision for liabilities: 0 0
Total net assets (liabilities): 214,722 954,017
Capital and reserves
Called up share capital: 10 10
Share premium account: 59,992 59,992
Revaluation reserve:50561,583
Other reserves: 0 0
Profit and loss account: 154,720 332,432
Shareholders funds: 214,722 954,017

The notes form part of these financial statements

HERMAN TRADING LIMITED

Balance sheet statements

For the year ending 31 May 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 August 2021
and signed on behalf of the board by:

Name: K Chouhan
Status: Director

The notes form part of these financial statements

HERMAN TRADING LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

1. Accounting policies

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

Turnover policy

Turnover comprises of revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.Depreciation is provided on the following basis: Plant and machinery 25 reducing balanceThe assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Other accounting policies

StocksStocks are stated at the lower of cost and net realisable value.DebtorsShort term debtors are measured at transaction price, less any impairment.Cash and cash equivalentsCash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.CreditorsShort term creditors are measured at the transaction price.DividendsEquity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

HERMAN TRADING LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

2. Employees

2021 2020
Average number of employees during the period 9 10

HERMAN TRADING LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

3. Tangible Assets

Total
Cost £
At 01 June 2020 1,149,402
Disposals (756,000)
At 31 May 2021 393,402
Depreciation
At 01 June 2020 382,577
Charge for year 2,706
At 31 May 2021 385,283
Net book value
At 31 May 2021 8,119
At 31 May 2020 766,825

HERMAN TRADING LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 0 0

HERMAN TRADING LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2021

5. Revaluation reserve

2021
£
Balance at 01 June 2020 561,583
Surplus or deficit after revaluation (561,583)
Balance at 31 May 2021 0