Herriard Bio Power Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08453453 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

HERRIARD BIO POWER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S R Barris

D A Cartwright

REGISTERED OFFICE:

Summit House

12 Red Lion Square

Holborn

London

WC1R 4HQ

REGISTERED NUMBER:

08453453 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,365,796

2,838,580

CURRENT ASSETS

Stocks

123,296

142,313

Debtors

5

414,908

323,303

Cash at bank

128,352

179,926

666,556

645,542

CREDITORS

Amounts falling due within one year

6

1,313,675

459,580

NET CURRENT (LIABILITIES)/ASSETS

(647,119

)

185,962

TOTAL ASSETS LESS CURRENT LIABILITIES

1,718,677

3,024,542

CREDITORS

Amounts falling due after more than one year

7

(4,363,382

)

(4,754,807

)

PROVISIONS FOR LIABILITIES

(108,466

)

(254,383

)

NET LIABILITIES

(2,753,171

)

(1,984,648

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(2,753,172

)

(1,984,649

)

(2,753,171

)

(1,984,648

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 and authorised for issue on 28 April 2022 and were signed on its behalf by:

S R Barris - Director

1.	STATUTORY INFORMATION

Herriard Bio Power Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £2,753,171 (2019 - £1,984,648). The director has expressed their willingness to support the company as necessary and along with the forecasted future profitable trade the business is considered a going concern. The accounts and financial statements have therefore been prepared on a going concern basis.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets

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

Long leasehold

-

4% on cost

Plant & machinery

-

20% on cost, 10% on cost and 4% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 year was 6 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Long

Plant &

Fixtures

leasehold

machinery

& fittings

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

1,757,561

4,126,699

9,585

5,893,845

DEPRECIATION

At 1 January 2020

418,762

2,626,918

9,585

3,055,265

Charge for year

70,302

402,482

-

472,784

At 31 December 2020

489,064

3,029,400

9,585

3,528,049

NET BOOK VALUE

At 31 December 2020

1,268,497

1,097,299

-

2,365,796

At 31 December 2019

1,338,799

1,499,781

-

2,838,580

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

151,184

200,555

Other debtors

263,724

122,748

414,908

323,303

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

133,755

81,333

Amounts owed to group undertakings

70,914

16,347

Taxation and social security

736,410

4,512

Other creditors

372,596

357,388

1,313,675

459,580

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

4,363,382

4,754,807

8.	SECURED DEBTS

The assets of the company are secured by fixed and floating charges.

9.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.