Abbreviated Company Accounts - HERRIARD RECOVERIES LTD

HERRIARD RECOVERIES LTD - Company Information

05715580 HERRIARD RECOVERIES LTD 2016-09-30 false 2015-10-01 2016-09-30 true 05715580 2015-10-01 2016-09-30 05715580 2016-09-30 05715580 2015-09-30 05715580 uk-gaap-cd-bus:Director1 2015-10-01 2016-09-30 05715580 uk-gaap-cd-bus:Director2 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 iso4217:GBP shares

Registered Number 05715580

HERRIARD RECOVERIES LTD

Abbreviated Accounts

30 September 2016

HERRIARD RECOVERIES LTD Registered Number 05715580

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Current assets
Debtors		415,235	245,814
Investments		257,500	210,500
Cash at bank and in hand		303	94,361
		673,038	550,675
Creditors: amounts falling due within one year		(666,687)	(544,297)
Net current assets (liabilities)		6,351	6,378
Total assets less current liabilities		6,351	6,378
Total net assets (liabilities)		6,351	6,378
Capital and reserves
Called up share capital	2	1	1
Other reserves		6,377	7,773
Profit and loss account		(27)	(1,396)
Shareholders' funds		6,351	6,378

For the year ending 30 September 2016 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 June 2017

And signed on their behalf by:
Nicolas Smale, Director

HERRIARD RECOVERIES LTD Registered Number 05715580

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Valuation information and policy
Investment valuation basis: investments have been valued at cost and the Director confirms that at the time of signing, no impairment provision is necessary

Other accounting policies
Going Concern Basis: Debtors include sums loaned to two former business associates against one of which legal action has been taken to recover the debt. The Director is currently confident all monies will be recovered in due course. Debtors also includes monies advanced to a related company for the development of software which is expected to start produce revenue during 2017.The Director is currently confident all monies will be recovered in due course. The principal creditor is the holding company which has indicated it will not be demanding repayment until funds re available. On the strength of these indications and beliefs, the Director considers it appropriate to prepare the accounts on a going concern basis.

Ultimate Parent Company and intercompany balances:
The ultimate parent company is Phoenicks Limited (formerly Nickleby & Co Limited) a company registered in England and Wales.
At the balance sheet date Herriard Recoveries Limited (formerly Nickleby FM Ltd) owed Phoenicks Limited (formerly Nickleby & Co Limited) £433,351 (2015 £542,213) which is included within creditors.

2Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
1 Ordinary shares of £1 each	1	1