Herc Ltd. - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05698135 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 28 February 2014

for

Herc Ltd.

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

153

-

Tangible assets

3

10,340

11,647

10,493

11,647

CURRENT ASSETS

Stocks

6,847

34,896

Debtors

427

1,107

Cash at bank

1,114

4,824

8,388

40,827

CREDITORS

Amounts falling due within one year

104,986

143,771

NET CURRENT LIABILITIES

(96,598

)

(102,944

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(86,105

)

(91,297

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(86,205

)

(91,397

)

SHAREHOLDERS' FUNDS

(86,105

)

(91,297

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25 November 2014 and were signed on its behalf by:

Mr A D Kumar - Director

Mrs N Kumar - Director

Dr A Kumar - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Patent

Patent is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% - 50% on reducing balance and 10% 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.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

170

At 28 February 2014

170

AMORTISATION

Amortisation for year

17

At 28 February 2014

17

NET BOOK VALUE

At 28 February 2014

153

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2013

21,626

Additions

2,209

At 28 February 2014

23,835

DEPRECIATION

At 1 March 2013

9,979

Charge for year

3,516

At 28 February 2014

13,495

NET BOOK VALUE

At 28 February 2014

10,340

At 28 February 2013

11,647

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end and included within other creditors is an amount due to the director, Mrs N Kumar, amounting to

£90,623 (2013- £128,999).

This loan is interest free and payable on demand.

6.	GOING CONCERN

In determining the appropriate basis of preparation of the financial statements, the directors are required to

consider whether the Company can continue in operational existence for at least the next 12 months.

During the year the company made a net profit of £5,192 and, at the balance sheet date, the company's total

liabilities exceeded its total assets by £86,105.

Having made requisite enquires, the directors are confident that the company has adequate resources to continue

its operations for the foreseeable future. Part of the company's liabilities are monies due to the directors of the

company, amounting to £90,623. They have confirmed that they will not call on these outstanding monies and

will continue their support of the business.

Following a detailed and comprehensive review of the business, the Directors have no reason or intention to

liquidate the company or cease its trading activities over the foreseeable future.

In conclusion, and considering the areas described above, the directors are confident that the Company has

adequate resources to continue in operational existence for the foreseeable future. For these reasons, the

directors consider it appropriate they continue to prepare the financial statements on a going concern basis.

These financial statements do not include any adjustments that would result from the going concern basis of

preparation being inappropriate.