Company Registration No. 09526222 (England and Wales)
Hercules Propellers Limited
Unaudited accounts
for the year ended 30 June 2021
Hercules Propellers Limited
Unaudited accounts
Contents
Hercules Propellers Limited
Company Information
for the year ended 30 June 2021
Company Number
09526222 (England and Wales)
Registered Office
Canal Iron Works
Hope Mill Lane
London Road
Stroud
GL5 2SH
Accountants
Regulatory Accounting Ltd
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
Hercules Propellers Limited
Statement of financial position
as at
30 June 2021
Tangible assets
25,253
24,640
Cash at bank and in hand
27,563
69,036
Creditors: amounts falling due within one year
(82,397)
(85,334)
Net current assets/(liabilities)
20,966
(7,065)
Total assets less current liabilities
46,219
17,575
Creditors: amounts falling due after more than one year
(44,462)
(50,000)
Net assets/(liabilities)
1,757
(32,425)
Called up share capital
1
1
Profit and loss account
1,756
(32,426)
Shareholders' funds
1,757
(32,425)
For the year ending 30 June 2021 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 director acknowledges his 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 and authorised for issue on 30 March 2022 and were signed on its behalf by
Mr Rupert Wasey
Director
Company Registration No. 09526222
Hercules Propellers Limited
Notes to the Accounts
for the year ended 30 June 2021
Hercules Propellers Limited is a private company, limited by shares, registered in England and Wales, registration number 09526222. The registered office is Canal Iron Works, Hope Mill Lane, London Road, Stroud, GL5 2SH.
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 presentational currency of these financial statements is pound sterling and rounded to the nearest whole number.
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
20% Reducing balance
Fixtures & fittings
20% Straight Line
Computer equipment
15% Straight Line
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.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2020
39,840
7,043
6,710
53,593
Additions
5,594
-
2,405
7,999
At 30 June 2021
45,434
7,043
9,115
61,592
At 1 July 2020
17,349
6,333
5,271
28,953
Charge for the year
5,617
711
1,058
7,386
At 30 June 2021
22,966
7,044
6,329
36,339
At 30 June 2021
22,468
(1)
2,786
25,253
At 30 June 2020
22,491
710
1,439
24,640
Hercules Propellers Limited
Notes to the Accounts
for the year ended 30 June 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
70,026
2,485
Accrued income and prepayments
5,774
5,748
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
5,538
-
Trade creditors
12,668
20,559
Amounts owed to group undertakings and other participating interests
46,776
46,127
Taxes and social security
7,850
(131)
Other creditors
758
2,118
Loans from directors
(9,227)
15,661
7
Creditors: amounts falling due after more than one year
2021
2020
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Net Transactions
(15,661)
55,202
30,312
9,229
(15,661)
55,202
30,312
9,229
The director's loan is charged interest at the HMRC standard rate and is repayable on demand.
9
Average number of employees
During the year the average number of employees was 5 (2020: 4).