Company Registration No. 04891616 (England and Wales)
Hersheson Products Limited
Unaudited accounts
for the year ended 31 December 2020
Hersheson Products Limited
Unaudited accounts
Contents
Hersheson Products Limited
Company Information
for the year ended 31 December 2020
Directors
D Hersheson
R Hersheson
L Hersheson
Company Number
04891616 (England and Wales)
Registered Office
29 BERNERS STREET BERNERS STREET
LONDON
W1T 3LR
ENGLAND
Accountants
Multiply Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
Hersheson Products Limited
Statement of financial position
as at
31 December 2020
Intangible assets
10,091
8,060
Tangible assets
8,289
11,728
Inventories
187,256
178,406
Cash at bank and in hand
13,534
6,726
Creditors: amounts falling due within one year
(578,110)
(361,979)
Net current assets
318,681
191,904
Total assets less current liabilities
337,061
211,692
Creditors: amounts falling due after more than one year
(167,368)
-
Net assets
169,693
211,692
Called up share capital
150
150
Profit and loss account
169,543
211,542
Shareholders' funds
169,693
211,692
For the year ending 31 December 2020 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 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 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 of Directors and authorised for issue on 30 September 2021 and were signed on its behalf by
L Hersheson
Director
Company Registration No. 04891616
Hersheson Products Limited
Notes to the Accounts
for the year ended 31 December 2020
Hersheson Products Limited is a private company, limited by shares, registered in England and Wales, registration number 04891616. The registered office is 29 BERNERS STREET BERNERS STREET, LONDON, W1T 3LR, ENGLAND.
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 accounts are presented in £ sterling.
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:
Land & buildings
25% reducing balance
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is charged over 2 years on a straight line basis in respect of website development.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Hersheson Products Limited
Notes to the Accounts
for the year ended 31 December 2020
4
Intangible fixed assets
Other
At 31 December 2020
42,550
Charge for the year
10,974
At 31 December 2020
32,459
At 31 December 2020
10,091
At 31 December 2019
8,060
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2020
24,454
76,027
100,481
At 31 December 2020
24,454
76,027
100,481
At 1 January 2020
23,767
64,986
88,753
Charge for the year
172
3,267
3,439
At 31 December 2020
23,939
68,253
92,192
At 31 December 2020
515
7,774
8,289
At 31 December 2019
687
11,041
11,728
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
22,767
138,380
Accrued income and prepayments
6,725
25,220
Other debtors
666,509
205,151
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
3,633
61,097
Trade creditors
95,630
85,840
Taxes and social security
9,619
27,245
Other creditors
453,242
132,889
Hersheson Products Limited
Notes to the Accounts
for the year ended 31 December 2020
8
Creditors: amounts falling due after more than one year
2020
2019
9
Transactions with related parties
At the balance sheet date £132,863 (2019: £96,698) was due to related parties and £390,109 (2019: £200,101) was due from related parties.
10
Average number of employees
During the year the average number of employees was 3 (2019: 3).