1 July 2021 false No description of principal activity Taxfiler 2022.8.3 SC237615business:PrivateLimitedCompanyLtd2021-07-012022-06-30 SC2376152021-06-30 SC2376152021-07-012022-06-30 SC237615business:AuditExempt-NoAccountantsReport2021-07-012022-06-30 SC237615business:FullAccounts2021-07-012022-06-30 SC2376152022-06-30 SC237615business:Director12021-07-012022-06-30 SC237615business:Director22021-07-012022-06-30 SC237615business:CompanySecretary12021-07-012022-06-30 SC237615business:RegisteredOffice2021-07-012022-06-30 SC2376152021-06-30 SC237615core:WithinOneYear2022-06-30 SC237615core:WithinOneYear2021-06-30 SC237615core:ShareCapital2022-06-30 SC237615core:ShareCapital2021-06-30 SC237615core:RetainedEarningsAccumulatedLosses2022-06-30 SC237615core:RetainedEarningsAccumulatedLosses2021-06-30 SC237615business:SmallEntities2021-07-012022-06-30 SC237615countries:Scotland2021-07-012022-06-30 SC237615core:PlantMachinery2021-07-012022-06-30 SC237615core:ComputerEquipment2021-07-012022-06-30 SC237615core:PlantMachinery2021-06-30 SC237615core:ComputerEquipment2021-06-30 SC237615core:PlantMachinery2022-06-30 SC237615core:ComputerEquipment2022-06-30 SC237615business:OrdinaryShareClass12021-07-012022-06-30 SC237615business:OrdinaryShareClass12020-07-012021-06-30 SC237615business:OrdinaryShareClass22021-07-012022-06-30 SC237615business:OrdinaryShareClass22020-07-012021-06-30 SC237615business:OrdinaryShareClass32021-07-012022-06-30 SC237615business:OrdinaryShareClass32020-07-012021-06-30 SC237615business:AllOrdinaryShares2021-07-012022-06-30 SC237615business:AllOrdinaryShares2020-07-012021-06-30 SC2376152020-07-012021-06-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. SC237615 (Scotland)
Heritable Limited Unaudited accounts for the year ended 30 June 2022
Heritable Limited Unaudited accounts Contents
Page
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Heritable Limited Company Information for the year ended 30 June 2022
Directors
Catherine Isobel Edith McCallum Colin Fraser McCallum
Secretary
Catherine Isobel Edith McCallum
Company Number
SC237615 (Scotland)
Registered Office
11, Upper Floor Dunira Street Comrie, Crieff PH6 2LJ Scotland
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Heritable Limited Statement of financial position as at 30 June 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,050 
3,531 
Current assets
Debtors
2,544 
11,584 
Cash at bank and in hand
29,309 
30,112 
31,853 
41,696 
Creditors: amounts falling due within one year
(7,037)
(8,932)
Net current assets
24,816 
32,764 
Total assets less current liabilities
28,866 
36,295 
Provisions for liabilities
Other provisions
(770)
(671)
Net assets
28,096 
35,624 
Capital and reserves
Called up share capital
10,000 
10,000 
Profit and loss account
18,096 
25,624 
Shareholders' funds
28,096 
35,624 
For the year ending 30 June 2022 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 14 July 2022 and were signed on its behalf by
Colin Fraser McCallum Director Company Registration No. SC237615
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Heritable Limited Notes to the Accounts for the year ended 30 June 2022
1
Statutory information
Heritable Limited is a private company, limited by shares, registered in Scotland, registration number SC237615. The registered office is 11, Upper Floor, Dunira Street, Comrie, Crieff, PH6 2LJ, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
25% Straight line
Computer equipment
33% Straight line
Turnover
Turnover represents the value of commissions and fees which are accounted for on an accruals basis. Revenue from professional services is recognised upon delivery to the customer.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Heritable Limited Notes to the Accounts for the year ended 30 June 2022
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2021
16,912 
3,028 
19,940 
Additions
3,324 
- 
3,324 
At 30 June 2022
20,236 
3,028 
23,264 
Depreciation
At 1 July 2021
14,401 
2,008 
16,409 
Charge for the year
1,785 
1,020 
2,805 
At 30 June 2022
16,186 
3,028 
19,214 
Net book value
At 30 June 2022
4,050 
- 
4,050 
At 30 June 2021
2,511 
1,020 
3,531 
5
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
- 
8,953 
Accrued income and prepayments
2,098 
1,985 
Other debtors
446 
646 
2,544 
11,584 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Taxes and social security
7,001 
8,932 
Accruals
36 
- 
7,037 
8,932 
7
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
80,000 80,000 Ordinary A shares of 10p each of £0.10 each
8,000 
8,000 
10,000 10,000 Ordinary B shares of 10p each of £0.10 each
1,000 
1,000 
10,000 10,000 Ordinary C shares of 10p each of £0.10 each
1,000 
1,000 
10,000 
10,000 
8
Operating lease commitments
2022 
2021 
£ 
£ 
At 30 June 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
1,065 
1,065 
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Heritable Limited Notes to the Accounts for the year ended 30 June 2022
9
Average number of employees
During the year the average number of employees was 3 (2021: 3).
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