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REGISTERED NUMBER: 13887932 (England and Wales)















Unaudited Financial Statements

for the Period

2 February 2022 to 31 December 2022

for

Heritage Holdings Corp UK Limited

Heritage Holdings Corp UK Limited (Registered number: 13887932)

Contents of the Financial Statements
for the Period 2 February 2022 to 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Heritage Holdings Corp UK Limited

Company Information
for the Period 2 February 2022 to 31 December 2022







Directors: A U Becerra Rojas
L Di Ciaccio





Registered office: 48 Dover Street
3rd Floor,
London
W1S 4FF





Registered number: 13887932 (England and Wales)





Accountants: Benjamin Taylor Diner Limited
120 New Cavendish Street,
London
W1W 6XX

Heritage Holdings Corp UK Limited (Registered number: 13887932)

Balance Sheet
31 December 2022

Notes £   
Current assets
Debtors 4 132,355
Cash at bank 17,061
149,416
Creditors
Amounts falling due within one year 5 (750,586 )
Net current liabilities (601,170 )
Total assets less current liabilities (601,170 )

Creditors
Amounts falling due after more than one
year

6

(14,400

)
Net liabilities (615,570 )

Capital and reserves
Called up share capital 7 50,000
Retained earnings 8 (665,570 )
Shareholders' funds (615,570 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2022 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:





A U Becerra Rojas - Director


Heritage Holdings Corp UK Limited (Registered number: 13887932)

Notes to the Financial Statements
for the Period 2 February 2022 to 31 December 2022


1. Statutory information

The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is 48 Dover Street, 3rd Floor, London, England, W1S 4FF.

The company's principal business activity is that of financial management.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Heritage Holdings Corp UK Limited (Registered number: 13887932)

Notes to the Financial Statements - continued
for the Period 2 February 2022 to 31 December 2022


2. Accounting policies - continued

Going concern
The company relies on the financial support provided to it by its parent company and fellow
subsidiary companies through inter-company loans. After making appropriate enquiries, the directors have formed a judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the financial statements.

The directors opted to significantly decrease outstanding amounts with their fellow subsidiary companies and have sought a capital injection of $800,000 in 2023 to offset the 2022 losses and support operations in 2023.

3. Employees and directors

The average number of employees during the period was 2 .

4. Debtors
£   
Amounts falling due within one year:
Other debtors 44,605

Amounts falling due after more than one year:
Other debtors 87,750

Aggregate amounts 132,355

5. Creditors: amounts falling due within one year
£   
Trade creditors 39,656
Other creditors 684,099
Accruals and deferred income 26,831
750,586

6. Creditors: amounts falling due after more than one year
£   
Amounts owed to group undertakings 14,400

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
50,000 Ordinary £1 50,000

Called-up share capital represents the nominal value of shares that have been issued.

Heritage Holdings Corp UK Limited (Registered number: 13887932)

Notes to the Financial Statements - continued
for the Period 2 February 2022 to 31 December 2022


8. Reserves
Retained
earnings
£   

Deficit for the period (665,570 )
At 31 December 2022 (665,570 )

The retained earnings reserve records retained earnings and accumulated losses.

9. Related party disclosures

Icon X Holdings SCSp

During the period the company had the following loan account with Icon X Holdings SCSp, a Luxembourg special limited partnership and controlling party during the period from incorporation to 10 December 2022:


£

Share capital issued50,000
Euro 821,000 advanced to Heritage Holding Corp UK Limited(692,648)
Exchange difference(35,457)
Monies owed to Icon X Holdings SCSp as at 31 December 2022678,105

Interest is charged on the above loan at a rate of 2% per annum. Included in accruals at the balance sheet date was a provision of £3,730 in respect of interest due to 31 December 2022.


UMA Wealth (UK) Limited

During the period the company had the following transactions with UMA Wealth (UK) Limited, a company controlled by the Director A U Becerra Rojas:

£
Professional fees paid to UMA Wealth (UK) Limited18,122
18,122

Heritage Holding SARL

During the period the company had the following transactions with Heritage Holding SARL, a company under common control:

£
Monies advanced to Heritage Holding Corp UK Limited14,400
14,400

Interest is charged on the above loan at a rate of 2% per annum. Included in accruals at the balance sheet date was a provision of £219 in respect of interest due to 31 December 2022.

Heritage Holdings Corp UK Limited (Registered number: 13887932)

Notes to the Financial Statements - continued
for the Period 2 February 2022 to 31 December 2022


10. Post balance sheet events

On 31 January 2023 an allotment of 800,000 new Ordinary £1 shares in the company were issued to Heritage Soparfi SARL.

11. Ultimate controlling party

During the period from incorporation to 10 December 2022 the company was under the control of Icon X Holdings SCSp, a Luxembourg special limited partnership by virtue of its 100% ownership of the issued share capital in the company.

On the 10 December 2022 Heritage Soparfi SARL, a private limited liability company incorporated in Luxembourg acquired 100% of the issued share capital in Heritage Holding Corp UK Limited, and is now regarded by the directors as being the ultimate holding company and controlling party.