Heritage Operations Processing Limited 07311445 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is the supply and distribution of products and support to heritage centres and their staff. Digita Accounts Production Advanced 6.30.9574.0 true 07311445 2022-08-01 2023-07-31 07311445 2023-07-31 07311445 core:CurrentFinancialInstruments 2023-07-31 07311445 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07311445 core:Goodwill 2023-07-31 07311445 core:FurnitureFittings 2023-07-31 07311445 core:OfficeEquipment 2023-07-31 07311445 bus:SmallEntities 2022-08-01 2023-07-31 07311445 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07311445 bus:FullAccounts 2022-08-01 2023-07-31 07311445 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 07311445 bus:RegisteredOffice 2022-08-01 2023-07-31 07311445 bus:Director1 2022-08-01 2023-07-31 07311445 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07311445 core:Goodwill 2022-08-01 2023-07-31 07311445 core:ComputerEquipment 2022-08-01 2023-07-31 07311445 core:FurnitureFittings 2022-08-01 2023-07-31 07311445 core:OfficeEquipment 2022-08-01 2023-07-31 07311445 countries:EnglandWales 2022-08-01 2023-07-31 07311445 2022-07-31 07311445 core:Goodwill 2022-07-31 07311445 core:FurnitureFittings 2022-07-31 07311445 core:OfficeEquipment 2022-07-31 07311445 2021-08-01 2022-07-31 07311445 2022-07-31 07311445 core:CurrentFinancialInstruments 2022-07-31 07311445 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 07311445 core:Goodwill 2022-07-31 07311445 core:FurnitureFittings 2022-07-31 07311445 core:OfficeEquipment 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 07311445

Heritage Operations Processing Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Heritage Operations Processing Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Heritage Operations Processing Limited

(Registration number: 07311445)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

22,737

25,287

Tangible assets

5

9,167

7,438

 

31,904

32,725

Current assets

 

Stocks

32,890

45,445

Debtors

6

4,253

3,466

Cash at bank and in hand

 

9,903

9,625

 

47,046

58,536

Creditors: Amounts falling due within one year

7

(60,143)

(73,826)

Net current liabilities

 

(13,097)

(15,290)

Total assets less current liabilities

 

18,807

17,435

Provisions for liabilities

(1,013)

(634)

Net assets

 

17,794

16,801

Capital and reserves

 

Called up share capital

1

1

Retained earnings

17,793

16,800

Shareholders' funds

 

17,794

16,801

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Heritage Operations Processing Limited

(Registration number: 07311445)
Balance Sheet as at 31 July 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 March 2023
 

.........................................
Mr D Scroggins
Director

 

Heritage Operations Processing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
31a Charnham Street
Hungerford
Berkshire
RG17 0EJ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Heritage Operations Processing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Asset class

Depreciation method and rate

Computer Equipment

33% Straight Line

Fixtures and Fittings

15% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Heritage Operations Processing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

 

Heritage Operations Processing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

25,500

25,500

At 31 July 2023

25,500

25,500

Amortisation

At 1 August 2022

213

213

Amortisation charge

2,550

2,550

At 31 July 2023

2,763

2,763

Carrying amount

At 31 July 2023

22,737

22,737

At 31 July 2022

25,287

25,287

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

6,294

6,168

12,462

Additions

3,561

448

4,009

At 31 July 2023

9,855

6,616

16,471

Depreciation

At 1 August 2022

1,035

3,990

5,025

Charge for the year

1,124

1,155

2,279

At 31 July 2023

2,159

5,145

7,304

Carrying amount

At 31 July 2023

7,696

1,471

9,167

At 31 July 2022

5,259

2,179

7,438

 

Heritage Operations Processing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

2,669

2,052

Other debtors

1,584

1,414

 

4,253

3,466

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,642

7,259

Taxation and social security

8,913

6,684

Other creditors

44,588

59,883

60,143

73,826

8

Related party transactions

Other transactions with the director

As at 31 July 2023 the company owed the director £24,974 (2022: £44,191).