Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-317false2022-09-01Operation of a gym7falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09187847 2022-09-01 2023-08-31 09187847 2021-09-01 2022-08-31 09187847 2023-08-31 09187847 2022-08-31 09187847 c:Director1 2022-09-01 2023-08-31 09187847 d:Buildings d:ShortLeaseholdAssets 2022-09-01 2023-08-31 09187847 d:Buildings d:ShortLeaseholdAssets 2023-08-31 09187847 d:Buildings d:ShortLeaseholdAssets 2022-08-31 09187847 d:LandBuildings 2023-08-31 09187847 d:LandBuildings 2022-08-31 09187847 d:PlantMachinery 2022-09-01 2023-08-31 09187847 d:PlantMachinery 2023-08-31 09187847 d:PlantMachinery 2022-08-31 09187847 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09187847 d:OfficeEquipment 2022-09-01 2023-08-31 09187847 d:OfficeEquipment 2023-08-31 09187847 d:OfficeEquipment 2022-08-31 09187847 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09187847 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 09187847 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 09187847 d:PatentsTrademarksLicencesConcessionsSimilar 2022-08-31 09187847 d:CurrentFinancialInstruments 2023-08-31 09187847 d:CurrentFinancialInstruments 2022-08-31 09187847 d:Non-currentFinancialInstruments 2023-08-31 09187847 d:Non-currentFinancialInstruments 2022-08-31 09187847 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 09187847 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 09187847 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 09187847 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 09187847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 09187847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 09187847 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 09187847 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 09187847 d:ShareCapital 2023-08-31 09187847 d:ShareCapital 2022-08-31 09187847 d:RetainedEarningsAccumulatedLosses 2023-08-31 09187847 d:RetainedEarningsAccumulatedLosses 2022-08-31 09187847 c:FRS102 2022-09-01 2023-08-31 09187847 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 09187847 c:FullAccounts 2022-09-01 2023-08-31 09187847 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09187847 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-09-01 2023-08-31 09187847 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 09187847









HERITAGE CAPITAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
HERITAGE CAPITAL LIMITED
REGISTERED NUMBER: 09187847

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
                                                                     Note
£
£

Fixed assets
  

Intangible assets
 4 
4,500
11,361

Tangible assets
 5 
191,826
215,515

  
196,326
226,876

Current assets
  

Debtors: amounts falling due within one year
 6 
14,130
27,680

Cash at bank and in hand
  
40,382
132,007

  
54,512
159,687

Creditors: amounts falling due within one year
 7 
(308,423)
(213,855)

Net current liabilities
  
 
 
(253,911)
 
 
(54,168)

Total assets less current liabilities
  
(57,585)
172,708

Creditors: amounts falling due after more than one year
 8 
(292,683)
(421,415)

  

Net liabilities
  
(350,268)
(248,707)


Capital and reserves
  

Called up share capital 
  
120
120

Profit and loss account
  
(350,388)
(248,827)

  
(350,268)
(248,707)


Page 1

 
HERITAGE CAPITAL LIMITED
REGISTERED NUMBER: 09187847
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Hussain
Director

Date: 24 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Heritage Capital Limited ("the Company") is a private company, limited by shares, registered in England
and Wales. The Company's registered office is Victoria House, 14-26 Victoria Street, Luton, LU1 2UA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

As part of a going concern review, the directors have followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future as the Company expects to receive continuing financial support from companies connected to it by virtue of common directorship and ownership. On this basis the directors consider that the going concern basis of accounting remains appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, a straight-line and on a reducing balance basis.

Depreciation is provided on the following bases:

Short-term leasehold property
-
Over the life of the lease
Plant and machinery
-
25% reducing balance
Office equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Intangible assets




Licence fees

£



Cost


At 1 September 2022
69,423



At 31 August 2023

69,423



Amortisation


At 1 September 2022
58,062


Charge for the year on owned assets
6,861



At 31 August 2023

64,923



Net book value



At 31 August 2023
4,500



At 31 August 2022
11,361



Page 6

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
285,527
19,716
11,869
317,112



At 31 August 2023

285,527
19,716
11,869
317,112



Depreciation


At 1 September 2022
81,580
12,187
7,830
101,597


Charge for the year on owned assets
20,395
1,878
1,416
23,689



At 31 August 2023

101,975
14,065
9,246
125,286



Net book value



At 31 August 2023
183,552
5,651
2,623
191,826



At 31 August 2022
203,947
7,529
4,039
215,515




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Short leasehold
183,552
203,947

183,552
203,947


Page 7

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Trade debtors
1,930
-

Other debtors
-
9,275

Prepayments and accrued income
12,200
18,405

14,130
27,680



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,307
49,167

Trade creditors
46,643
49,734

Other taxation and social security
99,938
2,252

Other creditors
74,285
75,452

Accruals
37,250
37,250

308,423
213,855



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
41,229
91,625

Amounts owed to connected entities
251,454
329,790

292,683
421,415


Page 8

 
HERITAGE CAPITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,307
49,167

Amounts falling due 1-2 years

Bank loans
30,723
70,873

Amounts falling due 2-5 years

Bank loans
10,506
20,752


91,536
140,792


The bank loans are secured by way of a fixed and floating charge over all the assets and undertakings of the Company including all present and future freehold and leasehold property, book and other debts, chattels, goodwill and uncalled capital, both present and future.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,522 (2022 - £1,502). Contributions outstanding at the year end amounted to £540 (2022 - £540).


11.


Related party transactions

At the year end the Company owed the directors £67,157 (2022 - £67,525).

 
Page 9