2023-01-012023-12-312023-12-31false03279341HERITAGE FINANCIAL CONSULTANCY 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HERITAGE FINANCIAL CONSULTANCY LIMITED

Registered Number
03279341
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

HERITAGE FINANCIAL CONSULTANCY LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

John Pearson Steele
Tracey Elaine Steele

Company Secretary

Tracey Elaine Steele

Registered Address

Heritage House
Brewery Lane Holcombe
Radstock
BA3 5EQ

Registered Number

03279341 (England and Wales)
HERITAGE FINANCIAL CONSULTANCY LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3-13,080
Tangible assets4132,708163,135
132,708176,215
Current assets
Debtors574,06958,630
74,06958,630
Creditors amounts falling due within one year6(84,200)(83,281)
Net current assets (liabilities)(10,131)(24,651)
Total assets less current liabilities122,577151,564
Creditors amounts falling due after one year(116,410)(146,181)
Net assets6,1675,383
Capital and reserves
Called up share capital506506
Profit and loss account5,6614,877
Shareholders' funds6,1675,383
The financial statements were approved and authorised for issue by the Board of Directors on 2 July 2024, and are signed on its behalf by:
John Pearson Steele
Director
Registered Company No. 03279341
HERITAGE FINANCIAL CONSULTANCY LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over it's estimated economic life to a maximum of 5 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles15
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
2.Average number of employees

20232022
Average number of employees during the year56
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2339,24139,241
At 31 December 2339,24139,241
Amortisation and impairment
At 01 January 2326,16126,161
Charge for year13,08013,080
At 31 December 2339,24139,241
Net book value
At 31 December 23--
At 31 December 2213,08013,080
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 231,856184,15013,35821,637221,001
At 31 December 231,856184,15013,35821,637221,001
Depreciation and impairment
At 01 January 231,35334,0792,70119,73357,866
Charge for year12628,92875461930,427
At 31 December 231,47963,0073,45520,35288,293
Net book value
At 31 December 23377121,1439,9031,285132,708
At 31 December 22503150,07110,6571,904163,135
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables72,99757,146
Prepayments and accrued income1,0721,484
Total74,06958,630
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts3,63713,390
Amounts owed to related parties32,20322,628
Taxation and social security31,23030,187
Finance lease and HP contracts14,93914,939
Accrued liabilities and deferred income2,1912,137
Total84,20083,281
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.