REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Heritage Holdings Corp UK Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Heritage Holdings Corp UK Limited |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Heritage Holdings Corp UK Limited |
Company Information |
for the Year Ended 31 December 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
120 New Cavendish Street, |
London |
W1W 6XX |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Net assets/(liabilities) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
The director acknowledges his 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. |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | Statutory information |
The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is 111 Park Street, London, England, W1K 7JF. |
The company's principal business activity is that of financial management. |
2. | Accounting policies |
Basis of preparing the financial statements |
The financial statements are presented in Sterling (£). |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year 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 year 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. |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | Accounting policies - continued |
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. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
Additions |
At 31 December 2023 |
Depreciation |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
On the 29 December 2023 the company acquired 5 Limited Partnership Units (an 83.33% holding) in Heritage Capital Calls SCSp, a special limited partnership established under the laws of the Grand Duchy of Luxembourg. |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | Debtors |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
8. | Creditors: amounts falling due after more than one year |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed to group undertakings |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 850,000 | 50,000 |
Called-up share capital represents the nominal value of shares that have been issued. |
On 31 January 2023 an allotment of 800,000 new Ordinary £1 shares in the company were issued to |
Heritage Soparfi SARL |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
10. | Reserves |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Profit for the year |
At 31 December 2023 | ( |
) |
The retained earnings reserve records retained earnings and accumulated losses. |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
11. | 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: |
31.12.23 | 31.12.22 |
£ | £ |
Monies owed to Icon X Holdings SCSp brought forward | 678,105 |
Share capital issued | - | 50,000 |
Euro 821,000 advanced to Heritage Holding Corp UK Limited | - | (692,648 | ) |
Monies repaid to Icon X Holdings SCSp | (676,270 | ) | - |
Exchange difference | (1,835 | ) | (35,457 | ) |
Monies owed to Icon X Holdings SCSp as at the balance sheet date | - | (678,105 | ) |
Interest was charged on the above loan at a rate of 2% per annum. During the year interest amounting to £8,567 was paid on the above loan. Included in accruals at the balance sheet date was a provision of £nil (2022: £3,730) in respect of interest due to 31 December 2023. |
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: |
31.12.23 | 31.12.22 |
£ | £ |
Professional fees paid to UMA Wealth (UK) Limited | 27,005 | 18,122 |
27,005 | 18,122 |
Heritage Soparfi S.a.r.l |
During the year the company had the following Euro loan with Heritage Soparfi S.a.r.l, the sole shareholder of the company: |
31.12.23 | 31.12.22 |
£ | £ |
Euro 140,000 advanced to Heritage Holdings Corp UK Limited | (120,706 | ) | - |
Exchange difference | (663 | ) | - |
Amount owed to Heritage Soparfi S.a.r.l at the balance sheet date | (121,369 | ) | - |
During the year the company had the following sterling loan with Heritage Soparfi S.a.r.l, the sole shareholder of the company: |
31.12.23 | 31.12.22 |
£ | £ |
Monies advanced to Heritage Holding Corp UK Limited | (798,762 | ) | - |
Monies repaid by Heritage Holding Corp UK Limited | 650,000 | - |
Monies owed to Heritage Soparfi S.a.r.l at the balance sheet date | (148,762 | ) | - |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
Heritage Holdings S.a.r.l |
During the period the company had the following transactions with Heritage Holdings S.a.r.l, a company under common control: |
31.12.23 | 31.12.22 |
£ | £ |
Monies owed to Heritage Holdings S.a.r.l brought forward | (14,400 | ) | - |
Monies advanced to Heritage Holdings Corp UK Limited | - | (14,400 | ) |
Monies owed to Heritage Holdings S.a.r.l at the balance sheet date | (14,400 | ) | (14,400 | ) |
The above loans are unsecured and interest free. |
Heritage AIF EU SCSp |
During the year the company had the following transactions with Heritage AIF EU SCSp, a partnership managed by a company under common control who is acting as general partner: |
31.12.23 | 31.12.22 |
£ | £ |
Service fees receivable by Heritage Holdings Corp UK Limited | 1,265,479 | - |
Monies received | (500,000 | ) | - |
Monies owed by Heritage AIF EU SCSp at the balance sheet date | 765,479 | - |
Iconic V SCSp |
During the year the company had the following transactions with Iconic V SCSp, a partnership managed by a company under common control who is acting as general partner: |
31.12.23 | 31.12.22 |
£ | £ |
Service fees receivable by Heritage Holdings Corp UK Limited | 83,046 | - |
Monies received | - | - |
Monies owed by Iconic V SCSp at the balance sheet date | 83,046 | - |
FISPA SRL |
During the period the company had the following transactions with FISPA SRL, a limited liability company incorporated in Italy: |
31.12.23 | 31.12.22 |
£ | £ |
Monies advanced to Heritage Holdings Corp UK Limited |
(785 | ) | - |
Monies owed to FISPA SRL as at the balance sheet date | (785 | ) | - |
Heritage Holdings Corp UK Limited (Registered number: 13887932) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
12. | 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 S.a.r.l, 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. |