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REGISTERED NUMBER: 13887932 (England and Wales)















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: A U Becerra Rojas





Registered office: 111 Park Street,
London
W1K 7JF





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 2023

31.12.23 31.12.22
Notes £    £   
Fixed assets
Tangible assets 4 21,013 -
Investments 5 785 -
21,798 -

Current assets
Debtors 6 1,056,885 132,355
Cash at bank 18,254 17,061
1,075,139 149,416
Creditors
Amounts falling due within one year 7 (83,694 ) (750,586 )
Net current assets/(liabilities) 991,445 (601,170 )
Total assets less current liabilities 1,013,243 (601,170 )

Creditors
Amounts falling due after more than one
year

8

(284,531

)

(14,400

)
Net assets/(liabilities) 728,712 (615,570 )

Capital and reserves
Called up share capital 9 850,000 50,000
Retained earnings 10 (121,288 ) (665,570 )
Shareholders' funds 728,712 (615,570 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 17 September 2024 and were signed by:





A U Becerra Rojas - Director


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
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 (£).

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

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 (2022 - 2 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
Additions 21,227 5,995 27,222
At 31 December 2023 21,227 5,995 27,222
Depreciation
Charge for year 4,708 1,501 6,209
At 31 December 2023 4,708 1,501 6,209
Net book value
At 31 December 2023 16,519 4,494 21,013

5. Fixed asset investments
Shares in
group
undertakings
£   
Cost
Additions 785
At 31 December 2023 785
Net book value
At 31 December 2023 785

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 872,995 -
Other debtors 96,140 44,605
969,135 44,605

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

Aggregate amounts 1,056,885 132,355

7. Creditors: amounts falling due within one year
31.12.23 31.12.22
£    £   
Trade creditors 29,375 39,656
Amounts owed to group undertakings 785 -
Social security and other taxes 12,652 -
Other creditors 18,700 684,099
Accruals and deferred income 22,182 26,831
83,694 750,586

8. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 284,531 14,400

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
850,000 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 (665,570 )
Profit for the year 544,282
At 31 December 2023 (121,288 )

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:
31.12.2331.12.22
££
Monies owed to Icon X Holdings SCSp brought forward678,105
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:
31.12.2331.12.22
££
Professional fees paid to UMA Wealth (UK) Limited27,00518,122
27,00518,122

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:

31.12.2331.12.22
££
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:

31.12.2331.12.22
££
Monies advanced to Heritage Holding Corp UK Limited(798,762)-
Monies repaid by Heritage Holding Corp UK Limited650,000-
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:
31.12.2331.12.22
££
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:

31.12.2331.12.22
££

Service fees receivable by Heritage Holdings Corp UK Limited1,265,479-
Monies received(500,000)-
Monies owed by Heritage AIF EU SCSp at the balance sheet date765,479-

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:

31.12.2331.12.22
££
Service fees receivable by Heritage Holdings Corp UK Limited83,046-
Monies received--
Monies owed by Iconic V SCSp at the balance sheet date83,046-

FISPA SRL

During the period the company had the following transactions with FISPA SRL, a limited liability company incorporated in Italy:


31.12.2331.12.22
££
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.