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REGISTERED NUMBER: 07542539 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Heritage Worldwide Limited

Heritage Worldwide Limited (Registered number: 07542539)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Heritage Worldwide Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: M Fahy





REGISTERED OFFICE: Unit 2
Cedar Parc
Doddington
Lincoln
LN6 4RR





REGISTERED NUMBER: 07542539 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Heritage Worldwide Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heritage Worldwide Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Heritage Worldwide Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heritage Worldwide Limited and state those matters that we have agreed to state to the director of Heritage Worldwide Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heritage Worldwide Limited and its director for our work or for this report.

It is your duty to ensure that Heritage Worldwide Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heritage Worldwide Limited. You consider that Heritage Worldwide Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Heritage Worldwide Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


5 November 2024

Heritage Worldwide Limited (Registered number: 07542539)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,578 24,931

CURRENT ASSETS
Stocks 55,212 59,784
Debtors 5 141,271 132,881
Cash at bank 3,322 12,233
199,805 204,898
CREDITORS
Amounts falling due within one year 6 97,453 49,470
NET CURRENT ASSETS 102,352 155,428
TOTAL ASSETS LESS CURRENT LIABILITIES 125,930 180,359

CREDITORS
Amounts falling due after more than one year 7 (39,521 ) (43,770 )

PROVISIONS FOR LIABILITIES (3,925 ) (4,146 )
NET ASSETS 82,484 132,443

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 82,481 132,440
SHAREHOLDERS' FUNDS 82,484 132,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 5 November 2024 and were signed by:





M Fahy - Director


Heritage Worldwide Limited (Registered number: 07542539)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Heritage Worldwide Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 5% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Heritage Worldwide Limited (Registered number: 07542539)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 8,413 20,913 10,643 8,737 48,706
Additions - 6,910 1,773 1,396 10,079
Disposals - (11,088 ) - - (11,088 )
At 29 February 2024 8,413 16,735 12,416 10,133 47,697
DEPRECIATION
At 1 March 2023 1,549 7,933 6,859 7,434 23,775
Charge for year 420 4,187 1,367 468 6,442
Eliminated on disposal - (6,098 ) - - (6,098 )
At 29 February 2024 1,969 6,022 8,226 7,902 24,119
NET BOOK VALUE
At 29 February 2024 6,444 10,713 4,190 2,231 23,578
At 28 February 2023 6,864 12,980 3,784 1,303 24,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,224 8,745
Other debtors 126,047 124,136
141,271 132,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,430 5,556
Trade creditors 15,989 15,902
Taxation and social security 30,444 26,153
Other creditors 4,590 1,859
97,453 49,470

Heritage Worldwide Limited (Registered number: 07542539)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 39,521 43,770

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 22,854 27,103

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary voting £1 2 2
1 Ordinary B Voting £1 1 1
3 3

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
M Fahy
Balance outstanding at start of year 100,027 100,953
Amounts advanced 57,912 41,132
Amounts repaid (63,635 ) (42,058 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,304 100,027