Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31No description of principal activity2023-04-01false33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05274067 2023-04-01 2024-03-31 05274067 2022-04-01 2023-03-31 05274067 2024-03-31 05274067 2023-03-31 05274067 2022-04-01 05274067 c:CompanySecretary1 2023-04-01 2024-03-31 05274067 c:Director1 2023-04-01 2024-03-31 05274067 c:Director2 2023-04-01 2024-03-31 05274067 c:Director3 2023-04-01 2024-03-31 05274067 c:RegisteredOffice 2023-04-01 2024-03-31 05274067 d:Buildings 2023-04-01 2024-03-31 05274067 d:Buildings 2024-03-31 05274067 d:Buildings 2023-03-31 05274067 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05274067 d:MotorVehicles 2023-04-01 2024-03-31 05274067 d:MotorVehicles 2024-03-31 05274067 d:MotorVehicles 2023-03-31 05274067 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05274067 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05274067 d:CurrentFinancialInstruments 2024-03-31 05274067 d:CurrentFinancialInstruments 2023-03-31 05274067 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05274067 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05274067 d:ShareCapital 2024-03-31 05274067 d:ShareCapital 2023-03-31 05274067 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 05274067 d:RetainedEarningsAccumulatedLosses 2024-03-31 05274067 d:RetainedEarningsAccumulatedLosses 2023-03-31 05274067 d:OtherDeferredTax 2024-03-31 05274067 d:OtherDeferredTax 2023-03-31 05274067 c:FRS102 2023-04-01 2024-03-31 05274067 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05274067 c:FullAccounts 2023-04-01 2024-03-31 05274067 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05274067 2 2023-04-01 2024-03-31 05274067 d:Buildings d:LeasedAssetsHeldAsLessee 2024-03-31 05274067 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-03-31 05274067 d:LeasedAssetsHeldAsLessee 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05274067







HERITAGE LANDBANK (HOLDINGS) LTD
 
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

COMPANY INFORMATION


DIRECTORS
H. M. Goldenberg Assoc RICS 
S. A. Goldenberg FRICS IRRV FRSPH 
B. M. Goldenberg 




COMPANY SECRETARY
S. A. Goldenberg FRICS IRRV FRSPH



REGISTERED NUMBER
05274067



REGISTERED OFFICE
1st Floor Sackville House
143-149 Fenchurch Street

London

EC3M 6BN





 
HERITAGE LANDBANK (HOLDINGS) LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
HERITAGE LANDBANK (HOLDINGS) LTD
REGISTERED NUMBER: 05274067

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,616,761
10,010,000

Current assets
  

Stocks
 5 
-
104,872

Debtors
 6 
198,703
151,069

Cash at bank and in hand
  
84,822
83,776

  
283,525
339,717

Creditors: amounts falling due within one year
 7 
(3,743,571)
(3,848,577)

Net current liabilities
  
 
 
(3,460,046)
 
 
(3,508,860)

Total assets less current liabilities
  
3,156,715
6,501,140

Deferred tax
 8 
(156,170)
(1,011,170)

Net assets
  
3,000,545
5,489,970


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1
1

Profit and loss account
 9 
3,000,544
5,489,969

Equity shareholders' funds
  
3,000,545
5,489,970


Page 1

 
HERITAGE LANDBANK (HOLDINGS) LTD
REGISTERED NUMBER: 05274067

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 Directors' Report and the Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
25 March 2025




H. M. Goldenberg Assoc RICS
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Heritage Landbank (Holdings) Ltd (registered number: 05274067), having its registered office at 1st Floor, Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company incorporated in England and Wales. 
The principal place of business is 520 Linen Hall, 162-168 Regent St, Soho, London, W1B 5TF.

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

STATEMENT OF CASH FLOWS

The Company has taken advantage of the exemption in Section 1A.7 of Financial Reporting Standard 102 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.

  
2.3

OTHER OPERATING INCOME

Other operating income comprises rental and other property related income exclusive of Value Added Tax.
Other operating income in respect of rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the rental income can be measured reliably. Other operating income is measured as the fair value of the consideration received or receivable, excluding Value Added Tax. 

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by S. A. Goldenberg FRICS IRRV FRSPH, a director of the Company and a Chartered Surveyor, and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.5

STOCKS

Land and development work in progress is valued at the lower of cost and net realisable value in the normal course of the business.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price.

 
2.7

CASH AND CASH EQUIVALENTS

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

Page 3

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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 and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. 

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

 
2.11

INTEREST INCOME

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.12

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 LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.12
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line

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 the Statement of Income and Retained Earnings.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Freehold investment property
Motor vehicles
Total

£
£
£



Valuation


At 1 April 2023
10,010,000
-
10,010,000


Additions
-
27,330
27,330


Revaluations
(3,420,000)
-
(3,420,000)



At 31 March 2024

6,590,000
27,330
6,617,330



DEPRECIATION


At 1 April 2023
-
-
-


Charge for the year
-
569
569



At 31 March 2024

-
569
569



NET BOOK VALUE



At 31 March 2024
6,590,000
26,761
6,616,761



At 31 March 2023
10,010,000
-
10,010,000

Valuation of land and buildings at 31 March 2024 is as follows:


Freehold Property
£


Cost
5,676,885

Revaluation
913,115

6,590,000

The land and buildings were revalued on 31 March 2024 on an open market existing basis by S. A. Goldenberg FRICS IRRV FRSPH, a director of the Company who is a qualified Chartered Surveyor.

Page 6

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


STOCKS

2024
2023
£
£

Work in progress
-
104,872



6.


DEBTORS

2024
2023
£
£

Due within one year

Trade debtors
136,959
96,756

Other debtors
61,450
54,019

Prepayments and accrued income
294
294

198,703
151,069



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
83,295
14,867

Amounts owed to group undertakings
3,370,960
3,516,826

Corporation tax
14,510
43,674

Other taxation and social security
29,574
39,399

Other creditors
168,792
153,453

Accruals and deferred income
76,440
80,358

3,743,571
3,848,577


Page 7

 
HERITAGE LANDBANK (HOLDINGS) LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


DEFERRED TAXATION




2024
2023


£

£



At beginning of year
(1,011,170)
(1,011,170)


Credited to profit or loss
855,000
-



AT END OF YEAR
(156,170)
(1,011,170)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment property
156,170
1,011,170


The amount of the net reversal of deferred tax expected to occur in the next year is dependent on any future fair value movements on investment properties.


9.


RESERVES

Profit and loss account

At the Balance Sheet date the profit and loss account contained non-distributable reserves of £756,945 (2023: £3,321,945) relating to the revaluation of investment property and deferred tax thereon.


10.


RELATED PARTY TRANSACTIONS

Included within creditors are amounts due to the parent Company of £3,370,960 (2023: £3,516,826).


11.


PARENT UNDERTAKING

The immediate and ultimate parent undertaking is Heritage Land Limited, a company registered in England and Wales.


Page 8