Heritage Property Development & Management Ltd

(Registration number: 07877500)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	2,300	4,824
Current assets
Stocks	6	84,755	80,755
Debtors	7	-	9,923
Cash at bank and in hand		16,654	41,463
		101,409	132,141
Creditors: Amounts falling due within one year	8	(37,921)	(43,738)
Net current assets		63,488	88,403
Total assets less current liabilities		65,788	93,227
Creditors: Amounts falling due after more than one year	8	(29,411)	(29,358)
Net assets		36,377	63,869
Capital and reserves
Called up share capital	9	100	1
Retained earnings		36,277	63,868
Shareholders' funds		36,377	63,869

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

......................................... Steven Lewis McCrae Director

Heritage Property Development & Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Chandlers Ford
Poulton-Le-Fylde
FY6 7AR

These financial statements were authorised for issue by the Board on 19 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings, equipment	20-50% p.a. reducing balance basis
Office equipment	20-50% p.a. reducing balance basis
Motor vehicles	reflecting current market value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Heritage Property Development & Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	2,524	-

Heritage Property Development & Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2024	2,301	21,719	5,689	29,709
At 31 January 2025	2,301	21,719	5,689	29,709
Depreciation
At 1 February 2024	1,418	21,598	1,869	24,885
Charge for the year	683	121	1,720	2,524
At 31 January 2025	2,101	21,719	3,589	27,409
Carrying amount
At 31 January 2025	200	-	2,100	2,300
At 31 January 2024	883	121	3,820	4,824

6

Stocks

	2025 £	2024 £
Work in progress	80,755	80,755
Stock for sale and business use	4,000	-
	84,755	80,755

7

Debtors

Current	Note	2025 £	2024 £
Inter-company loans		-	9,923
		-	9,923

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	34,651	28,609
Accruals and deferred income		-	13,585
Other creditors		3,270	1,544
		37,921	43,738

Heritage Property Development & Management Ltd

Notes to the Financial Statements for the Year Ended 31 January 2025

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	29,411	29,358

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	29,411	29,358

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	8,334	8,334
Director current account	26,317	20,275
	34,651	28,609