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Heritage Advisors Limited

Registered Number
12198454
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Heritage Advisors Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Director | AL-THANI, Sheikh Sultan Bin Jassim

Registered Address | 13a 3rd Floor
| 13a St. George Street
| London
| W1S 2FQ

Registered Number | 12198454 (England and Wales)

Heritage Advisors Limited
Balance Sheet as at
31 December 2024

| Notes | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 344,662 |  |  |  | 483,230
|  |  |  | 344,662 |  |  |  | 483,230
Current assets |  |  |  |  |  |  |  |
Debtors | 4 | 4,193,665 |  |  |  | 10,834,182 |  |
Cash at bank and on hand |  | 354,117 |  |  |  | 1,514,963 |  |
|  | 4,547,782 |  |  |  | 12,349,145 |  |
Creditors amounts falling due within one year | 5 | (19,032,667) |  |  |  | (16,489,621) |  |
Net current assets (liabilities) |  |  |  | (14,484,885) |  |  |  | (4,140,476)
Total assets less current liabilities |  |  |  | (14,140,223) |  |  |  | (3,657,246)
Net assets |  |  |  | (14,140,223) |  |  |  | (3,657,246)
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1 |  |  |  | 1
Profit and loss account |  |  |  | (14,140,224) |  |  |  | (3,657,247)
Shareholders' funds |  |  |  | (14,140,223) |  |  |  | (3,657,246)

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 8 September 2025, and are signed on its behalf by:
AL-THANI, Sheikh Sultan Bin Jassim Director Registered Company No. 12198454

Heritage Advisors Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

| Going concern
--- | ---
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

| Revenue from rendering of services
--- | ---
| Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

| Operating leases
--- | ---
| Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Employee benefits
--- | ---
| Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

| Defined contribution pension plan
--- | ---
| The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

|  | Reducing balance (%) |  | Straight line (years)
| Land and buildings | - |  | 5
| Plant and machinery | 20 |  | -
| Fixtures and fittings | - |  | 5
| Vehicles | 20 |  | -
| Office Equipment | 25 |  | -

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Cash and cash equivalents
--- | ---
| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Financial instruments
--- | ---
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

| Share capital
--- | ---
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2. | Average number of employees
--- | ---

|  | 2024 |  | 2023
| Average number of employees during the year | 9 |  | 8

3. | Tangible fixed assets
--- | ---

|  | Land & buildings |  | Plant & machinery |  | Vehicles |  | Fixtures & fittings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 January 24 | 652,709 |  | 4,419 |  | 24,792 |  | 82,257 |  | 84,669 |  | 848,846
| Additions | - |  | - |  | 34,060 |  | 3,707 |  | 10,447 |  | 48,214
| Disposals | - |  | - |  | (24,792) |  | - |  | - |  | (24,792)
| At 31 December 24 | 652,709 |  | 4,419 |  | 34,060 |  | 85,964 |  | 95,116 |  | 872,268
| Depreciation and impairment
| At 01 January 24 | 285,988 |  | 2,049 |  | 11,620 |  | 45,201 |  | 20,758 |  | 365,616
| Charge for year | 130,542 |  | 474 |  | 6,812 |  | 17,193 |  | 18,589 |  | 173,610
| On disposals | - |  | - |  | (11,620) |  | - |  | - |  | (11,620)
| At 31 December 24 | 416,530 |  | 2,523 |  | 6,812 |  | 62,394 |  | 39,347 |  | 527,606
| Net book value
| At 31 December 24 | 236,179 |  | 1,896 |  | 27,248 |  | 23,570 |  | 55,769 |  | 344,662
| At 31 December 23 | 366,721 |  | 2,370 |  | 13,172 |  | 37,056 |  | 63,911 |  | 483,230

4. | Debtors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 2,879,358 |  | 2,214,781
| Other debtors | 855,398 |  | 1,021,637
| Prepayments and accrued income | 458,909 |  | 7,597,764
| Total | 4,193,665 |  | 10,834,182

5. | Creditors: amounts due within one year
--- | ---

|  | 2024 |  | 2023
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 1,563,552 |  | 1,435,201
| Bank borrowings and overdrafts | 3,125 |  | 569
| Taxation and social security | 382,614 |  | 1,842
| Other creditors | 16,423,297 |  | 11,658,167
| Accrued liabilities and deferred income | 660,079 |  | 3,393,842
| Total | 19,032,667 |  | 16,489,621

6. | Provisions for liabilities
--- | ---

7. | Operating lease commitments
--- | ---
| At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £165,177 (2023 – £331,265)