Company No: 04067551 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	34,723		41,592
		34,723		41,592
Current assets
Stocks	4	61,249		79,242
Debtors	5	90,460		76,992
Cash at bank and in hand		59,757		64,346
		211,466		220,580
Creditors: amounts falling due within one year	6	( 135,496)		( 127,994)
Net current assets		75,970		92,586
Total assets less current liabilities		110,693		134,178
Creditors: amounts falling due after more than one year	7	( 4,626)		( 12,555)
Net assets		106,067		121,623
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		106,065		121,621
Total shareholders' funds		106,067		121,623

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

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of David Heritage Limited (registered number: 04067551) were approved and authorised for issue by the Director on 11 May 2026. They were signed on its behalf by:

David Malcolm Heritage Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

David Heritage Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 5/6 Saunders Drive, Somerton Business Park, Cowes, PO31 8HU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery	6.67 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	6.67 years straight line
Tools and equipment	10 years straight line
Computer equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	8		9

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Tools and equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 September 2024	48,648		39,380		25,188		40,900		2,296		156,412
Additions	0		0		2,841		0		629		3,470
At 31 August 2025	48,648		39,380		28,029		40,900		2,925		159,882
Accumulated depreciation
At 01 September 2024	43,167		13,537		15,751		40,450		1,915		114,820
Charge for the financial year	1,167		6,461		2,525		90		96		10,339
At 31 August 2025	44,334		19,998		18,276		40,540		2,011		125,159
Net book value
At 31 August 2025	4,314		19,382		9,753		360		914		34,723
At 31 August 2024	5,481		25,843		9,437		450		381		41,592

4. Stocks

	2025		2024
	£		£
Stocks	30,000		30,000
Work in progress	1,249		4,242
Finished goods	30,000		45,000
	61,249		79,242

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

	2025		2024
	£		£
Trade debtors	68,009		19,638
Other debtors	22,451		57,354
	90,460		76,992

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	64,615		75,055
Taxation and social security	51,330		34,127
Obligations under finance leases and hire purchase contracts (secured)	7,929		7,929
Other creditors	11,622		10,883
	135,496		127,994

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Obligations under finance leases and hire purchase contracts (secured)	4,626		12,555

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2