| Heritage Collective UK Limited |
| Registered number: |
08421647 |
| Balance Sheet |
| as at 31 March 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
230,760 |
|
|
461,115 |
| Tangible assets |
4 |
|
|
12,875 |
|
|
6,081 |
| Investments |
5 |
|
|
126 |
|
|
126 |
|
|
|
|
243,761 |
|
|
467,322 |
|
| Current assets |
| Debtors |
6 |
|
392,333 |
|
|
334,413 |
| Cash at bank and in hand |
|
|
199,870 |
|
|
255,478 |
|
|
|
592,203 |
|
|
589,891 |
|
| Creditors: amounts falling due within one year |
7 |
|
(264,625) |
|
|
(297,627) |
|
| Net current assets |
|
|
|
327,578 |
|
|
292,264 |
|
| Total assets less current liabilities |
|
|
|
571,339 |
|
|
759,586 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(85,191) |
|
|
(122,715) |
|
|
|
| Net assets |
|
|
|
486,148 |
|
|
636,871 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
720 |
|
|
720 |
| Profit and loss account |
|
|
|
485,428 |
|
|
636,151 |
|
| Shareholders' funds |
|
|
|
486,148 |
|
|
636,871 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Danielle Morgan |
| Director |
| Approved by the board on 17 December 2018 |
|
| Heritage Collective UK Limited |
| Notes to the Accounts |
| for the year ended 31 March 2018 |
|
|
| 1 |
Accounting policies |
|
|
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. |
|
|
Turnover |
|
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Computer equipment |
33% straight line |
|
|
Investments |
|
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique. |
|
|
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. |
|
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
23 |
|
18 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
Goodwill |
|
Software |
|
Total |
|
Goodwill: |
£ |
£ |
£ |
|
|
Cost |
|
At 1 April 2017 |
1,130,000 |
|
38,775 |
|
1,168,775 |
|
At 31 March 2018 |
1,130,000 |
|
38,775 |
|
1,168,775 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2017 |
684,800 |
|
22,860 |
|
707,660 |
|
Provided during the year |
222,600 |
|
7,755 |
|
230,355 |
|
At 31 March 2018 |
907,400 |
|
30,615 |
|
938,015 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
222,600 |
|
8,160 |
|
230,760 |
|
At 31 March 2017 |
445,200 |
|
15,915 |
|
461,115 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. Software is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computer equipment |
| £ |
|
Cost |
|
At 1 April 2017 |
14,707 |
|
Additions |
12,042 |
|
Disposals |
(1,500) |
|
At 31 March 2018 |
25,249 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2017 |
8,626 |
|
Charge for the year |
4,492 |
|
On disposals |
(744) |
|
At 31 March 2018 |
12,374 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2018 |
12,875 |
|
At 31 March 2017 |
6,081 |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 April 2017 |
126 |
|
|
At 31 March 2018 |
126 |
|
|
|
|
|
|
|
|
|
|
In June 2015, the company formed 18 subsidiary companies, in each of which it owns all 7 ordinary £1 shares, for possible use to expand its activities in the future. At the balance sheet date, two of the subsidiaries are trading (details below) and the others remain dormant. |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
Archaeology Collective Ltd |
Ordinary |
100 |
|
131,868 |
|
67,213 |
|
Landscape Collective Ltd |
Ordinary |
100 |
|
31,462 |
|
11,441 |
|
|
| 6 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
270,294 |
|
292,207 |
|
Amounts owed by group undertakings |
|
66,899 |
|
- |
|
Other debtors, prepayments and accrued income |
55,140 |
|
42,206 |
|
|
|
|
|
|
392,333 |
|
334,413 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
13,207 |
|
5,273 |
|
Amounts owed to group undertakings |
|
- |
|
4,270 |
|
Corporation tax |
87,586 |
|
91,076 |
|
Other taxes and social security costs |
71,454 |
|
102,834 |
|
Other creditors |
92,378 |
|
94,174 |
|
|
|
|
|
|
264,625 |
|
297,627 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Other creditors |
85,191 |
|
122,715 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
Included in other debtors is a balance of £Nil (2017: £2,813) owing to the company by Heritage Collective LLP, an entity under common control. |
|
|
As disclosed in the Profit and Loss Account, a balance of £5,201 (2017 £22,687) owing to the company from Landscape Collective Limited, a wholly-owned subsidiary, has been written off. |
|
|
Included at note 6 above is £66,899 (2017: £4,270) owing to the company from Archaeology Collective Limited, a wholly-owned subsidiary. |
|
|
| 10 |
Controlling party |
|
|
The company is controlled by its directors as listed in the Directors' Report. |
|
|
| 11 |
Other information |
|
|
Heritage Collective UK Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
9 Goldington Road |
|
Bedford |
|
MK40 3JY |
