ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

HERITAGE WORLD PRESS LIMITED - Company Information

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Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falseNo description of principal activity22falsetrue 06965943 2021-01-01 2021-12-31 06965943 2020-01-01 2020-12-31 06965943 2021-12-31 06965943 2020-12-31 06965943 c:Director1 2021-01-01 2021-12-31 06965943 c:Director2 2021-01-01 2021-12-31 06965943 c:RegisteredOffice 2021-01-01 2021-12-31 06965943 d:ComputerEquipment 2021-01-01 2021-12-31 06965943 d:ComputerEquipment 2021-12-31 06965943 d:ComputerEquipment 2020-12-31 06965943 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 06965943 d:CurrentFinancialInstruments 2021-12-31 06965943 d:CurrentFinancialInstruments 2020-12-31 06965943 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 06965943 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 06965943 d:ShareCapital 2021-12-31 06965943 d:ShareCapital 2020-12-31 06965943 d:RetainedEarningsAccumulatedLosses 2021-12-31 06965943 d:RetainedEarningsAccumulatedLosses 2020-12-31 06965943 c:FRS102 2021-01-01 2021-12-31 06965943 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 06965943 c:FullAccounts 2021-01-01 2021-12-31 06965943 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure
Company registration number: 06965943







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021


HERITAGE WORLD PRESS LIMITED






































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HERITAGE WORLD PRESS LIMITED
 


 
COMPANY INFORMATION


Directors
E K Byrne 
S M Byrne 




Registered number
06965943



Registered office
Centrum House
36 Station Road

Egham

Surrey

TW20 9LF




Trading Address
27 Spencer Square

Ramsgate

Kent

CT11 9LA






 


HERITAGE WORLD PRESS LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 4

 


HERITAGE WORLD PRESS LIMITED
REGISTERED NUMBER:06965943



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
32

  
-
32

Current assets
  

Stocks
  
325
420

Debtors: amounts falling due within one year
 5 
1,100
1,066

Cash at bank and in hand
  
-
578

  
1,425
2,064

Creditors: amounts falling due within one year
 6 
(229,920)
(225,633)

Net current liabilities
  
 
 
(228,495)
 
 
(223,569)

Total assets less current liabilities
  
(228,495)
(223,537)

  

Net liabilities
  
(228,495)
(223,537)


Capital and reserves
  

Called up share capital 
  
8
8

Profit and loss account
  
(228,503)
(223,545)

  
(228,495)
(223,537)


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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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



S M Byrne
Director
Date: 21 December 2022

The notes on pages 2 to 4 form part of these financial statements.
Page 1
 


HERITAGE WORLD PRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Heritage World Press Limited is a private company limited by shares and incorporated in England and Wales.  The address of the registered office is given in the company information page of these financial statements.  
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Going concern

At the balance sheet date the company shows a deficiency of total assets over total liabilities of £228,495 (2020: £223,537). Due to the ongoing support of the director, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 2
 


HERITAGE WORLD PRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

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.

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:

Computer equipment
-
33%

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 profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 3
 


HERITAGE WORLD PRESS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2021
3,516



At 31 December 2021

3,516



Depreciation


At 1 January 2021
3,484


Charge for the year on owned assets
32



At 31 December 2021

3,516



Net book value



At 31 December 2021
-



At 31 December 2020
32


5.


Debtors

2021
2020
£
£


Trade debtors
173
-

Other debtors
927
1,066

1,100
1,066



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
1,837
2,206

Other creditors
226,983
222,427

Accruals and deferred income
1,100
1,000

229,920
225,633


 
Page 4