GLOBAL_HERITAGE_FOUNDATION_28_Feb_2023_companies_house_set_of_accounts.html
GLOBAL_HERITAGE_FOUNDATION_28_Feb_2023_companies_house_set_of_accounts.html
Company registration number:
Company limited by guarantee
Unaudited Filleted Financial Statements
for the year ended
Report of the Accountant to the director of Global Heritage Foundation
Year ended 28 February 2023
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 28 February 2023 .
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Date:
2 November 2023
Statement of Financial Position
| 2023 | 2022 | ||||
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| Note | £ | £ | |||
| Fixed assets | |||||
| Investments | 5 |
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| Current assets | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 7 |
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| Net current liabilities |
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| Total assets less current liabilities | 37,665 | 39,328 | |||
| Creditors: amounts falling due after more than one year | 8 |
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| Net liabilities |
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| Capital and reserves | |||||
| Profit and loss account |
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| Members deficit |
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For the year ending 28 February 2023 , 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 year in question in accordance with section 476; The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
| Director |
Company registration number:
11827093
Notes to the Financial Statements
Year ended 28 February 2023
1 General information
The company is a private company limited by guarantee and is registered in England and Wales. The address of the registered office is 3 Orbis Wharf , Bridges Court Road , London , SW11 3GW , England.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.
3 Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Fixed asset investments
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.
Impairment
4 Average number of employees
The average number of persons employed by the company during the year was nil (2022: 1 ).
5 Investments
| Other investments other than loans | ||
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| £ | ||
| Cost | ||
| At |
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| At |
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| Impairment | ||
| At |
- | |
| Carrying amount | ||
| At |
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| At 28 February 2022 |
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The investment consist of finance toward the production of a film, in return for a share of the net revenues of all future sales from the film.
6 Debtors
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other debtors |
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7 Creditors: amounts falling due within one year
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Trade creditors | - |
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| Other creditors |
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8 Creditors: amounts falling due after more than one year
| 2023 | 2022 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other creditors |
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