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    OHG   GB00BLF79495


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

One Heritage Group plc : Full year results for the -12-

10/20/2021 | 02:01am EST
Payment of lease liabilities                           -                 (18,534)    -         -           (18,534) 
Total changes from financing cash flows                16,745,192        (18,534)    -         -           16,726,658 
Changes arising from obtaining or losing control of    -                 -           -         -           - 
subsidiaries or other businesses 
Other changes 
Liability related 
New leases                                             -                 154,149     -         -           154,149 
Capitalised borrowing costs                            285,817           -           -         -           285,817 
Interest expense                                       59,072            5,356       -         -           64,428 
Interest paid                                          (344,889)         -           -         -           (344,889) 
Total liability-related other changes                  -                 159,505     -         -           159,505 
Total equity-related other changes                     -                 -           -         -           - 
Balance as at 30 June 2021                             16,745,192        140,971     -         -           16,886,163 21. Trade and other payables 
                             30 June 2021 30 June 2020 
GBP unless stated 
Trade payables              549,317        378,417 
Accruals and prepayments    56,341         283,650 
Provision                   24,368        - 
PAYE payable                19,325         3,947 
                            649,351        666,014 

Trade payables and accruals relate to amounts payable at the reporting date for services received during the period.

During the year the Group made a provision against the dividends received from an associate (note 16).

The company has financial risk management policies in place to ensure that all payables are paid within the credit timeframe.

Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note. 22. Financial instruments - fair value and risk management

Accounting classifications and fair values

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

As at 30 June 2021

                                   Carrying value                                           Fair value 
GBP unless stated                    Financial assets at                      Total     Level 1 Level Level 3   Total 
                                   amortised cost           financial                         2 
Financial assets not measured at 
fair value 
Trade and other receivables        667,759                  -               667,759   -       -     667,759   667,759 
Cash and cash equivalents          204,147                  -               204,147   204,147 -     -         204,147 
                                   871,906                  -               871,906   204,147 -     667,759   871,906 
Financial liabilities not measured 
at fair value 
Secured bank loans                 -                        959,410         959,410   -       -     959,410   959,410 
Related party borrowings           -                        4,218,063       4,218,063 -       -     4,218,063 4,218,063 
Lease liability                    -                        402,709         402,709   -       -     402,709   402,709 
Trade and other payables           -                        649,351         649,351   -       -     649,351   649,351 
                                   -                        6,229,533       6,229,533 -       -     6,229,533 6,229,533 

As at 30 June 2020 (unaudited)

                                  Carrying value                                  Fair value 
GBP unless stated                   Financial assets at                    Total      Level 1 Level Level 3    Total 
                                  amortised cost          financial                         2 
Financial assets not measured at 
fair value 
Trade and other receivables       132,622                 -              132,622    -       -     132,622    132,622 
Cash and cash equivalents         711,798                 -              711,798    711,798 -     -          711,798 
                                  844,420                 -              844,420    711,798 -     132,622    844,420 
Financial liabilities not 
measured at fair value 
Secured bank loans                -                       4,770,000      4,770,000  -       -     4,770,000  4,770,000 
Unsecured bank loans              -                       -              -          -       -     -          - 
Related party borrowings          -                       12,872,194     12,872,194 -       -     12,872,194 12,872,194 
Lease liability                   -                       140,971        140,971    -       -     140,971    140,971 
Trade and other payables          -                       666,014        666,014    -       -     666,014    666,014 
                                  -                       18,449,179     18,449,179 -       -     18,449,179 18,449,179 

Valuation technique and significant unobservable inputs

The following tables show the valuation techniques used in measuring Level 2 and Level 3 fair values for financial instruments in the statement of financial position, as well as the significant unobservable inputs used.

Financial instruments measured at fair value.

The valuation is equivalent to cost as it can be repaid at any time by the borrower and therefore no sensitivity is provided.

Financial risk management

The Group has exposure to the following risks arising from financial instruments:

-- Credit risk

-- Liquidity risk

-- Market risk

Risk management framework

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Groups risk management framework. The Board of Directors has established the risk management committee, which is responsible for developing and monitoring the Groups risk management policies. The committee reports regularly to the Board of Directors on its activities.

The Group's risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls and to monitor risks and adherence to limited. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group's activities. The Group, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

The Group audit committee oversees how management monitors compliance with the Group's risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Group.

Credit risk

Credit risk is the risk of financial loss where counterparties are not able to meet their obligations. Group policy is that surplus cash, when not used to repay borrowings, is placed on deposit with the Group's main relationship banks and with other banks or money market funds based on a minimum credit rating and maximum exposure.

The significant concentrations of credit risk are to related parties (refer notes 17, 18 and 25).

Management consider that the credit quality of the various receivables is good in respect of the amounts outstanding and therefore credit risk is considered to be low.

The carrying amount of financial assets represents the Group's maximum exposure to credit risk at the reporting date assuming that any security held has no value.

Cash and cash equivalents

The Group held cash and cash equivalents of 204,147 at 30 June 2021 (2020: 711,798).

Bank                  Amount held (GBP) Standard and Poor's Moody's Fitch 
Barclays Bank UK Plc  197,064         A                   A1      A+ 
Bank of China         4               A+                  AA3     A 
Santander Bank        6,445           A                   A2      A- 

The Group also holds petty cash of GBP634 as at 30 June 2021 (30 June 2020: GBP1,000).


The Group's policy is to provide financial guarantees only for subsidiaries' liabilities. At 30 June 2021, the Company has issued a guarantee to certain banks in respect of credit facilities granted to One Heritage Oscar House Limited GBP122,447 (30 June 2020: nil) and One Heritage Lincoln House Limited, GBP770,000 (30 June 2020: GBP770,000), subsidiaries, see note 20.

Liquidity risk

Liquidity risk is the risk that the Group does not have sufficient financial resources available to meet its obligations as they fall due. The Group manages liquidity risk by continuously monitoring forecast and actual cash flows, matching the expected cash flow timings of financial assets and liabilities with the use of cash and cash equivalents, borrowings, overdrafts and committed revolving credit facilities with a minimum of 12 months to maturity.

Future borrowing requirements are forecast on a monthly basis and funding headroom is maintained above forecast peak requirements to meet unforeseen events. At 30 June 2021, the Group's borrowings and facilities had a range of maturities with an average life of 19 months.

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October 20, 2021 02:00 ET (06:00 GMT)

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2020One Heritage Group PLC has completed an IPO in the amount of ú0.93 million.
More news
Sales 2021 0,46 M 0,61 M 0,61 M
Net income 2021 -0,81 M -1,07 M -1,07 M
Net Debt 2021 4,98 M 6,59 M 6,59 M
P/E ratio 2021 -33,1x
Yield 2021 -
Capitalization 13,9 M 18,4 M 18,4 M
EV / Sales 2020 -
EV / Sales 2021 82,3x
Nbr of Employees 20
Free-Float -
Duration : Period :
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Managers and Directors
Jason David Upton Chief Executive Officer & Executive Director
Markus Luke Piggin Finance Director
David Stewart Izett Independent Non-Executive Chairman
Hannah Oshea Operations Manager
Yiu Tak Cheung Executive Director & Chief Investment Officer