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Registration number: 10979510

HSAA Consulting Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 March 2023

HSAA Consulting Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 9

HSAA Consulting Limited

Company Information

Directors | Mr Harish Kumar Dass Mrs Satwinder Kaur Dass

Registered office | 65 Delamere Road Hayes UB4 0NN

Accountants | Aventus Partners Limited Hygeia Building Ground Floor 66-68 College Road Harrow Middlesex HA1 1BE

HSAA Consulting Limited

(Registration number: 10979510)
Balance Sheet as at 30 March 2023

| Note | 2023 £ | 2022 £
Current assets |  |  |
Debtors | 4 | 91,000 | 90,057
Cash at bank and in hand |  | 4,233 | 835
|  | 95,233 | 90,892
Creditors: Amounts falling due within one year | 5 | (30,300) | (12,971)
Total assets less current liabilities |  | 64,933 | 77,921
Creditors: Amounts falling due after more than one year | 5 | (16,250) | (23,750)
Net assets |  | 48,683 | 54,171
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | 48,583 | 54,071
Shareholders' funds |  | 48,683 | 54,171

For the financial year ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

These financial statements were approved and authorised for issue by the Board on 3 October 2023 and signed on its behalf by:

......................................... Mr Harish Kumar Dass Director

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
65 Delamere Road
Hayes
UB4 0NN
United Kingdom

These financial statements were authorised for issue by the Board on 3 October 2023.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are accounted under the accruals model as permitted by FRS102. Grants of revenue nature are recognised in the financial statements in the same period as the related expenditure.

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

2 | Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

2 | Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.
Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.
Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are
measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.
For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2022: 2).

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

4 | Debtors

| Note | 2023 £ | 2022 £
Trade debtors |  | 3,000 | 2,000
Other debtors | 8 | 88,000 | 88,057
Total current trade and other debtors |  | 91,000 | 90,057

5 | Creditors

Creditors: amounts falling due within one year

| Note | 2023 £ | 2022 £
Due within one year |  |  |
Bank loans and overdrafts | 6 | 7,500 | 7,500
Trade creditors |  | 678 | 1,027
Amounts owed to group undertakings | 8 | 13,164 | 2,014
Taxation and social security |  | 793 | -
Other creditors |  | 1,167 | 583
Accrued expenses |  | 600 | 600
Corporation tax payable |  | - | 160
Directors current account |  | 6,398 | 1,087
|  | 30,300 | 12,971
Due after one year |  |  |
Loans and borrowings | 6 | 16,250 | 23,750

6 | Loans and borrowings

Bank borrowings consists of a government-backed Bounce Back Loan with a repayment term of 6 years from June 2021. The interest rate applicable to the loan is 2.5% with the first 12 months interest being covered by the government.

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

6 | Loans and borrowings (continued)

| 2023 £ | 2022 £
Current loans and borrowings
Bank borrowings | 7,500 | 7,500

| 2023 £ | 2022 £
Non-current loans and borrowings
Bank borrowings | 16,250 | 23,750

7 | Share capital

Allotted, called up and fully paid shares

| 2023 | 2022
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

8 | Related party transactions

The Company has taken advantage of the exemptions available in FRS 102 1A from disclosing related party transactions with other companies that are wholly owned within the Group.

Summary of transactions with parent

At the balance sheet date the company owed HSAA Group limited £13,164 (2021: £2,014). The loan is interest free, unsecured and with no fixed terms of repayment.

Summary of transactions with other related parties

The company has provided funding to Sonha properties Limited, a company incorporated in England and Wales. Mr Harish Dass is also company director of Sonha Properties Limited. At the balance sheet date the amount owed to the company by Sonha properties Limited was £88,000 (2021: £88,000). The loan is interest free, unsecured and with no fixed terms of repayment.

Directors' remuneration

The directors' remuneration for the year was as follows:

HSAA Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023 (continued)

8 | Related party transactions (continued)

| 2023 £ | 2022 £
Remuneration | 7,060 | 7,666
Contributions paid to money purchase schemes | 2,500 | 3,000
| 9,560 | 10,666

9 | Parent and ultimate parent undertaking

The company's immediate parent is HSAA Group Limited, incorporated in England and Wales.
The ultimate controlling party is Mr Harish Dass.