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REGISTERED NUMBER: 03955298 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

HSM ADVISORY LTD

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HSM ADVISORY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: The Hon Sir N P G Boardman
Mr I R Evans C.B.E.
Mr R J Gratton
Dr L C Gratton
MS Harriet Frances Rose Molyneaux





REGISTERED OFFICE: Ground Floor West
62-65 Chandos Place
London
WC2N 4HG





REGISTERED NUMBER: 03955298 (England and Wales)





ACCOUNTANTS: Green and Purple Limited
Building 1000 Cambridge Research Park
Beach Drive
Waterbeach
Cambridgeshire
CB25 9PD

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 46,820 47,225
Tangible assets 5 100,735 147,322
Investments 6 957,765 957,765
1,105,320 1,152,312

CURRENT ASSETS
Debtors 7 240,665 562,989
Cash at bank 373,590 409,690
614,255 972,679
CREDITORS
Amounts falling due within one year 8 (724,612 ) (1,104,663 )
NET CURRENT LIABILITIES (110,357 ) (131,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

994,963

1,020,328

PROVISIONS FOR LIABILITIES (24,803 ) (27,638 )
NET ASSETS 970,160 992,690

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 970,159 992,689
970,160 992,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

BALANCE SHEET - continued
31 MARCH 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:





Dr L C Gratton - Director


HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. Statutory information

HSM Advisory Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 provided on the following basis:

Fixtures and fittings - Between 20% and 25% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. Accounting policies - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 21 (2022 - 16 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 April 2022 53,250
Additions 12,150
At 31 March 2023 65,400
Amortisation
At 1 April 2022 6,025
Charge for year 12,555
At 31 March 2023 18,580
Net book value
At 31 March 2023 46,820
At 31 March 2022 47,225

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 April 2022 306,623
Additions 10,066
At 31 March 2023 316,689
Depreciation
At 1 April 2022 159,301
Charge for year 56,653
At 31 March 2023 215,954
Net book value
At 31 March 2023 100,735
At 31 March 2022 147,322

6. Fixed asset investments
Own
shares
£   
Cost
At 1 April 2022
and 31 March 2023 957,765
Net book value
At 31 March 2023 957,765
At 31 March 2022 957,765

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 198,892 426,484
Other debtors 41,773 136,505
240,665 562,989

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 17,292 134,369
Taxation and social security 143,036 197,757
Other creditors 564,284 772,537
724,612 1,104,663

9. Employee benefit trust shares

The £957,765 shown in investments is the company's contribution to an Employee Benefit Trust (EBT). Of this amount, £150,000 is deferred consideration and is included in other creditors (2022: £350,00). This will be settled in three monthly installments.

No options had been granted at the balance sheet date. When they are, the cost of this plan will be expensed to the profit and loss account on a straight line basis over the vesting period of the shares. The charge this year was £nil.