Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31false12022-01-01falseNo description of principal activitytrue1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09763550 2022-01-01 2022-12-31 09763550 2021-01-01 2021-12-31 09763550 2022-12-31 09763550 2021-12-31 09763550 c:Director1 2022-01-01 2022-12-31 09763550 d:CurrentFinancialInstruments 2022-12-31 09763550 d:CurrentFinancialInstruments 2021-12-31 09763550 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09763550 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09763550 d:ShareCapital 2022-12-31 09763550 d:ShareCapital 2021-12-31 09763550 d:RetainedEarningsAccumulatedLosses 2022-12-31 09763550 d:RetainedEarningsAccumulatedLosses 2021-12-31 09763550 c:FRS102 2022-01-01 2022-12-31 09763550 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 09763550 c:FullAccounts 2022-01-01 2022-12-31 09763550 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09763550










HYGITECH LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
HYGITECH LIMITED
REGISTERED NUMBER: 09763550

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors
 4 
79,734
59,130

Cash at bank and in hand
 5 
219,342
353,638

  
299,076
412,768

Creditors: amounts falling due within one year
 6 
(170,129)
(286,491)

Net current assets
  
 
 
128,947
 
 
126,277

Total assets less current liabilities
  
128,947
126,277

  

Net assets
  
128,947
126,277


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
128,946
126,276

  
128,947
126,277


The director considers 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 director acknowledges his 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 on 23 October 2023.




Michael Stemmer
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
HYGITECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The Company is a private company, limited by shares, registered in England and Wales. The address of the registered office is Becket House, C/O Ccfgb, 1 Lambeth Palace Road, London SE1 7EU and the registered number is 09763550.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
HYGITECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
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 balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
HYGITECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Debtors

2022
2021
£
£



Trade debtors
79,733
58,861

Amounts owed by group undertakings and undertakings in which the company has a participating interest
1
1

Other debtors
-
268

79,734
59,130



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
219,342
353,638



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
100,580
130,927

Corporation tax
15,978
20,079

Other taxation and social security
50,993
47,611

Accruals and deferred income
2,578
87,874

170,129
286,491


Page 4

 
HYGITECH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Controlling party

The ultimate parent company and controlling party is Hygitech Holding SARL, a company registered in Belguim. The Company is under the control of Michael Stemmer, the managing director, who controls the majority of the share capital.


Page 5