Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Y L Tyler-Bennett 31/01/2017 20 February 2024 The principal activity of the company is outplacement and human resources consultancy. 01981354 2023-12-31 01981354 bus:Director1 2023-12-31 01981354 2022-12-31 01981354 core:CurrentFinancialInstruments 2023-12-31 01981354 core:CurrentFinancialInstruments 2022-12-31 01981354 core:ShareCapital 2023-12-31 01981354 core:ShareCapital 2022-12-31 01981354 core:RetainedEarningsAccumulatedLosses 2023-12-31 01981354 core:RetainedEarningsAccumulatedLosses 2022-12-31 01981354 core:Goodwill 2022-12-31 01981354 core:Goodwill 2023-12-31 01981354 core:FurnitureFittings 2022-12-31 01981354 core:OfficeEquipment 2022-12-31 01981354 core:FurnitureFittings 2023-12-31 01981354 core:OfficeEquipment 2023-12-31 01981354 2023-01-01 2023-12-31 01981354 bus:FilletedAccounts 2023-01-01 2023-12-31 01981354 bus:SmallEntities 2023-01-01 2023-12-31 01981354 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01981354 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01981354 bus:Director1 2023-01-01 2023-12-31 01981354 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 01981354 core:FurnitureFittings 2023-01-01 2023-12-31 01981354 core:OfficeEquipment 2023-01-01 2023-12-31 01981354 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 01981354 (England and Wales)

HDA ASSOCIATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

HDA ASSOCIATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

HDA ASSOCIATES LIMITED

BALANCE SHEET

As at 31 December 2023
HDA ASSOCIATES LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 2,997 2,643
Investments 83 83
3,080 2,726
Current assets
Debtors 5 17,299 22,539
Cash at bank and in hand 386,425 360,195
403,724 382,734
Creditors: amounts falling due within one year 6 ( 63,737) ( 53,758)
Net current assets 339,987 328,976
Total assets less current liabilities 343,067 331,702
Provision for liabilities ( 535) ( 502)
Net assets 342,532 331,200
Capital and reserves
Called-up share capital 330,794 330,794
Profit and loss account 11,738 406
Total shareholder's funds 342,532 331,200

For the financial year ending 31 December 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 financial statements of HDA Associates Limited (registered number: 01981354) were approved and authorised for issue by the Director on 20 February 2024. They were signed on its behalf by:

Y L Tyler-Bennett
Director
HDA ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
HDA ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HDA Associates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are
retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company

Taxation

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.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [ reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2023 400,000 400,000
At 31 December 2023 400,000 400,000
Accumulated amortisation
At 01 January 2023 400,000 400,000
At 31 December 2023 400,000 400,000
Net book value
At 31 December 2023 0 0
At 31 December 2022 0 0

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2023 29,159 77,931 107,090
Additions 479 578 1,057
At 31 December 2023 29,638 78,509 108,147
Accumulated depreciation
At 01 January 2023 29,121 75,326 104,447
Charge for the financial year 40 663 703
At 31 December 2023 29,161 75,989 105,150
Net book value
At 31 December 2023 477 2,520 2,997
At 31 December 2022 38 2,605 2,643

5. Debtors

2023 2022
£ £
Trade debtors 17,010 22,279
Other debtors 289 260
17,299 22,539

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 542 124
Taxation and social security 16,747 23,580
Other creditors 46,448 30,054
63,737 53,758