Registered number
11823361
HYPERCORTEX LIMITED
Filleted Accounts
31 May 2023
HYPERCORTEX LIMITED
Registered number: 11823361
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,592 3,161
Current assets
Debtors 4 8,582 2,809
Cash at bank and in hand 441 4,961
9,023 7,770
Creditors: amounts falling due within one year 5 (7,103) (4,500)
Net current assets 1,920 3,270
Total assets less current liabilities 4,512 6,431
Creditors: amounts falling due after more than one year 6 (4,143) (6,096)
Net assets 369 335
Capital and reserves
Called up share capital 100 100
Profit and loss account 269 235
Shareholders' funds 369 335
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hasan Caner BOZKURT
Director
Approved by the board on 9 February 2024
HYPERCORTEX LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value @ 18% per annum (reducing balance method).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Equipment
£
Cost
At 1 June 2022 3,855
At 31 May 2023 3,855
Depreciation
At 1 June 2022 694
Charge for the year 569
At 31 May 2023 1,263
Net book value
At 31 May 2023 2,592
At 31 May 2022 3,161
4 Debtors 2023 2022
£ £
Trade debtors 8,582 2,037
Other debtors - 772
8,582 2,809
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans (current liability) 2,215 2,130
Trade creditors 3,593 1,129
Taxation and social security costs 1,295 1,241
7,103 4,500
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans (non-current liability) 4,143 6,096
7 Other information
HYPERCORTEX LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
C/o - Unit 4 , Kinetica
13 Ramsgate Street
London
E8 2FD
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