HP TECHNOLOGIES GROUP LIMITED

Company Registration Number:
12046436 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

HP TECHNOLOGIES GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

HP TECHNOLOGIES GROUP LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Called up share capital not paid: 100 100
Fixed assets
Intangible assets: 3 848,155 722,008
Tangible assets: 4 113,888 71,352
Investments: 5 305,202 335,000
Total fixed assets: 1,267,245 1,128,360
Current assets
Stocks: 48,105 21,450
Debtors: 6 108,330 64,150
Cash at bank and in hand: 625,880 402,590
Investments:   18,690 58,663
Total current assets: 801,005 546,853
Creditors: amounts falling due within one year:   (64,412) (394,850)
Net current assets (liabilities): 736,593 152,003
Total assets less current liabilities: 2,003,938 1,280,463
Creditors: amounts falling due after more than one year:   (162,300) (98,603)
Provision for liabilities: (8,650) 0
Total net assets (liabilities): 1,832,988 1,181,860
Capital and reserves
Called up share capital: 592,221 324,821
Other reserves: 605,159 532,318
Profit and loss account: 635,608 324,721
Shareholders funds: 1,832,988 1,181,860

The notes form part of these financial statements

HP TECHNOLOGIES GROUP LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 March 2024
and signed on behalf of the board by:

Name: Isaac Zagbe
Status: Director

The notes form part of these financial statements

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

1. IntroductionHP TECHNOLOGIES GROUP LIMITED (hereinafter referred to as "the Company") recognizes the importance of managing turnover effectively to maintain operational efficiency and continuity. This turnover policy outlines the procedures and guidelines for managing employee turnover within the Company.2. ObjectiveThe objective of this policy is to minimize turnover rates, retain valuable employees, and ensure smooth transitions when employees depart from the Company.3. Turnover DefinitionTurnover is defined as the voluntary or involuntary separation of an employee from the Company, including resignation, termination, retirement, or any other form of employment separation.4. Retention StrategiesThe Company is committed to implementing retention strategies to minimize turnover rates. These strategies may include:- Competitive compensation and benefits packages.- Professional development and career advancement opportunities.- Recognition and rewards programs.- Flexible work arrangements.- A positive work environment that promotes work-life balance and employee well-being.5. Exit Proceduresa. Resignation: - Employees who intend to resign must provide written notice to their immediate supervisor and Human Resources department at least 15 days in advance. - HR will conduct an exit interview to gather feedback and insights from departing employees.b. Termination: - Terminations will be conducted in accordance with the Company's disciplinary procedures and applicable employment laws. - HR will provide terminated employees with information regarding their final paycheck, benefits continuation, and any other relevant matters.6. Knowledge TransferUpon an employee's departure, the Company will ensure a smooth knowledge transfer process to mitigate the impact of turnover. This may include:- Documenting job responsibilities, processes, and procedures.- Providing training to existing employees or hiring replacements.- Assigning a mentor or point of contact for the transitioning employee's duties.7. ConfidentialityThe Company will maintain confidentiality regarding the reasons for an employee's departure, except as required by law or with the employee's consent.8. ComplianceThis turnover policy complies with all applicable employment laws and regulations.9. Review and RevisionThis turnover policy will be reviewed periodically and may be revised as needed to ensure its effectiveness and alignment with the Company's objectives.10. CommunicationThis turnover policy will be communicated to all employees upon hiring and made available in the Company's employee handbook or intranet.11. EnforcementFailure to comply with this turnover policy may result in disciplinary action, up to and including termination of employment.12. Contact InformationFor questions or concerns regarding this turnover policy, employees may contact the Human Resources department.

Tangible fixed assets and depreciation policy

1. PurposeThe purpose of this policy is to establish guidelines for the depreciation of tangible fixed assets owned by HP TECHNOLOGIES GROUP LIMITED (hereinafter referred to as "the Company"). This policy ensures consistent and accurate accounting treatment of tangible fixed assets in accordance with generally accepted accounting principles (GAAP).2. ScopeThis policy applies to all tangible fixed assets owned and used by the Company in its operations.3. Depreciation MethodThe Company will use the straight-line method to calculate depreciation for tangible fixed assets. Under this method, the cost of the asset, less its estimated residual value, is allocated evenly over its useful life.4. Useful LifeThe useful life of tangible fixed assets will be determined based on industry standards, historical experience, and any applicable regulations. The following are commonly used estimates for the useful life of tangible fixed assets:- Buildings: 25-40 years- Machinery and Equipment: 5-15 years- Furniture and Fixtures: 5-10 years- Vehicles: 3-8 years5. Residual ValueThe residual value of tangible fixed assets will be estimated at the time of acquisition and reviewed periodically for any changes in market conditions or asset usage. Residual value represents the estimated value of the asset at the end of its useful life and is used to calculate depreciation expense.6. Depreciation CalculationDepreciation expense will be calculated on a monthly basis using the following formula:Depreciation Expense = (Cost of Asset - Residual Value) / Useful Life7. Depreciation RecognitionDepreciation expense will be recognized in the Company's financial statements in the appropriate expense accounts (e.g., depreciation expense) and accumulated depreciation will be recorded as a contra-asset account.8. Review and AdjustmentThe useful life and residual value of tangible fixed assets will be reviewed periodically and adjusted if necessary to reflect changes in asset usage, technological advancements, or other relevant factors.9. Disposal of AssetsWhen tangible fixed assets are disposed of, the Company will recognize any gain or loss on disposal in the financial statements. The gain or loss will be calculated as the difference between the net proceeds from the disposal and the carrying amount of the asset.10. ComplianceThis Tangible Fixed Assets Depreciation Policy complies with all relevant accounting standards and regulations, including GAAP.11. CommunicationThis policy will be communicated to all relevant personnel responsible for the acquisition, maintenance, and disposal of tangible fixed assets.12. EnforcementFailure to comply with this policy may result in disciplinary action in accordance with the Company's policies and procedures.13. Contact InformationFor questions or clarifications regarding this policy, employees may contact the Finance department.

Intangible fixed assets and amortisation policy

1. PurposeThe purpose of this policy is to establish guidelines for the amortization of intangible fixed assets owned by HP TECHNOLOGIES GROUP LIMITED (hereinafter referred to as "the Company"). This policy ensures consistent and accurate accounting treatment of intangible fixed assets in accordance with generally accepted accounting principles (GAAP).2. ScopeThis policy applies to all intangible fixed assets owned and used by the Company in its operations.3. Amortization MethodThe Company will use the straight-line method to calculate amortization for intangible fixed assets. Under this method, the cost of the intangible asset, less its estimated residual value, is allocated evenly over its useful life.4. Useful LifeThe useful life of intangible fixed assets will be determined based on industry standards, historical experience, and any applicable regulations. The following are common useful life estimates for different types of intangible assets:- Software: 3-7 years- Patents: 10-20 years- Trademarks: Indefinite (subject to impairment testing)- Customer Relationships: 5-20 years5. Residual ValueThe residual value of intangible fixed assets will be estimated at the time of acquisition and reviewed periodically for any changes in market conditions or asset usage. Residual value represents the estimated value of the asset at the end of its useful life and is used to calculate amortization expense.6. Amortization CalculationAmortization expense will be calculated on a monthly basis using the following formula:Amortization Expense = (Cost of Intangible Asset - Residual Value) / Useful Life7. Amortization RecognitionAmortization expense will be recognized in the Company's financial statements in the appropriate expense accounts (e.g., amortization expense) and accumulated amortization will be recorded as a contra-asset account.8. Review and AdjustmentThe useful life and residual value of intangible fixed assets will be reviewed periodically and adjusted if necessary to reflect changes in asset usage, technological advancements, or other relevant factors.9. Impairment TestingIntangible assets with indefinite useful lives, such as trademarks, will be subject to impairment testing at least annually or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.10. Disposal of AssetsWhen intangible fixed assets are disposed of, the Company will recognize any gain or loss on disposal in the financial statements. The gain or loss will be calculated as the difference between the net proceeds from the disposal and the carrying amount of the asset.11. ComplianceThis Intangible Fixed Assets Amortization Policy complies with all relevant accounting standards and regulations, including GAAP.12. CommunicationThis policy will be communicated to all relevant personnel responsible for the acquisition, maintenance, and disposal of intangible fixed assets.13. EnforcementFailure to comply with this policy may result in disciplinary action in accordance with the Company's policies and procedures.14. Contact InformationFor questions or clarifications regarding this policy, employees may contact the Finance department.

Valuation and information policy

1. PurposeThe purpose of this policy is to establish guidelines for the valuation of assets and liabilities owned or held by HP TECHNOLOGIES GROUP LIMITED (hereinafter referred to as "the Company"). This policy ensures transparency, consistency, and accuracy in the valuation process, in compliance with relevant accounting standards and regulations.2. ScopeThis policy applies to all assets and liabilities that require periodic valuation, including but not limited to tangible fixed assets, intangible assets, investments, inventory, and financial instruments.3. Valuation Principlesa. Fair Value: The Company will use fair value as the primary basis for valuing assets and liabilities, in accordance with applicable accounting standards (e.g., International Financial Reporting Standards - IFRS).b. Market-based Inputs: Valuations will be based on observable market data whenever possible. If market data is not available, the Company will use the best available information and estimation techniques to determine fair value.c. Independence and Objectivity: Valuations will be conducted by qualified and independent personnel or third-party valuation experts to ensure objectivity and impartiality.d. Consistency: Valuation methodologies and assumptions will be applied consistently across similar assets and liabilities to ensure comparability and reliability of financial information.4. Valuation MethodsThe Company may use various valuation methods depending on the nature of the asset or liability, including but not limited to:- Market Approach: Comparing the asset or liability to similar assets or liabilities in active markets.- Income Approach: Estimating the present value of future cash flows generated by the asset or liability.- Cost Approach: Determining the value of the asset based on the cost to replace or reproduce it.5. Valuation FrequencyAssets and liabilities will be valued periodically in accordance with applicable accounting standards and regulatory requirements. The frequency of valuation may vary depending on the nature and materiality of the asset or liability.6. Documentation and Disclosurea. Documentation: The Company will maintain comprehensive documentation of the valuation process, including the methods used, assumptions made, data sources, and any significant judgments or estimates.b. Disclosure: Valuation information will be disclosed in the Company's financial statements, footnotes, and other relevant disclosures in accordance with applicable accounting standards and regulatory requirements.7. Review and ApprovalValuation results will be reviewed and approved by management or the Board of Directors to ensure accuracy, reliability, and compliance with this policy.8. ConfidentialityValuation information will be treated as confidential and disclosed only to authorized personnel or third parties as required by law or regulation.9. ComplianceThis Valuation Information Policy complies with all relevant accounting standards, regulations, and internal control requirements.10. CommunicationThis policy will be communicated to all relevant personnel involved in the valuation process, including finance, accounting, and senior management.11. EnforcementFailure to comply with this policy may result in disciplinary action in accordance with the Company's policies and procedures.12. Contact InformationFor questions or clarifications regarding this policy, employees may contact the Finance department.

Other accounting policies

1. Revenue Recognition Policy: - Outline criteria for recognizing revenue from sales of goods or services. - Specify when revenue is recognized, such as at the point of sale, delivery, or completion of services. - Address accounting for multiple-element arrangements, sales with rights of return, and revenue from contracts with customers.2. Inventory Valuation Policy: - Determine the method of inventory valuation (e.g., FIFO, LIFO, weighted average). - Specify how inventory costs are determined, including direct costs and allocated overhead. - Address the treatment of obsolete or slow-moving inventory.3. Expense Recognition Policy: - Define criteria for recognizing expenses in the financial statements. - Specify when expenses are recognized, such as when goods or services are consumed or when obligations are incurred. - Address the treatment of prepaid expenses, accruals, and provisions for contingent liabilities.4. Financial Reporting Policy: - Establish guidelines for preparing and presenting financial statements in accordance with applicable accounting standards. - Specify the format and content of financial statements, including balance sheet, income statement, statement of cash flows, and notes to the financial statements. - Address disclosure requirements for significant accounting policies, estimates, and uncertainties.5. Cash Management Policy: - Define procedures for managing cash inflows and outflows, including cash receipts, disbursements, and liquidity management. - Specify authorization levels for cash transactions and segregation of duties. - Address investment policies for idle cash and short-term investments.6. Debt Management Policy: - Outline guidelines for managing debt obligations, including borrowing limits, terms, and covenants. - Specify procedures for evaluating and obtaining financing options, such as bank loans, bonds, or lines of credit. - Address strategies for debt repayment and refinancing.7. Capitalization Policy: - Define criteria for capitalizing expenditures as assets, such as property, plant, and equipment (PP&E), intangible assets, or software development costs. - Specify capitalization thresholds and criteria for determining the useful life of capitalized assets. - Address the treatment of capital versus operating leases and lease accounting under applicable standards (e.g., IFRS 16, ASC 842).8. Taxation Policy: - Outline the Company's approach to tax planning, compliance, and reporting. - Specify procedures for calculating and recording income taxes, including deferred tax assets and liabilities. - Address tax implications of business operations, acquisitions, and other transactions.9. Internal Control Policy: - Establish procedures for maintaining effective internal controls over financial reporting (ICFR). - Specify roles and responsibilities for control activities, monitoring, and reporting. - Address segregation of duties, authorization levels, and documentation requirements.10. Risk Management Policy: - Outline the Company's approach to identifying, assessing, and mitigating financial risks. - Specify procedures for managing risks related to currency exchange, interest rates, credit, liquidity, and market volatility. - Address compliance with risk management regulations and internal risk appetite.

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 19 16

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible Assets

Total
Cost £
At 01 July 2022 722,008
Additions 126,147
At 30 June 2023 848,155
Net book value
At 30 June 2023 848,155
At 30 June 2022 722,008

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible Assets

Total
Cost £
At 01 July 2022 71,352
Additions 42,536
At 30 June 2023 113,888
Net book value
At 30 June 2023 113,888
At 30 June 2022 71,352

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Fixed investments

1. Description of InvestmentsFixed investments consist primarily of long-term equity investments in other companies and strategic partnerships held by HP TECHNOLOGIES GROUP LIMITED (the "Company"). These investments are classified as non-current assets on the balance sheet.2. Accounting TreatmentFixed investments are initially recognized at cost, which includes the purchase price and any directly attributable acquisition costs. Subsequently, investments are measured at fair value through profit or loss (FVTPL) in accordance with International Financial Reporting Standards (IFRS).3. Valuation MethodologyThe fair value of fixed investments is determined using market-based valuation techniques, including quoted market prices in active markets whenever available. When quoted market prices are not available, fair value is estimated using valuation models, such as discounted cash flow analysis, comparable company analysis, or other appropriate methods.4. Changes in Fair ValueChanges in the fair value of fixed investments are recognized in profit or loss in the period in which they occur. These changes are reported as gains or losses on the income statement under the line item "Gains/(Losses) on Investments."5. ImpairmentFixed investments are assessed for impairment at each reporting date to determine if there is any indication of a significant or prolonged decline in their fair value. If such impairment indicators exist, the recoverable amount of the investment is estimated, and any impairment loss is recognized in profit or loss.6. Dividend IncomeDividend income from fixed investments is recognized in profit or loss when the right to receive payment is established, typically when the dividend is declared by the investee company.7. DisclosureThe fair value of fixed investments is disclosed in the notes to the financial statements. Additional disclosures may include information about the nature and extent of the Company's investments, significant ownership interests, and any restrictions on the ability to access or dispose of these investments.8. Risks and UncertaintiesInvestments in equity securities are subject to market risks, including fluctuations in market prices and changes in economic conditions. The Company regularly monitors the performance of its investments and assesses the impact of market conditions on their fair value.

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Debtors

2023 2022
££
Debtors due after more than one year: 108,330 64,150

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Financial commitments

1. Description of Financial CommitmentsHP TECHNOLOGIES GROUP LIMITED (the "Company") has entered into various financial commitments that may impact its future financial position and cash flows. These commitments primarily consist of contractual obligations to make future payments for goods, services, leases, and other arrangements.2. Nature of CommitmentsFinancial commitments include, but are not limited to:- Operating leases for office space, equipment, and other facilities.- Purchase commitments for inventory, raw materials, and supplies.- Long-term contracts with suppliers, service providers, and other vendors.- Debt obligations, including principal repayments and interest payments on borrowings.- Commitments related to capital expenditures, research and development projects, and other strategic initiatives.3. Timing and AmountsFinancial commitments are generally payable over time, with payment terms and schedules specified in the respective contractual agreements. The timing and amounts of future payments depend on various factors, including the nature and duration of the commitments, contractual terms, and business requirements.4. Operating LeasesThe Company leases certain assets, such as office space, equipment, and vehicles, under operating lease agreements. These leases typically have fixed rental payments and renewal options. The future minimum lease payments under non-cancellable operating leases are disclosed in accordance with accounting standards.5. Purchase CommitmentsThe Company has entered into purchase commitments for inventory, raw materials, and supplies to support its operations. These commitments represent contractual obligations to purchase goods or services at specified prices and quantities over a defined period.6. Debt ObligationsThe Company has outstanding debt obligations, including principal repayments and interest payments on borrowings. The future principal repayments and interest payments under existing debt agreements are disclosed in the notes to the financial statements.7. DisclosureThe Company discloses the nature, timing, and amounts of its financial commitments in the notes to the financial statements. Additional disclosures may include the maturity profile of commitments, significant contractual terms, and other relevant information.8. Risks and UncertaintiesFinancial commitments expose the Company to various risks and uncertainties, including changes in market conditions, supplier performance, and regulatory requirements. The Company evaluates and manages these risks as part of its ongoing business operations and financial planning activities.

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

8. Post balance sheet events

1. Reporting PeriodThe financial statements of HP TECHNOLOGIES GROUP LIMITED (the "Company") cover the period ending 30 June 2024. Subsequent events that occur after the end of the reporting period but before the financial statements are authorized for issue are considered post balance sheet events.2. Definition of Post Balance Sheet EventsPost balance sheet events are those significant events or transactions that occur between the end of the reporting period and the date when the financial statements are authorized for issue. These events may have a material impact on the financial position or performance of the Company and require disclosure in the financial statements.3. Evaluation of Post Balance Sheet EventsManagement evaluates post balance sheet events to determine their significance and impact on the financial statements. Events that provide additional evidence about conditions that existed at the end of the reporting period (adjusting events) are reflected in the financial statements. Events that occur after the end of the reporting period and do not relate to conditions that existed at that date (non-adjusting events) are disclosed in the notes to the financial statements.4. Examples of Adjusting EventsExamples of adjusting events may include:- Settlement of litigation or legal claims that were pending at the end of the reporting period.- The determination of the purchase price allocation for business combinations that occurred after the reporting period.- The resolution of uncertainties related to the collectibility of receivables or the valuation of inventory.5. Examples of Non-Adjusting EventsExamples of non-adjusting events may include:- Business acquisitions or disposals that occur after the end of the reporting period.- Significant changes in market conditions, such as economic downturns or changes in interest rates.- Natural disasters or other catastrophic events that occur after the reporting period.6. DisclosureIn accordance with applicable accounting standards, the Company discloses material post balance sheet events in the notes to the financial statements. This disclosure includes a description of the nature of the event, its financial impact (if determinable), and any related uncertainties or contingencies.7. Authorization for IssueThe financial statements are authorized for issue by HP INTERNATIONAL LLC on 30th of March 2024, which represents the date when post balance sheet events are evaluated for disclosure.

HP TECHNOLOGIES GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

9. Off balance sheet arrangements

1. Definition of Off-Balance Sheet ArrangementsOff-balance sheet arrangements are contractual agreements, transactions, or other arrangements that involve the Company but are not recognized in the balance sheet. These arrangements typically involve financial commitments, contingent liabilities, or other obligations that may impact the Company's financial position and cash flows.2. Types of Off-Balance Sheet ArrangementsOff-balance sheet arrangements may include, but are not limited to:- Operating leases for office space, equipment, and other facilities.- Joint ventures, partnerships, and other equity investments in entities that are not consolidated.- Guarantees, indemnifications, or other financial support provided to third parties.- Special purpose entities (SPEs) or structured finance transactions.3. Operating LeasesThe Company enters into operating lease agreements for office space, equipment, and other facilities. These leases typically involve fixed rental payments and may include renewal options or other contractual terms.4. Joint Ventures and Equity InvestmentsThe Company may participate in joint ventures, partnerships, or other equity investments in entities that are not consolidated. These investments may involve ownership interests in other companies or strategic partnerships to pursue business opportunities.5. Guarantees and IndemnificationsThe Company may provide guarantees, indemnifications, or other financial support to third parties in connection with various transactions, such as loans, leases, or contractual obligations. These arrangements may expose the Company to potential liabilities or obligations in the event of default by the counterparty.6. Special Purpose EntitiesThe Company may establish special purpose entities (SPEs) or engage in structured finance transactions for specific business purposes, such as financing arrangements or risk management strategies. These entities are typically structured to achieve specific objectives while minimizing their impact on the Company's balance sheet.7. DisclosureIn accordance with applicable accounting standards and regulatory requirements, the Company discloses material off-balance sheet arrangements in the notes to the financial statements. This disclosure includes a description of the nature of the arrangements, their financial impact (if determinable), and any related risks or uncertainties.8. Risks and UncertaintiesOff-balance sheet arrangements expose the Company to various risks and uncertainties, including credit risk, market risk, and legal or regulatory risk. The Company evaluates and manages these risks as part of its ongoing business operations and financial planning activities.