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REGISTERED NUMBER: 10608545 (England and Wales)















Hylink (UK) Digital Solution Limited

Financial Statements

for the year ended

31 December 2023






Hylink (UK) Digital Solution Limited (Registered number: 10608545)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Hylink (UK) Digital Solution Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Ms K Feng
Mr T Su





REGISTERED OFFICE: The Shard
25th Floor
London Bridge Street
London
SE1 9SG





REGISTERED NUMBER: 10608545 (England and Wales)

Hylink (UK) Digital Solution Limited (Registered number: 10608545)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,491 13,805

CURRENT ASSETS
Debtors 5 436,483 822,742
Cash at bank 821,224 289,562
1,257,707 1,112,304
CREDITORS
Amounts falling due within one year 6 (962,921 ) (944,663 )
NET CURRENT ASSETS 294,786 167,641
TOTAL ASSETS LESS CURRENT LIABILITIES 313,277 181,446

PROVISIONS FOR LIABILITIES (4,623 ) -
NET ASSETS 308,654 181,446

CAPITAL AND RESERVES
Called up share capital 1,200,000 1,200,000
Retained earnings (891,346 ) (1,018,554 )
SHAREHOLDERS' FUNDS 308,654 181,446

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr T Su - Director


Hylink (UK) Digital Solution Limited (Registered number: 10608545)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Hylink (UK) Digital Solution Limited 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.

The presentation currency of the financial statements is in Pound Sterling (£) and the financial statements are rounded to the nearest Pound.

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.

Upon transition from IFRS to FRS102 1a on 1st January 2023, there was no impact on the prior year figures and therefore no reconciliations required as the comparative figures remain true and fair.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

Financial instruments
Basic financial instruments are measured at amortised cost. Financial instruments are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial assets nd substantially all the risks and rewards of ownership to the other entity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 23 (2022 - 35 ) .

Hylink (UK) Digital Solution Limited (Registered number: 10608545)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 10,763 37,396 48,159
Additions 339 14,822 15,161
Disposals (10,673 ) (23,691 ) (34,364 )
At 31 December 2023 429 28,527 28,956
DEPRECIATION
At 1 January 2023 9,315 25,039 34,354
Charge for year 89 8,937 9,026
Eliminated on disposal (9,224 ) (23,691 ) (32,915 )
At 31 December 2023 180 10,285 10,465
NET BOOK VALUE
At 31 December 2023 249 18,242 18,491
At 31 December 2022 1,448 12,357 13,805

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 360,437 587,467
Amounts owed by group undertakings 13,946 169,571
Other debtors 62,100 65,704
436,483 822,742

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,033 1,961
Amounts owed to group undertakings 167,462 107,878
Taxation and social security 168,618 148,536
Other creditors 617,808 686,288
962,921 944,663

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,359 10,359

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Andrew John Griggs (Senior Statutory Auditor)
for and on behalf of Beaumont Seymour

Hylink (UK) Digital Solution Limited (Registered number: 10608545)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. RELATED PARTY DISCLOSURES

A director has provided the Company an interest-free loan which is repayable on demand. At the year end, the amount outstanding was £134,000 (2022: £400,000).

10. RECLASSIFICATIONS

The following reclassifications have been made to the Statement of Financial Position and Statement of Profit or Loss:

- Directors remuneration of £26,400 has been reclassified from administrative wages in order to disclose the amounts
separately.
- The directors loan account balance of £400,000 as at 31 December 2022 has been reclassified from amounts owed to
group undertakings. This relates to a balance owed to Ms K Feng.
- The balance due from Hylink Investment Holdings Co. Ltd of £159,624 as at 31 December 2022 has been reclassified
from unpaid share capital to amounts due from group undertakings.
- The balance due to Hylink Hyfashion Digital Technology Co. Ltd of £107,878 as at 31 December 2022 has been
reclassified from accruals to amounts due to group undertakings.