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REGISTERED NUMBER: 12054264 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Hbsy Ltd

Hbsy Ltd (Registered number: 12054264)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hbsy Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Dr H R H Alkhazaraji
Mrs B M Maraveyas





REGISTERED OFFICE: Solent House
107a Alma Road
Portswood
Southampton
Hampshire
SO14 6UY





REGISTERED NUMBER: 12054264 (England and Wales)





ACCOUNTANTS: Thomas Croft Limited
Accountants And Taxation Consultants
Solent House
107a Alma Road
Portswood
Southampton
Hampshire
SO14 6UY

Hbsy Ltd (Registered number: 12054264)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 4,000
Tangible assets 5 1,904 956
1,904 4,956

CURRENT ASSETS
Stocks 6 9,620 1,690
Debtors 7 903 1,005
Cash at bank 319,239 266,202
329,762 268,897
CREDITORS
Amounts falling due within one year 8 24,645 30,763
NET CURRENT ASSETS 305,117 238,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

307,021

243,090

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 306,921 242,990
SHAREHOLDERS' FUNDS 307,021 243,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hbsy Ltd (Registered number: 12054264)

Balance Sheet - continued
30 June 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Dr H R H Alkhazaraji - Director


Hbsy Ltd (Registered number: 12054264)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Hbsy Ltd 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Hbsy Ltd (Registered number: 12054264)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 2 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 20,000
AMORTISATION
At 1 July 2023 16,000
Amortisation for year 4,000
At 30 June 2024 20,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 4,000

Hbsy Ltd (Registered number: 12054264)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 - 4,041 4,041
Additions 518 1,413 1,931
At 30 June 2024 518 5,454 5,972
DEPRECIATION
At 1 July 2023 - 3,085 3,085
Charge for year 97 886 983
At 30 June 2024 97 3,971 4,068
NET BOOK VALUE
At 30 June 2024 421 1,483 1,904
At 30 June 2023 - 956 956

6. STOCKS
30.6.24 30.6.23
£    £   
Work-in-progress 9,620 1,690

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Prepayments 903 1,005

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Corporation tax 19,791 26,012
Social security and other taxes 232 -
Other creditors - 2,000
Wages control account 1,000 -
Directors' current accounts 2,423 1,671
Accrued expenses 1,199 1,080
24,645 30,763

Hbsy Ltd (Registered number: 12054264)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
51 Ordinary A £1 51 51
49 Ordinary B £1 49 49
100 100

10. RESERVES
Retained
earnings
£   

At 1 July 2023 242,990
Profit for the year 65,931
Dividends (2,000 )
At 30 June 2024 306,921

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Dr H R H Alkhazaraji
Balance outstanding at start of year (1,671 ) (2,265 )
Amounts advanced 2,118 3,016
Amounts repaid (1,870 ) (2,422 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,423 ) (1,671 )

Mrs B M Maraveyas
Balance outstanding at start of year - -
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,000 ) -

Hbsy Ltd (Registered number: 12054264)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. RELATED PARTY DISCLOSURES

The company was under the control of Dr H R H Alkhazaraji throughout the current period. Dr H R H Alkhazaraji is the managing director and majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed under Section 1A (Small Entities) for Financial Reporting Standard 102.