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REGISTERED NUMBER: 03955298 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HSM ADVISORY LTD

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HSM ADVISORY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: The Hon Sir N P G Boardman
Mr I R Evans C.B.E.
Mr R J Gratton
Dr L C Gratton
Ms H F R Molyneaux





REGISTERED OFFICE: Ground Floor West
62-65 Chandos Place
London
WC2N 4HG





REGISTERED NUMBER: 03955298 (England and Wales)





ACCOUNTANTS: Green and Purple Limited
Building 1000
Cambridge Research Park
Waterbeach
Cambridgeshire
CB25 9PD

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 33,740 46,820
Tangible assets 5 72,358 100,735
Investments 6 957,765 957,765
1,063,863 1,105,320

CURRENT ASSETS
Debtors 7 181,569 240,665
Cash at bank 281,176 373,590
462,745 614,255
CREDITORS
Amounts falling due within one year 8 (356,721 ) (724,612 )
NET CURRENT ASSETS/(LIABILITIES) 106,024 (110,357 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,169,887

994,963

PROVISIONS FOR LIABILITIES (18,090 ) (24,803 )
NET ASSETS 1,151,797 970,160

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,151,796 970,159
1,151,797 970,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

BALANCE SHEET - continued
31 MARCH 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 4 October 2024 and were signed on its behalf by:





Dr L C Gratton - Director


HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

HSM Advisory 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.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures and fittings - Between 20% and 25% Straight line

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.

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. Accounting policies - continued

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 19 (2023 - 21 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 April 2023
and 31 March 2024 65,400
Amortisation
At 1 April 2023 18,580
Charge for year 13,080
At 31 March 2024 31,660
Net book value
At 31 March 2024 33,740
At 31 March 2023 46,820

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 April 2023 316,689
Additions 30,944
Disposals (1,425 )
At 31 March 2024 346,208
Depreciation
At 1 April 2023 215,954
Charge for year 58,015
Eliminated on disposal (119 )
At 31 March 2024 273,850
Net book value
At 31 March 2024 72,358
At 31 March 2023 100,735

6. Fixed asset investments
Own
shares
£   
Cost
At 1 April 2023
and 31 March 2024 957,765
Net book value
At 31 March 2024 957,765
At 31 March 2023 957,765

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 121,287 198,892
Other debtors 60,282 41,773
181,569 240,665

HSM ADVISORY LTD (REGISTERED NUMBER: 03955298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 53,802 17,292
Taxation and social security 114,189 143,036
Other creditors 188,730 564,284
356,721 724,612

9. Employee benefit trust shares

The £957,765 shown in investments is the company's contribution to an Employee Benefit Trust (EBT). There is £Nil deferred consideration at the end of the period (2023: £150,000) as this was settled during the year in planned instalments.

No options had been granted at the balance sheet date. When they are, the cost of this plan will be expensed to the profit and loss account on a straight line basis over the vesting period of the shares. The charge this year was £Nil.