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REGISTERED NUMBER: 03458148 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

HSG Group Ltd

HSG Group Ltd (Registered number: 03458148)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HSG Group Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mr F M Nicol
Mrs L M Nicol
Mrs S A Carter





SECRETARY: Mrs S A Carter





REGISTERED OFFICE: 111 Cambridge Road
Waterbeach
Cambridge
Cambridgeshire
CB25 9NJ





BUSINESS ADDRESS: Chettisham Business Park
Lynn Road
Chettisham
Ely
Cambridgeshire
CB6 1RY





REGISTERED NUMBER: 03458148 (England and Wales)

HSG Group Ltd (Registered number: 03458148)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,975,724 2,115,507
Investments 6 61 61
1,975,785 2,115,568

CURRENT ASSETS
Stocks 4,310 -
Debtors 7 143,694 306,918
Cash at bank 545,398 298,547
693,402 605,465
CREDITORS
Amounts falling due within one year 8 356,773 313,727
NET CURRENT ASSETS 336,629 291,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,312,414

2,407,306

CREDITORS
Amounts falling due after more than one
year

9

-

(116,011

)

PROVISIONS FOR LIABILITIES (398,511 ) (449,889 )
NET ASSETS 1,913,903 1,841,406

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,863,903 1,791,406
SHAREHOLDERS' FUNDS 1,913,903 1,841,406

HSG Group Ltd (Registered number: 03458148)

Balance Sheet - continued
31 January 2024


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

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

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 10 October 2024 and were signed on its behalf by:





Mrs S A Carter - Director


HSG Group Ltd (Registered number: 03458148)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

HSG Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about HSG Group Ltd as an individual company and do not contain consolidated financial information as a parent in a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates, and assumptions that influence the values reported. These estimates and judgement are regularly reviewed and are based on the experience of the company's management as well as other factors, including the expectations of future events that are believed to be reasonable under the circumstances.

Significant judgements:
The directors have taken consideration of the requirements of the relevant financial reporting standards when preparing the financial statements, and concluded that there is not a reliable estimate of the fair value of the investments in subsidiary undertakings readily available to the company. The directors have subsequently recognised investments in subsidiaries at cost less impairment as disclosed within the accounting policies. The financial statements disclose supplementary information of the subsidiaries and their results in the accounting period in order to assist the end users of the financial statements.

There are no other judgements apart from those involving estimations that management has made in the process of applying the entities accounting polices and that have the most significant effect on the amounts recognised in the financial statements.

Turnover
Turnover represents the value, net of value added taxation and discounts, of management charges made to subsidiary companies.

Management charges are initially recognised when invoiced. Income is accrued and/or deferred within the financial statements in order to recognise income in line with the costs incurred relating to the management charges.

HSG Group Ltd (Registered number: 03458148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. ACCOUNTING POLICIES - continued

Depreciation
Depreciation is provided on all tangible fixed assets, other than freehold land, at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Computer equipment5%, 10% and 20% reducing balance
Plant and machinery5%, 10% and 20% reducing balance
Improvements to short leasehold land and buildings over the lease term

Depreciation is calculated on a monthly basis commencing in the month after addition.

Investments in subsidiaries
Unlisted fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses as there is no reliable fair value available.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.


HSG Group Ltd (Registered number: 03458148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 895,594 4,310,847 5,206,441
Additions 64,634 61,600 126,234
Disposals (12,434 ) (109,008 ) (121,442 )
At 31 January 2024 947,794 4,263,439 5,211,233
DEPRECIATION
At 1 February 2023 670,881 2,420,053 3,090,934
Charge for year 34,404 197,228 231,632
Eliminated on disposal (12,434 ) (74,623 ) (87,057 )
At 31 January 2024 692,851 2,542,658 3,235,509
NET BOOK VALUE
At 31 January 2024 254,943 1,720,781 1,975,724
At 31 January 2023 224,713 1,890,794 2,115,507

HSG Group Ltd (Registered number: 03458148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 369,260
DEPRECIATION
At 1 February 2023 147,351
Charge for year 26,854
At 31 January 2024 174,205
NET BOOK VALUE
At 31 January 2024 195,055
At 31 January 2023 221,909

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 61
NET BOOK VALUE
At 31 January 2024 61
At 31 January 2023 61

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,685 3,253
Amounts owed by group undertakings 12,104 174,795
Other debtors 128,905 128,870
143,694 306,918

Included within other debtors disclosed above is a balance of £20,905 (2023 - £20,870) in relation to prepaid expenses and a balance of £108,000 (2023 - £108,000) in relation to rent deposits.

HSG Group Ltd (Registered number: 03458148)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 31,327 72,004
Trade creditors 37,247 8,505
Amounts owed to group undertakings 187,374 190,125
Taxation and social security 91,830 18,362
Other creditors 8,995 24,731
356,773 313,727

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) - 31,327
Other creditors - 84,684
- 116,011

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 31,327 72,004
Between one and five years - 31,327
31,327 103,331

Non-cancellable operating leases
2024 2023
£    £   
Within one year 130,919 163,675
Between one and five years 850,000 980,919
980,919 1,144,594

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

At the balance sheet date, HSG Securities Ltd owns 100% of the issued share capital in the company and is therefore the ultimate controlling party.