1 January 2024 false No description of principal activity Taxfiler 2024.6 true 12343069business:PrivateLimitedCompanyLtd2024-01-012024-12-31 123430692023-12-31 123430692024-01-012024-12-31 12343069business:AuditExempt-NoAccountantsReport2024-01-012024-12-31 12343069business:FilletedAccounts2024-01-012024-12-31 123430692024-12-31 12343069business:Director12024-01-012024-12-31 12343069business:Director22024-01-012024-12-31 12343069business:RegisteredOffice2024-01-012024-12-31 123430692023-12-31 12343069core:WithinOneYear2024-12-31 12343069core:WithinOneYear2023-12-31 12343069core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 12343069core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 12343069core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 12343069core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 12343069core:PreviouslyStatedAmount2024-12-31 12343069core:PreviouslyStatedAmount2023-12-31 12343069business:SmallEntities2024-01-012024-12-31 12343069countries:EnglandWales2024-01-012024-12-31 12343069core:FurnitureFittings2023-12-31 12343069core:ComputerEquipment2023-12-31 12343069core:FurnitureFittings2024-01-012024-12-31 12343069core:ComputerEquipment2024-01-012024-12-31 12343069core:FurnitureFittings2024-12-31 12343069core:ComputerEquipment2024-12-31 123430692023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. 12343069 (England and Wales)
Hypemasters UK Ltd Unaudited accounts for the year ended 31 December 2024
Hypemasters UK Ltd Unaudited accounts Contents
Page
- 2 -
Hypemasters UK Ltd Company Information for the year ended 31 December 2024
Directors
Ekaterina Bazhanova Boris Kalmykov
Company Number
12343069 (England and Wales)
Registered Office
131 Finsbury Pavement London England EC2A 1NT
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
- 3 -
Hypemasters UK Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,179 
5,347 
Current assets
Debtors
8,869 
1,812 
Cash at bank and in hand
10,519 
15,877 
19,388 
17,689 
Creditors: amounts falling due within one year
(65,876)
(68,391)
Net current liabilities
(46,488)
(50,702)
Net liabilities
(44,309)
(45,355)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(44,310)
(45,356)
Shareholders' funds
(44,309)
(45,355)
For the year ending 31 December 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by
Boris Kalmykov Director Company Registration No. 12343069
- 4 -
Hypemasters UK Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Hypemasters UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 12343069. The registered office is 131 Finsbury Pavement, London, England, EC2A 1NT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Office Equipment 33% Straight Line Computer Equipment 25% Straight Line
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit
During the financial year, Hypemasters UK Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
- 5 -
Hypemasters UK Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
2,166 
9,402 
11,568 
Additions
- 
1,555 
1,555 
Disposals
(646)
(5,342)
(5,988)
At 31 December 2024
1,520 
5,615 
7,135 
Depreciation
At 1 January 2024
1,373 
4,848 
6,221 
Charge for the year
569 
3,524 
4,093 
On disposals
(575)
(4,783)
(5,358)
At 31 December 2024
1,367 
3,589 
4,956 
Net book value
At 31 December 2024
153 
2,026 
2,179 
At 31 December 2023
793 
4,554 
5,347 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,248 
1,812 
Accrued income and prepayments
6,621 
- 
8,869 
1,812 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
6,616 
681 
Amounts owed to group undertakings and other participating interests
59,260 
59,260 
Taxes and social security
- 
7,117 
Other creditors
- 
1,333 
65,876 
68,391 
7
Transactions with related parties
As at 31 December 2024, £59,260 (2023: £59,260) is due to Hypemasters Inc, its parent company. The loan is interest-free and repayable on demand.
8
Controlling party
Hypemasters UK Ltd is a wholly-owned subsidiary of Hypemasters Inc.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 6 -