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COMPANY REGISTRATION NUMBER: 05608909
Hyder Holdings Limited
Filleted Unaudited Financial Statements
31 March 2024
Hyder Holdings Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
5
100
100
Current assets
Debtors
6
1,228,600
1,128,458
Cash at bank and in hand
292,179
------------
------------
1,228,600
1,420,637
Creditors: amounts falling due within one year
7
( 23,703)
( 245,639)
------------
------------
Net current assets
1,204,897
1,174,998
------------
------------
Total assets less current liabilities
1,204,997
1,175,098
------------
------------
Net assets
1,204,997
1,175,098
------------
------------
Capital and reserves
Called up share capital
115,000
115,000
Profit and loss account
1,089,997
1,060,098
------------
------------
Shareholders funds
1,204,997
1,175,098
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hyder Holdings Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 4 March 2025 , and are signed on behalf of the board by:
Mr Z Hyder
Mr R Hyder
Director
Director
Company registration number: 05608909
Hyder Holdings Limited
Notes to the Financial Statements
Year ended 31st March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Bruce Grove, London, N17 6RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The company exercises judgement to determine the recoverability of loans to connected companies. No provision has been made for impairment as the management believes the loans are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments in subsidiaries
Investments in subsidiaries are accounted for in accordance with the cost model and are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment
4. Employee numbers
The average number of employees during the year was Nil.
5. Investments
Shares in group undertakings
£
Cost
At 1st April 2023 and 31st March 2024
100
----
Impairment
At 1st April 2023 and 31st March 2024
----
Carrying amount
At 31st March 2024
100
----
At 31st March 2023
100
----
6. Debtors
2024
2023
£
£
Trade debtors
2,014
2,014
Amounts owed by group undertakings and undertakings in which the company has a participating interest
717,726
660,240
Other debtors
508,860
466,204
------------
------------
1,228,600
1,128,458
------------
------------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
508,860
465,844
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31
Trade creditors
834
Accruals and deferred income
3,033
4,733
Director loan accounts
13,165
119,365
Other creditors
6,640
121,541
--------
---------
23,703
245,639
--------
---------
8. Related party transactions
The following related party transactions took place during the year: 1) Included in other creditors due within one year is an amount of £Nil (2023: £121,541) owed to the ex-director's estate. 2) Included in creditors due within one year is a loan of £13,165 (2023: £119,365) from the directors. This loan is interest-free and has no fixed repayment term. 3) Included in the debtors is an amount due after more than one year of £508,860 (2023: £465,844) to a company in which the directors have an interest. The loan is secured and interest is receivable at 4% above the Bank of England base rate. The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.