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Company No: 11021779 (England and Wales)

HITGROUP INCORPORATED LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

HITGROUP INCORPORATED LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

HITGROUP INCORPORATED LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
HITGROUP INCORPORATED LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 111 111
111 111
Current assets
Debtors 10,178 11,079
Cash at bank and in hand 193,813 140,027
203,991 151,106
Creditors: amounts falling due within one year 4 ( 373) ( 1,977)
Net current assets 203,618 149,129
Total assets less current liabilities 203,729 149,240
Net assets 203,729 149,240
Capital and reserves
Called-up share capital 5 111 111
Profit and loss account 203,618 149,129
Total shareholders' funds 203,729 149,240

For the financial 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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hitgroup Incorporated Ltd (registered number: 11021779) were approved and authorised for issue by the Director. They were signed on its behalf by:

C W Teale
Director

10 April 2025

HITGROUP INCORPORATED LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
HITGROUP INCORPORATED LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hitgroup Incorporated Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 111 111
At 31 December 2024 111 111
Carrying value at 31 December 2024 111 111
Carrying value at 31 December 2023 111 111

4. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 373 177
Other creditors 0 1,800
373 1,977

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.01 each 100 100
1,100 Ordinary A shares of £ 0.01 each 11 11
111 111

6. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed by group undertakings 1,753 977
Amounts owed by director 8,425 10,100