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Company No: 15509530 (England and Wales)

HG IFA LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

HG IFA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025

Contents

HG IFA LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025
HG IFA LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025
DIRECTOR A C P Evans (Appointed 21 February 2024)
REGISTERED OFFICE Wey Court West
Union Road
Farnham
GU9 7PT
United Kingdom
COMPANY NUMBER 15509530 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
HG IFA LIMITED

BALANCE SHEET

AS AT 28 FEBRUARY 2025
HG IFA LIMITED

BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2025
Note 28.02.2025
£
Fixed assets
Tangible assets 3 4,266
4,266
Current assets
Debtors 4 2,413
Cash at bank and in hand 5 34,635
37,048
Creditors: amounts falling due within one year 6 ( 42,909)
Net current liabilities (5,861)
Total assets less current liabilities (1,595)
Net liabilities ( 1,595)
Capital and reserves
Called-up share capital 7 100
Profit and loss account ( 1,695 )
Total shareholder's deficit ( 1,595)

For the financial period ending 28 February 2025 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 HG IFA Limited (registered number: 15509530) were approved and authorised for issue by the Director on 08 April 2025. They were signed on its behalf by:

A C P Evans
Director
HG IFA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025
HG IFA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 21 FEBRUARY 2024 TO 28 FEBRUARY 2025
1. Accounting policies

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

General information and basis of accounting

HG IFA Limited (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 Wey Court West, Union Road, Farnham, GU9 7PT, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
21.02.2024 to
28.02.2025
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 21 February 2024 0 0
Additions 4,482 4,482
At 28 February 2025 4,482 4,482
Accumulated depreciation
At 21 February 2024 0 0
Charge for the financial period 216 216
At 28 February 2025 216 216
Net book value
At 28 February 2025 4,266 4,266

4. Debtors

28.02.2025
£
Prepayments 2,313
Other debtors 100
2,413

5. Cash and cash equivalents

28.02.2025
£
Cash at bank and in hand 34,635

6. Creditors: amounts falling due within one year

28.02.2025
£
Amounts owed to director 39,183
Accruals 2,100
Other creditors 1,626
42,909

7. Called-up share capital

28.02.2025
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100