Hyperion Tiles Ltd
Registered number: 07722634
Statement of Financial Position
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 18,182 20,664
Tangible assets 4 34,657 15,713
52,839 36,377
Current assets
Stocks 5,500 5,500
Debtors 5 112,373 38,632
Cash at bank and in hand 35,619 60,659
153,492 104,791
Creditors: amounts falling due within one year 6 (232,811) (120,561)
Net current liabilities (79,319) (15,770)
Total assets less current liabilities (26,480) 20,607
Creditors: amounts falling due after more than one year 7 (9,555) (19,782)
Provisions for liabilities (4,589) (657)
Net (liabilities)/assets (40,624) 168
Capital and reserves
Called up share capital 100 100
Profit and loss account (40,724) 68
Shareholder's funds (40,624) 168
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Skeoch
Director
Approved by the board on 23 April 2025
Hyperion Tiles Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The director considers the company to be a going concern, notwithstanding that there are losses of £40,724. They have reviewed the potential future of the company and consider that it will continue to trade profitably for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over 10 years straight line
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 5 4
3 Intangible fixed assets £
Website:
Cost
At 1 August 2023 24,824
At 31 July 2024 24,824
Amortisation
At 1 August 2023 4,160
Provided during the year 2,482
At 31 July 2024 6,642
Net book value
At 31 July 2024 18,182
At 31 July 2023 20,664
Website is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 17,503 8,938 26,441
Additions - 28,884 28,884
Disposals - (4,407) (4,407)
At 31 July 2024 17,503 33,415 50,918
Depreciation
At 1 August 2023 5,250 5,478 10,728
Charge for the year 1,750 8,051 9,801
On disposals - (4,268) (4,268)
At 31 July 2024 7,000 9,261 16,261
Net book value
At 31 July 2024 10,503 24,154 34,657
At 31 July 2023 12,253 3,460 15,713
5 Debtors 2024 2023
£ £
Trade debtors 2,071 -
Other debtors 110,302 38,632
112,373 38,632
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 110,507 10,014
Trade creditors 97,884 80,813
Accruals 2,533 2,385
Corporation tax - 9,943
Other taxes and social security costs 3,346 504
Other creditors 18,541 16,902
232,811 120,561
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,555 19,782
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R Skeoch
Repayable on demand 18,882 62,448 - 81,330
18,882 62,448 - 81,330
9 Other information
Hyperion Tiles Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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