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Registration number: 04641268

Hyground Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Hyground Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Hyground Consulting Limited

Company Information

Directors

Mr S Ginsberg

Mr PH Mack

Company secretary

Ms GD Davis

Registered office

9A Burroughs Gardens
London
NW4 4AU

Accountants

Ripe LLP 9A Burroughs Gardens
London
NW4 4AU

 

Hyground Consulting Limited

(Registration number: 04641268)
Balance Sheet as at 31 January 2025

Note

2025
£

As restated
31 January
2024
£

Fixed assets

 

Tangible assets

5

95,274

116,409

Current assets

 

Debtors

6

570,308

227,327

Other financial assets

-

340,667

Cash at bank and in hand

 

265,443

284,882

 

835,751

852,876

Creditors: Amounts falling due within one year

7

(345,906)

(364,465)

Net current assets

 

489,845

488,411

Net assets

 

585,119

604,820

Capital and reserves

 

Called up share capital

8

178

178

Capital redemption reserve

177

177

Retained earnings

584,764

604,465

Shareholders' funds

 

585,119

604,820

 

Hyground Consulting Limited

(Registration number: 04641268)
Balance Sheet as at 31 January 2025

For the financial year ending 31 January 2025 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 May 2025 and signed on its behalf by:
 

.........................................
Mr S Ginsberg
Director

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

The principal place of business is:
27 Decoy Avenue
Golders Green
London
NW11 0ES

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture & Fittings

20% RBM

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

4

Taxation

Tax charged/(credited) in the profit and loss account

2025
£

2024
£

Current taxation

UK corporation tax

56,505

86,831

Deferred taxation

Arising from origination and reversal of timing differences

-

(29,098)

Tax expense in the income statement

56,505

57,733

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2024

360,984

360,984

At 31 January 2025

360,984

360,984

Depreciation

At 1 February 2024

242,428

242,428

Charge for the year

23,282

23,282

At 31 January 2025

265,710

265,710

Carrying amount

At 31 January 2025

95,274

95,274

At 31 January 2024

116,409

116,409

6

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

168,189

227,327

Amounts owed by related parties

11

368,500

-

Other debtors

 

33,619

-

   

570,308

227,327

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Loans and borrowings

9

2,592

-

Trade creditors

 

89,933

120,724

Taxation and social security

 

87,068

113,954

Accruals and deferred income

 

77,355

15,721

Other creditors

 

88,958

114,066

 

345,906

364,465

 

Hyground Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

179

179

179

179

       

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank overdrafts

2,592

-

10

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £1,498.00 (2024 - £Nil) per each Ordinary shares

133,330

-

 

 

11

Related party transactions

At the balance sheet date, the director Mr S Ginsberg owed £33,619 to the company which was repaid to the company on 3rd February 2025. In the previous year the company owed £45,293 to the director.

At the balance sheet date, the company owed £90,165 (2023 : £69,680) to the director Mr PH Mack.

Meadow (Leasing) Properties Limited
(Under common control)

At the balance sheet date, Meadow (Leasing) Properties Limited owed £368,500 (2024 : £-) to the company.