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Company No: 04290404 (England and Wales)

HOFFMAN INSTITUTE UK LIMITED

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

HOFFMAN INSTITUTE UK LIMITED

Annual Report and Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

HOFFMAN INSTITUTE UK LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
HOFFMAN INSTITUTE UK LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
Directors Miss S M S Gordon
Mr T J Laurence
Registered office Quay House
River Road
Arundel
England
BN18 9DF
United Kingdom
Company number 04290404 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
HOFFMAN INSTITUTE UK LIMITED

DIRECTORS' REPORT

For the financial year ended 31 December 2024
HOFFMAN INSTITUTE UK LIMITED

DIRECTORS' REPORT (continued)

For the financial year ended 31 December 2024

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 31 December 2024.

Directors

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

Miss S M S Gordon
Mr T J Laurence

Small companies exemption

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.



Approved by the Board of Directors and signed on its behalf by:

Miss S M S Gordon
Director

15 May 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOFFMAN INSTITUTE UK LIMITED

For the financial year ended 31 December 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOFFMAN INSTITUTE UK LIMITED (continued)

For the financial year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hoffman Institute UK Limited for the financial year ended 31 December 2024 which comprise the Balance Sheet and the related notes 1 to 7 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Hoffman Institute UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hoffman Institute UK Limited. You consider that Hoffman Institute UK Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Hoffman Institute UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Hoffman Institute UK Limited, as a body, in accordance with the terms of our engagement letter dated 29 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Hoffman Institute UK Limited and state those matters that we have agreed to state to the Board of Directors of Hoffman Institute UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hoffman Institute UK Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

19 May 2025

HOFFMAN INSTITUTE UK LIMITED

BALANCE SHEET

As at 31 December 2024
HOFFMAN INSTITUTE UK LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,322 1,868
1,322 1,868
Current assets
Stocks 7,425 3,665
Debtors 5 32,226 123,959
Cash at bank and in hand 379,049 271,277
418,700 398,901
Creditors: amounts falling due within one year 6 ( 258,905) ( 225,161)
Net current assets 159,795 173,740
Total assets less current liabilities 161,117 175,608
Net assets 161,117 175,608
Capital and reserves
Called-up share capital 100 100
Profit and loss account 161,017 175,508
Total shareholders' funds 161,117 175,608

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.

Directors' responsibilities:

The financial statements of Hoffman Institute UK Limited (registered number: 04290404) were approved and authorised for issue by the Board of Directors on 15 May 2025. They were signed on its behalf by:

Miss S M S Gordon
Director
HOFFMAN INSTITUTE UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
HOFFMAN INSTITUTE UK LIMITED

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

Hoffman Institute UK 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 Quay House, River Road, Arundel, England, BN18 9DF, 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.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probably that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
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:

Fixtures and fittings 25 % reducing balance
Office equipment 33 % reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

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.

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 17 15

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2024 13,503 13,503
At 31 December 2024 13,503 13,503
Accumulated amortisation
At 01 January 2024 13,503 13,503
At 31 December 2024 13,503 13,503
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2024 11,361 24,364 35,725
At 31 December 2024 11,361 24,364 35,725
Accumulated depreciation
At 01 January 2024 10,486 23,371 33,857
Charge for the financial year 218 328 546
At 31 December 2024 10,704 23,699 34,403
Net book value
At 31 December 2024 657 665 1,322
At 31 December 2023 875 993 1,868

5. Debtors

2024 2023
£ £
Prepayments 30,382 123,959
Other debtors 1,844 0
32,226 123,959

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 33,576 12,940
Taxation and social security 107,701 74,498
Other creditors 117,628 137,723
258,905 225,161

7. Financial commitments

Other financial commitments

As at 31 December 2024 the Company had an operating lease commitment totalling £14,445 (2023 - £26,000)