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REGISTERED NUMBER: 07217086 (England and Wales)















Hpi Verification Services Ltd

Unaudited Financial Statements for the Year Ended 30 September 2024






Hpi Verification Services Ltd (Registered number: 07217086)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hpi Verification Services Ltd

Company Information
for the Year Ended 30 September 2024







Director: A L Reay





Registered office: Wisteria Suite
The Manor House
Howbery Park
Wallingford
Oxfordshire
OX10 8BA





Registered number: 07217086 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Hpi Verification Services Ltd (Registered number: 07217086)

Statement of Financial Position
30 September 2024

30/9/24 30/9/23
Notes £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 106,169 150,815
Investments 6 2 2
106,171 150,817

Current assets
Debtors 7 265,410 298,906
Cash at bank and in hand 130,053 195,087
395,463 493,993
Creditors
Amounts falling due within one year 8 136,120 167,733
Net current assets 259,343 326,260
Total assets less current liabilities 365,514 477,077

Creditors
Amounts falling due after more than one
year

9

(8,485

)

(21,212

)

Provisions for liabilities - (138 )
Net assets 357,029 455,727

Capital and reserves
Called up share capital 2 2
Revaluation reserve 10 63,715 95,572
Retained earnings 293,312 360,153
357,029 455,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hpi Verification Services Ltd (Registered number: 07217086)

Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 May 2025 and were signed by:





A L Reay - Director


Hpi Verification Services Ltd (Registered number: 07217086)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. Statutory information

Hpi Verification Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website & Domains are being amortised evenly over their estimated useful life of two years.

Rulefinder Brand are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Software - 20% on cost
Office equipment - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Hpi Verification Services Ltd (Registered number: 07217086)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 18 (2023 - 18 ) .

4. Intangible fixed assets
Website & Rulefinder
Goodwill Domains Brand Totals
£    £    £    £   
Cost
At 1 October 2023
and 30 September 2024 206,130 4,039 30,653 240,822
Amortisation
At 1 October 2023
and 30 September 2024 206,130 4,039 30,653 240,822
Net book value
At 30 September 2024 - - - -
At 30 September 2023 - - - -

Hpi Verification Services Ltd (Registered number: 07217086)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. Tangible fixed assets
Office Motor Computer
Software equipment vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 October 2023 223,000 48,138 57,238 58,824 387,200
Additions - 1,797 - 4,410 6,207
At 30 September 2024 223,000 49,935 57,238 63,234 393,407
Depreciation
At 1 October 2023 127,428 42,980 11,448 54,529 236,385
Charge for year 31,857 3,035 11,448 4,513 50,853
At 30 September 2024 159,285 46,015 22,896 59,042 287,238
Net book value
At 30 September 2024 63,715 3,920 34,342 4,192 106,169
At 30 September 2023 95,572 5,158 45,790 4,295 150,815

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 October 2023
and 30 September 2024 2
Net book value
At 30 September 2024 2
At 30 September 2023 2

7. Debtors: amounts falling due within one year
30/9/24 30/9/23
£    £   
Trade debtors 181,465 205,221
Other debtors 83,945 93,685
265,410 298,906

8. Creditors: amounts falling due within one year
30/9/24 30/9/23
£    £   
Bank loans and overdrafts 12,727 12,727
Trade creditors 47,573 49,852
Taxation and social security 60,664 93,877
Other creditors 15,156 11,277
136,120 167,733

Hpi Verification Services Ltd (Registered number: 07217086)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. Creditors: amounts falling due after more than one year
30/9/24 30/9/23
£    £   
Bank loans 8,485 21,212

10. Reserves
Revaluation
reserve
£   
At 1 October 2023 95,572
Transfers between funds (31,857 )

At 30 September 2024 63,715

11. Related party disclosures

Professional fees and other costs have been paid on behalf of associated companies in previous periods. Clearwater Rating Ltd, £19,419.66 has been written off in the year as a bad debt. Rulefinder.Net Ltd, repayments less further costs in the year £740, balance outstanding £160. These fees are included in debtors as tempory loans until such time as repayment has been made.

12. Ultimate controlling party

The controlling party is A L Reay & C D Morris.