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Company Registration No. 10859016 (England and Wales)
The Hidgate Ltd Unaudited accounts for the year ended 31 July 2024
The Hidgate Ltd Unaudited accounts Contents
Page
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The Hidgate Ltd Company Information for the year ended 31 July 2024
Director
Andrey Kugaevskikh
Company Number
10859016 (England and Wales)
Registered Office
Unit 302, Canalot Studios 222 Kensal Road London W10 5BN UNITED KINGDOM
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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The Hidgate Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,679 
- 
Tangible assets
- 
479 
2,679 
479 
Current assets
Inventories
34,855 
104,880 
Debtors
12,246 
26,070 
Cash at bank and in hand
1,478 
44,278 
48,579 
175,228 
Creditors: amounts falling due within one year
(40,906)
(12,556)
Net current assets
7,673 
162,672 
Total assets less current liabilities
10,352 
163,151 
Creditors: amounts falling due after more than one year
(1,000,990)
(866,805)
Net liabilities
(990,638)
(703,654)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(990,738)
(703,754)
Shareholders' funds
(990,638)
(703,654)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2024 and were signed on its behalf by
Andrey Kugaevskikh Director Company Registration No. 10859016
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The Hidgate Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
The Hidgate Ltd is a private company, limited by shares, registered in England and Wales, registration number 10859016. The registered office is Unit 302, Canalot Studios, 222 Kensal Road, London, W10 5BN, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis on the grounds that the Director has confirmed he will continue to support the company and that the loan at a 0% interest rate will not be called in within the next 12 month period.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
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 balance sheet date.
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The Hidgate Ltd Notes to the Accounts for the year ended 31 July 2024
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2023
- 
Additions
2,977 
At 31 July 2024
2,977 
Amortisation
At 1 August 2023
- 
Charge for the year
298 
At 31 July 2024
298 
Net book value
At 31 July 2024
2,679 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2023
3,659 
4,414 
8,073 
At 31 July 2024
3,659 
4,414 
8,073 
Depreciation
At 1 August 2023
3,659 
3,935 
7,594 
Charge for the year
- 
479 
479 
At 31 July 2024
3,659 
4,414 
8,073 
Net book value
At 31 July 2024
- 
- 
- 
At 31 July 2023
- 
479 
479 
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The Hidgate Ltd Notes to the Accounts for the year ended 31 July 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,535 
Trade debtors
7,992 
20,325 
Accrued income and prepayments
1,135 
1,091 
Other debtors
3,119 
3,119 
12,246 
26,070 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
392 
- 
Trade creditors
18,226 
9,708 
Taxes and social security
10,955 
2,848 
Other creditors
11,333 
- 
40,906 
12,556 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
1,000,990 
866,805 
9
Average number of employees
During the year the average number of employees was 2 (2023: 3).
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