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Company Registration No. 09565046 (England and Wales)
HSSMI Foundation Unaudited accounts for the year ended 31 December 2024
HSSMI Foundation Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
HSSMI Foundation Company Information for the year ended 31 December 2024
Directors
D Anderson AJ Best A Bindel BC Graves MH Everitt D Wells RJ Allison
Company Number
09565046 (England and Wales)
Registered Office
THE BAGEL FACTORY, UNIT A-C 52-54 WHITE POST LANE LONDON E9 5EN UNITED KINGDOM
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HSSMI Foundation Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investments
5
92,636 
105,001 
Current assets
Debtors
6
51,562 
216,472 
Cash at bank and in hand
261,433 
137,723 
312,995 
354,195 
Creditors: amounts falling due within one year
7
(1,484)
(1,101)
Net current assets
311,511 
353,094 
Total assets less current liabilities
404,147 
458,095 
Creditors: amounts falling due after more than one year
8
- 
(104,404)
Net assets
404,147 
353,691 
Reserves
9
Profit and loss account
404,147 
353,691 
Members' funds
404,147 
353,691 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by
D Anderson Director Company Registration No. 09565046
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HSSMI Foundation Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
HSSMI Foundation is a private company, limited by guarantee, registered in England and Wales, registration number 09565046. The registered office is THE BAGEL FACTORY, UNIT A-C, 52-54 WHITE POST LANE, LONDON, E9 5EN, 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.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases. 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 surplus or deficit.
Land & buildings
10 years straight line
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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HSSMI Foundation Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
11,744 
312,500 
79,582 
403,826 
At 31 December 2024
11,744 
312,500 
79,582 
403,826 
Depreciation
At 1 January 2024
11,744 
312,500 
79,582 
403,826 
At 31 December 2024
11,744 
312,500 
79,582 
403,826 
Net book value
At 31 December 2024
- 
- 
- 
- 
5
Investments
Other investments 
£ 
Valuation at 1 January 2024
105,001 
Fair value adjustments
(12,365)
Valuation at 31 December 2024
92,636 
Investments in unquoted equity instruments, including special share rights, are initially recognised at fair value, which is normally the transaction price, including directly attributable transaction costs. Where fair value can be measured reliably, such investments are subsequently measured at fair value at each reporting date, with changes in fair value recognised in profit or loss for the period. Where fair value cannot be measured reliably without undue cost or effort, the investment is carried at cost less any accumulated impairment losses. An impairment loss is recognised when there is objective evidence that the investment’s recoverable amount is lower than its carrying amount. Dividends and other distributions receivable from such investments are recognised in profit or loss when the right to receive payment is established. On 30 November 2021, as part of the consideration for the sale of the trade and assets of HSSMI Trading Limited, the company received a ‘golden share’ in New Co Consulting Limited. This share gives the company the right to participate in the future profits of New Co Consulting Limited. The investment has been recognised at its fair value of £105,000 at the date of acquisition and is classified as a non-current asset. The fixed asset investments comprised the company's shareholding in New Co Consulting Limited (Reg. Number: 13585848)
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,708 
159,559 
Accrued income and prepayments
12,489 
50,841 
Other debtors
12,365 
- 
51,562 
210,400 
Amounts falling due after more than one year
Other debtors
- 
6,072 
- 6 -
HSSMI Foundation Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
230 
- 
Trade creditors
1,254 
1,101 
1,484 
1,101 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Accruals
- 
104,404 
9
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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