HiperLAN Limited

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

1	General information

HiperLAN Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

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.

Going concern

The accounts have been prepared under the going concern concept on the basis that the director has agreed to continue to provide adequate funds to enable the company to meet its liabilities as they fall due.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006

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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a small entity (for the purposes of FRS 102) and in consequence has taken advantage of the exemption from the requirement to present a statement of cash flows and related notes..

Judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

HiperLAN Limited

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

2	Accounting policies (continued)

Taxation

The tax expense for the period comprises current tax. Tax is recognised in comprehensive income, 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 corporation 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Receivables

Receivables 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 receivables 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.

Payables

Payables 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.

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

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.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

HiperLAN Limited

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

4	Receivables

	2024 £	2023 £
Prepayments	175	150
	175	150

5	Cash and cash equivalents

	2024 £	2023 £
Cash at bank	5,867	5,867

6

Payables

	2024 £	2023 £
Due within one year
Director current account	13,262	13,262
Other payables	30,294	28,330
Accruals	1,050	1,050
	44,606	42,642

7	Share capital and reserves

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

HiperLAN Limited

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

8	Related party transactions

At 30 September 2024, the company owed U A Wiberg £13,262 (2023: £13,262). The loan is unsecured, interest free and has no fixed repayment schedule or repayment date.

At 30 September 2024, the company owed TelData HiperLAN Teknik AB, an undertaking under common control, the sum of £3,730 (2023: £3,730). The loan is unsecured, interest free and has no fixed repayment schedule or repayment date.

During the year Wasa Teknik AB, an undertaking under common control, paid expenses on behalf of the company totalling £1,964 (2023: £2,304). At 30 September 2024 the company owed Wasa Teknik AB £26,563 (2023: £24,599). The loan is unsecured, interest free and has no fixed repayment schedule or repayment date.
 

9

Control

The company is controlled by the director who owns 100% of the called up share capital.

10	Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.