1 April 2024 false Taxfiler 2024.6 true 11246897 business:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11246897 2024-03-31 11246897 2024-04-01 2025-03-31 11246897 business:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 11246897 business:FilletedAccounts 2024-04-01 2025-03-31 11246897 2025-03-31 11246897 business:Director1 2024-04-01 2025-03-31 11246897 business:RegisteredOffice 2024-04-01 2025-03-31 11246897 2024-03-31 11246897 core:WithinOneYear 2025-03-31 11246897 core:WithinOneYear 2024-03-31 11246897 core:AfterOneYear 2025-03-31 11246897 core:AfterOneYear 2024-03-31 11246897 core:ShareCapital core:PreviouslyStatedAmount 2025-03-31 11246897 core:ShareCapital core:PreviouslyStatedAmount 2024-03-31 11246897 core:SharePremium core:PreviouslyStatedAmount 2025-03-31 11246897 core:SharePremium core:PreviouslyStatedAmount 2024-03-31 11246897 core:CapitalContributionReserve core:PreviouslyStatedAmount 2025-03-31 11246897 core:CapitalContributionReserve core:PreviouslyStatedAmount 2024-03-31 11246897 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2025-03-31 11246897 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-03-31 11246897 core:PreviouslyStatedAmount 2025-03-31 11246897 core:PreviouslyStatedAmount 2024-03-31 11246897 business:SmallEntities 2024-04-01 2025-03-31 11246897 countries:EnglandWales 2024-04-01 2025-03-31 11246897 core:ComputerEquipment 2024-04-01 2025-03-31 11246897 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 11246897 core:IntangibleAssetsOtherThanGoodwill 2025-03-31 11246897 core:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 11246897 core:ComputerEquipment 2024-03-31 11246897 core:ComputerEquipment 2025-03-31 11246897 business:OrdinaryShareClass1 2024-04-01 2025-03-31 11246897 business:OrdinaryShareClass1 2023-04-01 2024-03-31 11246897 1 2024-04-01 2025-03-31 11246897 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11246897 (England and Wales)
Hyper AR Ltd Unaudited accounts for the year ended 31 March 2025
Hyper AR Ltd Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
Hyper AR Ltd Company Information for the year ended 31 March 2025
Director
Andrew James Hart
Company Number
11246897 (England and Wales)
Registered Office
3rd Floor 86-90 Paul Street London EC2A 4NE United Kingdom
Accountants
Barnes & Scott 86-90 Paul Street London EC2A 4NE
- 3 -
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Hyper AR Ltd for the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hyper AR Ltd for the year ended 31 March 2025 as set out on pages 5 - 9 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of Hyper AR Ltd, as a body, in accordance with the terms of our engagement letter dated 22 July 2024. Our work has been undertaken solely to prepare for your approval the accounts of Hyper AR Ltd and state those matters that we have agreed to state to the Board of Directors of Hyper AR Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hyper AR Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Hyper AR Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hyper AR Ltd. You consider that Hyper AR Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Hyper AR Ltd. 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 accounts.
Barnes & Scott Chartered Accountants 86-90 Paul Street London EC2A 4NE 23 October 2025
- 4 -
Hyper AR Ltd Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
3,815
4,768
Tangible assets
5
23,388
31,556
27,203
36,324
Current assets
Debtors
6
97,265
341,609
Cash at bank and in hand
254,029
1,073,301
351,294
1,414,910
Creditors: amounts falling due within one year
7
(10,266)
(51,671)
Net current assets
341,028
1,363,239
Total assets less current liabilities
368,231
1,399,563
Creditors: amounts falling due after more than one year
8
-
(1,057,351)
Net assets
368,231
342,212
Capital and reserves
Called up share capital
9
202
183
Share premium
4,256,352
3,197,387
Capital contribution reserve
125,118
200,137
Profit and loss account
(4,013,441)
(3,055,495)
Shareholders' funds
368,231
342,212
For the year ending 31 March 2025 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 23 October 2025 and were signed on its behalf by
Andrew James Hart Director Company Registration No. 11246897
- 5 -
Hyper AR Ltd Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Hyper AR Ltd is a private company, limited by shares, registered in England and Wales, registration number 11246897. The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE, 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.
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 rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment
20% Straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation over a useful life of 10 years.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Going concern
The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and anticipated cash flows, availability of financing facilities and mitigating actions that can be taken during the period.
Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.
- 6 -
Hyper AR Ltd Notes to the Accounts for the year ended 31 March 2025
Staff Share Option Scheme
The company has a share option scheme in place. The scheme consists of an EMI approved option scheme for those who are eligible, and an 'unapproved' scheme for others. The options are settled by equity upon exercise. At the period end there were 192,489 unapproved share options in issue, which had vested in full. There were no EMI options in issue. The Company has entered a credit of £75,019 through the profit and loss account, being the estimated fair value reduction in share options during the period (£69,403) plus a further reduction in relation to prior periods reported (£5,616). The number and weighted average exercise prices for the options are as follows: (i) outstanding at the beginning of the period - 581,422 share options at £0.004529 exercise price each; (ii) granted during the period - 30,000 options at ££0.000010 each; (iii) forfeited during the period - 93,104 shares at £0.000383 exercise price each; (iv) exercised during the period - 325,829 shares at £0.005019 exercise price each; (v) expired during the period - Nil; (vi) outstanding at the end of the period - 192,489 share options at £0.005 exercise price each; and (vii) exercisable at the end of the period - 192,489 hare options at £0.005 exercise price each. Prior Period Restatements The balance of share options outstanding at the start of the period has been restated from 690,443 to 581,422, a reduction of 109,021. This relates to grants (82,500) and forfeits (191,521) which were omitted from the prior period calculations.
4
Intangible fixed assets
Other
£
Cost
At 1 April 2024
9,535
At 31 March 2025
9,535
Amortisation
At 1 April 2024
4,767
Charge for the year
953
At 31 March 2025
5,720
Net book value
At 31 March 2025
3,815
At 31 March 2024
4,768
- 7 -
Hyper AR Ltd Notes to the Accounts for the year ended 31 March 2025
5
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 April 2024
48,359
Additions
1,925
Disposals
(833)
At 31 March 2025
49,451
Depreciation
At 1 April 2024
16,803
Charge for the year
9,483
On disposals
(223)
At 31 March 2025
26,063
Net book value
At 31 March 2025
23,388
At 31 March 2024
31,556
6
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
16,272
16,561
Trade debtors
21,883
-
Accrued income and prepayments
2,702
2,284
Other debtors
56,408
322,764
97,265
341,609
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
482
6,480
Taxes and social security
-
999
Other creditors
1,139
2,881
Accruals
8,645
41,311
10,266
51,671
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
-
1,057,351
- 8 -
Hyper AR Ltd Notes to the Accounts for the year ended 31 March 2025
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
20,185,048 Ordinary shares of £0.00001 each
201.85
182.65
Shares issued during the period:
1,919,825 Ordinary shares of £0.00001 each
19.19
10
Post balance sheet events
In June 2025 the company granted EMI share options, all of which have a vesting start date prior to 31 March 2025. Of these options, at 31 March 2025, 79,200 would have vested with a fair value of £33,264.
11
Average number of employees
During the year the average number of employees was 10 (2024: 16).
- 9 -