1.
General Information
Hyground Consulting Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04641268
. The registered office is 9a Burroughs Gardens, London, United Kingdom, NW4 4AU.
The principal place of business is:
27 Decoy Avenue
Golders Green
London
NW11 0ES
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
2.2.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
Hyground Consulting Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
2.4.
Financial Instruments
Current asset investments are valued at fair value through profit and loss.
Investment income and realised and unrealised gains and losses arising on investments are recognised in profit or loss in the period in which they arise.
2.5.
Foreign Currencies
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
2.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7.
2.7. - continued
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
...CONTINUED
Hyground Consulting Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2025: 5)
Hyground Consulting Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
4.
Tangible Assets
| Plant & Machinery etc. | |
|---|---|
| £ | |
| Cost | |
| As at 1 February 2025 |
|
| Additions |
|
| Disposals |
( |
| As at 31 January 2026 |
|
| Depreciation | |
| As at 1 February 2025 |
|
| Provided during the period |
|
| Disposals |
( |
| As at 31 January 2026 |
|
| Net Book Value | |
| As at 31 January 2026 |
|
| As at 1 February 2025 |
|
5.
Debtors
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by participating interests | 36,020 | 368,500 | |
| Other debtors | 1,116 | 1,067 | |
|
|
|
||
6.
Current Asset Investments
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Listed investments | 524,311 | - | |
Valuation
Hyground Consulting Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
|
2026
|
|||
|
£
|
|||
|
At 1 February 2025
Additions
|
0
542,604
|
||
|
Disposals
Foreign exchange movement
Fair market value adjustment
Income account movement
Cash account movement
|
(96,028)
125
74,311
1,679
1,621
|
|
|
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|
|||
|
Closing balance of investment
|
524,311
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
7.
Creditors: Amounts Falling Due Within One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts | - |
|
|
| Other creditors | 205,539 | 133,900 | |
| Taxation and social security |
|
|
|
|
|
|
||
9.
Dividends
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
Hyground Consulting Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2026
10.
Related Party Transactions
At the balance sheet date, the company owed £153,983 (2025 : £56,545) to the directos.
Meadow (Leasing) Properties Limited
(Under common control)
At the balance sheet date, Meadow (Leasing) Properties Limited owed £36,020 (2025 : £368,500) to the company.