Company Registration No. 05043795 (England and Wales)
HEMISPHERE PROJECTS LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
HEMISPHERE PROJECTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HEMISPHERE PROJECTS LIMITED
Company Registration No. 05043795
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
868
1,687
Current assets
Debtors
4
49
598
Cash at bank and in hand
67,296
90,644
67,345
91,242
Creditors: amounts falling due within one year
5
(5,844)
(10,849)
Net current assets
61,501
80,393
Net assets
62,369
82,080
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
62,367
82,078
Total equity
62,369
82,080

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9 July 2026 and are signed on its behalf by:
N J O'Hagan
Director
HEMISPHERE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Hemisphere Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oak Grange Lodge, Oak Grange Road, Guilford, Surrey, United Kingdom, GU4 7UD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover compromises revenue recognised by the company in respect of freelance technical and production management design services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Tangible fixed assets

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:

Plant and machinery
Straight line over 4 years
Equipment
Straight line over 3 years

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 profit or loss.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HEMISPHERE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
2
2
HEMISPHERE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025 and 31 March 2026
11,773
Depreciation and impairment
At 1 April 2025
10,086
Depreciation charged in the year
819
At 31 March 2026
10,905
Carrying amount
At 31 March 2026
868
At 31 March 2025
1,687
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
38
598
Other debtors
11
-
0
49
598
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
2,464
184
Taxation and social security
1,149
8,434
Other creditors
2,231
2,231
5,844
10,849
HEMISPHERE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -
6
Called up share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
20
20
2
2
7
Related Party Transactions

At the balance sheet date the company owed the director £14 (2025 - £110). This loan is interest free and repayable on demand.

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