Hydra Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12959360 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 19 OCTOBER 2020 TO 31 OCTOBER 2021

FOR

HYDRA DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J W Pearson

D A J Acland

REGISTERED OFFICE:

Studio 2

Third Floor

22 - 27 The Oval

London

E2 9DT

REGISTERED NUMBER:

12959360 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

58,477

CURRENT ASSETS

Cash at bank

48,801

CREDITORS

Amounts falling due within one year

5

28,078

NET CURRENT ASSETS

20,723

TOTAL ASSETS LESS CURRENT LIABILITIES

79,200

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

79,198

SHAREHOLDERS' FUNDS

79,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2022 and were signed on its behalf by:

S J W Pearson - Director

D A J Acland - Director

1.	STATUTORY INFORMATION

Hydra Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

Additions

71,492

1,712

73,204

At 31 October 2021

71,492

1,712

73,204

DEPRECIATION

Charge for period

14,299

428

14,727

At 31 October 2021

14,299

428

14,727

NET BOOK VALUE

At 31 October 2021

57,193

1,284

58,477

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Hire purchase contracts

14,998

Trade creditors

57

Tax

2,449

VAT

2,036

Directors' current accounts

7,288

Accrued expenses

1,250

28,078

6.	SECURED DEBTS

The following secured debts are included within creditors:

£

Hire purchase contracts

14,998

The hire purchase contracts are secured against the assets to which they relate.