Hylife Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10310518 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Hylife Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

F Cioccoloni

SECRETARY:

Regent Corporate Secretaries Ltd

REGISTERED OFFICE:

37-38 Long Acre

London

WC2E 9JT

REGISTERED NUMBER:

10310518 (England and Wales)

ACCOUNTANTS:

InMindful (UK) Ltd

37-38 Long Acre

London

WC2E 9JT

CURRENT ASSETS

Debtors

4

77,105

83,483

Cash at bank

249,867

136,579

326,972

220,062

CREDITORS

Amounts falling due within one year

5

43,041

14,201

NET CURRENT ASSETS

283,931

205,861

TOTAL ASSETS LESS CURRENT LIABILITIES

283,931

205,861

CREDITORS

Amounts falling due after more than one year

6

(18,406

)

(24,983

)

PROVISIONS FOR LIABILITIES

8

(56,000

)

(56,000

)

NET ASSETS

209,525

124,878

CAPITAL AND RESERVES

Called up share capital

9

8,800

8,778

Retained earnings

10

200,725

116,100

SHAREHOLDERS' FUNDS

209,525

124,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 April 2024 and were signed by:

F Cioccoloni - Director

1.	STATUTORY INFORMATION

Hylife 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.

Taxation

Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.

DEBTORS

31.8.23

31.8.22

€

€

Amounts falling due within one year:

Trade debtors

17,500

17,500

Other debtors

240

65,969

VAT

15

14

Prepayments and accrued income

20,850

-

38,605

83,483

31.8.23

31.8.22

€

€

Amounts falling due after more than one year:

Other debtors

38,500

-

Aggregate amounts

77,105

83,483

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

€

€

Trade creditors

173

7,626

Tax

35,415

4,065

Social security and other taxes

3,370

2,244

Pension Due

325

266

Accrued expenses

3,758

-

43,041

14,201

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

€

€

Bank loans (see note 7)

18,406

-

Other creditors

-

24,983

18,406

24,983

7.

LOANS

An analysis of the maturity of loans is given below:

31.8.23

31.8.22

€

€

Amounts falling due between two and five years:

Bank loans - 2-5 years

18,406

-

8.	PROVISIONS FOR LIABILITIES

31.8.23

31.8.22

€

€

Other provisions

56,000

56,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

€

€

8,000

Ordinary

£1

8,800

8,778

10.

RESERVES

Retained

earnings

€

At 1 September 2022

116,100

Profit for the year

131,843

Dividends

(47,218

)

At 31 August 2023

200,725