Hipcamp UK Limited - Accounts

HIPCAMP UK LIMITED - Company Information

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Registered Number: 05577942

England and Wales

Abridged Accounts

for the period ended 31 December 2021

for

HIPCAMP UK LIMITED

Hipcamp UK Limited
Contents Page
For the period ended 31 December 2021

Statement of financial position	1
Notes to the financial statements	2

Hipcamp UK Limited
Statement of Financial Position
As at 31 December 2021

	2021 £	2020 £
Fixed assets
Tangible fixed assets	9,277	29,399
	9,277	29,399
Current assets
Stocks	-	7,923
Debtors	26,720	60,320
Cash at bank and in hand	246,238	378,743
	272,958	446,986
Creditors: amount falling due within one year	(307,341)	(226,757)
Net current liabilities	(34,383)	220,229

Total assets less current liabilities	(25,106)	249,628
Creditors: amount falling due after more than one year	(485,631)	(334,262)
Net liabilities	(510,737)	(84,634)

Capital and reserves
Called up share capital	1,331	1,261
Share premium account	59,090	59,090
Profit and loss account	(571,158)	(144,985)
Shareholder's funds	(510,737)	(84,634)

For the period ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 29 September 2022 and were signed on its behalf by:

--------------------------------
Jonathan Knight
Director

Hipcamp UK Limited
Notes to the Abridged Financial Statements
For the period ended 31 December 2021

General Information

Hipcamp UK Limited is a private company, limited by shares, registered in England and Wales, registration number 05577942, registration address Summit House, 170 Finchley Road, London, NW3 6BP.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Website cost

Planning and operating costs for the company's website are charged to the profit and loss account as incurred.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment	20% Straight Line
Fixtures and Fittings	20% Straight Line
Plant and machinery	25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the period was 16 (2020 : 12).

Tangible fixed assets

Cost or valuation	Plant and machinery	Fixtures and Fittings	Computer Equipment	Total
	£	£	£	£
At 01 October 2020	2,600	4,720	30,200	37,520
Additions	-	6,802	-	6,802
Disposals	-	-	(30,200)	(30,200)
At 31 December 2021	2,600	11,522	-	14,122
Depreciation
At 01 October 2020	1,137	944	6,040	8,121
Charge for period	434	2,330	5,537	8,301
On disposals	-	-	(11,577)	(11,577)
At 31 December 2021	1,571	3,274	-	4,845
Net book values
Closing balance as at 31 December 2021	1,029	8,248	-	9,277
Opening balance as at 01 October 2020	1,463	3,776	24,160	29,399

Share Capital

Allotted, called up and fully paid	2021 £		2020 £
1,331 Class A shares of £1.00 each	1,331		1,261
	1,331		1,261

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)				Balance owed by/(owed to)
	2021 £		2020 £		2021 £		2020 £
Hipcamp	-		-		389,964		-

£389,964 was loaned to Hipcamp UK throughout the year as working capital, by the parent company Hipcamp Inc