HYBRID SOFTWARE UK LIMITED

Company Registration Number:
13074650 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2021

Period of accounts

Start date: 10 December 2020

End date: 31 December 2021

HYBRID SOFTWARE UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

HYBRID SOFTWARE UK LIMITED

Directors' report period ended 31 December 2021

The directors present their report with the financial statements of the company for the period ended 31 December 2021

Principal activities of the company

The principal activity of HYBRID Software UK Limited (“the Company”) is the provision of production software designed primarily for labels and packaging including native PDF workflow and editing, variable data embellishment and imposition, enterprise cloud solutions, scalable technology with low cost of ownership, and direct integration with leading Enterprise Resource Planning (ERP) systems and output devices.

Political and charitable donations

The Company made no political or charitable contributions during the period.

Company policy on disabled employees

The Company gives full and fair consideration to applications for employment from all persons where the candidate’s aptitudes and abilities meet the requirements of the job. In the event of any staff becoming disabled while employed by the Company, every effort is made to ensure that their employment by the Company continues and that appropriate adjustments are made to their work environment. The Company provides long-term health insurance for all staff if they are unable to work due to illness or disability whilst in employment.As a responsible employer, the Company provides modern and professional working environments in all locations. Compliant with all relevant human resources and health and safety regulations, the Company strives to offer competitive employment packages with opportunities for personal and professional development. Staff surveys are carried out with follow-up action plans alongside an internal communications programme to provide regular updates on performance.

Additional information

See Directors Report



Directors

The directors shown below have held office during the period of
27 May 2021 to 31 December 2021

Michael Rottenborn
Graeme Huttley


The directors shown below have held office during the whole of the period from
10 December 2020 to 31 December 2021

Guido Van der Schueren
Hybrid Software Development NV


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
6 September 2022

And signed on behalf of the board by:
Name: Michael Rottenborn
Status: Director

HYBRID SOFTWARE UK LIMITED

Profit And Loss Account

for the Period Ended 31 December 2021

13 months to 31 December 2021


£
Turnover: 224,687
Cost of sales: ( 86,072 )
Gross profit(or loss): 138,615
Administrative expenses: ( 470,711 )
Operating profit(or loss): (332,096)
Interest payable and similar charges: ( 9,229 )
Profit(or loss) before tax: (341,325)
Profit(or loss) for the financial year: (341,325)

HYBRID SOFTWARE UK LIMITED

Balance sheet

As at 31 December 2021

Notes 13 months to 31 December 2021


£
Called up share capital not paid: 0
Fixed assets
Intangible assets: 3 534,640
Tangible assets: 4 48,931
Total fixed assets: 583,571
Current assets
Debtors: 5 68,976
Cash at bank and in hand: 61,694
Total current assets: 130,670
Prepayments and accrued income: 118,821
Creditors: amounts falling due within one year: 6 ( 1,174,386 )
Net current assets (liabilities): (924,895)
Total assets less current liabilities: (341,324)
Total net assets (liabilities): (341,324)
Capital and reserves
Called up share capital: 1
Profit and loss account: (341,325 )
Total Shareholders' funds: ( 341,324 )

The notes form part of these financial statements

HYBRID SOFTWARE UK LIMITED

Balance sheet statements

For the year ending 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 6 September 2022
and signed on behalf of the board by:

Name: Michael Rottenborn
Status: Director

The notes form part of these financial statements

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the revenue amounts (excluding value added tax) derived from the provision of goods and services to customers.The Company typically licences its software direct to end users by a mix of perpetual and subscription-based licences.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset on a straight-line basis over its estimated useful life as follows: Motor vehicles: 3 to 5 yearsThe carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

    Intangible fixed assets amortisation policy

    Customer relationships are carried at historical cost (which was estimated to be their fair value on the acquisition date by the Company) less accumulated amortisation. Amortisation is calculated over the estimated useful lives of the respective relationships, over a period of 5 years. Amortisation is included within other operating expenses in the profit and loss account.

    Other accounting policies

    Foreign currencyTransactions denominated in foreign currencies are recorded in the local currency at actual exchange rates as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange prevailing at the balance sheet date. Any gain or loss arising is included in the profit and loss account.LeasesOperating lease rentals are charged to the profit and loss account on a straight line basis over the period of the lease.PensionsThe Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions are charged to the profit and loss account as they become payable in accordance with the plan rules.TaxationTax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: the initial recognition of goodwill; the initial recognition of assets or liabilities that affect neither accounting nor taxable profit other than in a business combination, and differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the temporary difference can be utilised.

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

  • 2. Employees

    13 months to 31 December 2021
    Average number of employees during the period 8

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 629,089 629,089
Disposals
Revaluations
Transfers
At 31 December 2021 629,089 629,089
Amortisation
Charge for year 94,449 94,449
On disposals
Other adjustments
At 31 December 2021 94,449 94,449
Net book value
At 31 December 2021 534,640 534,640

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 52,634 52,634
Disposals
Revaluations
Transfers
At 31 December 2021 52,634 52,634
Depreciation
Charge for year 3,703 3,703
On disposals
Other adjustments
At 31 December 2021 3,703 3,703
Net book value
At 31 December 2021 48,931 48,931

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

5. Debtors

13 months to 31 December 2021
£
Trade debtors 68,976
Total 68,976

HYBRID SOFTWARE UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

6. Creditors: amounts falling due within one year note

13 months to 31 December 2021
£
Trade creditors 1,145
Accruals and deferred income 107,560
Other creditors 1,065,681
Total 1,174,386