Silverfin false 31/12/2021 31/12/2021 01/01/2021 Brian Imray 12/07/2018 Dag Pettersen 12/07/2018 15 June 2022 The principal activity of the Company during the financial year was providing the oil industry with software packages. SC602100 2021-12-31 SC602100 bus:Director1 2021-12-31 SC602100 bus:Director2 2021-12-31 SC602100 2020-12-31 SC602100 core:CurrentFinancialInstruments 2021-12-31 SC602100 core:CurrentFinancialInstruments 2020-12-31 SC602100 core:ShareCapital 2021-12-31 SC602100 core:ShareCapital 2020-12-31 SC602100 core:RetainedEarningsAccumulatedLosses 2021-12-31 SC602100 core:RetainedEarningsAccumulatedLosses 2020-12-31 SC602100 core:ImmediateParent core:CurrentFinancialInstruments 2021-12-31 SC602100 core:ImmediateParent core:CurrentFinancialInstruments 2020-12-31 SC602100 bus:OrdinaryShareClass1 2021-12-31 SC602100 2021-01-01 2021-12-31 SC602100 bus:FullAccounts 2021-01-01 2021-12-31 SC602100 bus:SmallEntities 2021-01-01 2021-12-31 SC602100 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 SC602100 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 SC602100 bus:Director1 2021-01-01 2021-12-31 SC602100 bus:Director2 2021-01-01 2021-12-31 SC602100 2020-01-01 2020-12-31 SC602100 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 SC602100 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 SC602100 1 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC602100 (Scotland)

UK HUB DATA EXCHANGE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH THE REGISTRAR

UK HUB DATA EXCHANGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021

Contents

UK HUB DATA EXCHANGE LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2021
UK HUB DATA EXCHANGE LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2021
Note 2021 2020
£ £
Current assets
Cash at bank and in hand 3 340 670
340 670
Creditors
Amounts falling due within one year 4 ( 8,107) ( 5,723)
Net current liabilities (7,767) (5,053)
Total assets less current liabilities (7,767) (5,053)
Net liabilities ( 7,767) ( 5,053)
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account ( 7,768 ) ( 5,054 )
Total shareholder's deficit ( 7,767) ( 5,053)

For the financial year ending 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 financial statements of UK Hub Data Exchange Limited (registered number: SC602100) were approved and authorised for issue by the Director on 15 June 2022. They were signed on its behalf by:

Dag Pettersen
Director
UK HUB DATA EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
UK HUB DATA EXCHANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

UK Hub Data Exchange Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 28 Albyn Place, Aberdeen, AB10 1YL, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £7,767. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Cash and cash equivalents

Cash and cash equivalents 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Cash and cash equivalents

2021 2020
£ £
Cash at bank and in hand 340 670

4. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 86 0
Amounts owed to Parent undertakings 6,580 4,355
Other creditors 1,441 1,368
8,107 5,723

5. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

6. Related party transactions

The company has taken advantage of the exemption available in Section 33 for FRS 102 Related Party Disclosures not to disclose transactions entered into between two or more members of a group where the subsidiary is wholly owned.

7. Ultimate controlling party

The immediate holding company is Sharecat Solutions Limited which is registered in Scotland.

The company's ultimate holding company and controlling party is Borea Opportunity II AS, which is registered in Norway.

Sharecat Holding AS is the smallest undertaking for which consolidated financial statements, which include the financial statements of UK Hub Data Exchange Limited, are prepared. The registered address of Sharecat Holding AS is Midtunhaugen 10, 5224 Nesttun, Bergen, Norway.