KURVE TECHNOLOGIES LIMITED

Company Registration Number:
11506377 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2021

Period of accounts

Start date: 01 January 2021

End date: 31 December 2021

KURVE TECHNOLOGIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2021

Balance sheet
Notes

KURVE TECHNOLOGIES LIMITED

Balance sheet

As at 31 December 2021


Notes

2021

2020


£

£
Fixed assets
Intangible assets: 3 410,750 625,097
Total fixed assets: 410,750 625,097
Current assets
Debtors: 4 88,791 8,057
Cash at bank and in hand: 40,948 139,246
Total current assets: 129,739 147,303
Creditors: amounts falling due within one year: 5 (154,721) (57,889)
Net current assets (liabilities): (24,982) 89,414
Total assets less current liabilities: 385,768 714,511
Creditors: amounts falling due after more than one year: 6 (950,000) (800,000)
Total net assets (liabilities): (564,232) (85,489)
Capital and reserves
Called up share capital: 200 200
Profit and loss account: (564,432) (85,689)
Shareholders funds: (564,232) (85,489)

The notes form part of these financial statements

KURVE TECHNOLOGIES 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.

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

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 September 2022
and signed on behalf of the board by:

Name: P E Tuch
Status: Director

The notes form part of these financial statements

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

1. Accounting policies

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

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. In respect of on-going contracts, turnover represents the value of work done in the year and is recognised on a monthly basis.

Intangible fixed assets and amortisation policy

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Amortisation is provided on the following bases: Development expenditure - 3 year straight line.

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

2. Employees

2021 2020
Average number of employees during the period 0 0

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

3. Intangible Assets

Total
Cost £
At 01 January 2021 642,955
Disposals (42)
At 31 December 2021 642,913
Amortisation
At 01 January 2021 17,858
Charge for year 214,305
At 31 December 2021 232,163
Net book value
At 31 December 2021 410,750
At 31 December 2020 625,097

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 0 0

Debtors at 31 December 2021 included Prepayments of £3,211 (2020: £0), Taxation of £22,165 (2020: £8,057), and Other Debtors of £63,415 (2020: £0).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

5. Creditors: amounts falling due within one year note

Trade creditors at 31 December 2021 was £25,526 (2020: £1,560). Accruals at 31 December 2021 was £126,216 (2020: £42,500). Amounts owed to parent undertakings at 31 December 2021 was £2,979 (2020: £13,829).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

6. Creditors: amounts falling due after more than one year note

Amounts owed to parent undertakings at 31 December 2021 was £950,000 (2020: £800,000).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

7. Changes in presentation and prior period adjustments

Correction of prior period error: Intangible assets had previously been incorrectly classified as Tangible assets. The prior period comparatives have been amended to reflect the position had they been correctly classified in the prior period.

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2021

8. Related party transactions

Name of the related party: Insite Energy Ltd
Relationship:
50% shareholding company
Description of the Transaction: During the year the company provided services to Insite Energy Limited to the value of £39,878 (2020: £130) net of VAT in respect of Activation, Hosting & Monitoring, and SaaS fees. During the year Insite Energy Limited charged the company £53,851 (2020: £53,735) in relation to externally provided workers, and £1,394 (2020: £183) in relation to general expenses. During the year Insite Energy Limited loaned the Company £75,000 (2020: £150,000). At the year-end £474,897 (2020: £409,590) was owed to Insite Energy Limited.
£
Balance at 01 January 2021 409,590
Balance at 31 December 2021 474,897
Name of the related party: S.A.V. United Kingdom Limited
Relationship:
Common shareholders of 50% shareholding company
Description of the Transaction: During the year the company provided services to S.A.V. United Kingdom Limited to the value of £37,566 (2020: £5,932) net of VAT in respect of Activation and Hosting & Monitoring fees. During the year S.A.V. United Kingdom Limited charged the company £90,891 (2020: £0) in relation to externally provided workers, £30,993 (2020: £44,402) in relation to IT costs, and £508 (2020: £0) in relation to general expenses. During the year S.A.V. United Kingdom Limited loaned the Company £75,000 (2020: £150,000). At the year-end £478,082 (2020: £404,239) was owed to S.A.V. United Kingdom Limited.
£
Balance at 01 January 2021 409,590
Balance at 31 December 2021 474,897