KURVE TECHNOLOGIES LIMITED

Company Registration Number:
11506377 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

KURVE TECHNOLOGIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

KURVE TECHNOLOGIES LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 0 196,446
Tangible assets: 4 132 0
Total fixed assets: 132 196,446
Current assets
Debtors: 5 12,711 33,115
Cash at bank and in hand: 13,425 86,645
Total current assets: 26,136 119,760
Creditors: amounts falling due within one year: 6 (173,952) (175,360)
Net current assets (liabilities): (147,816) (55,600)
Total assets less current liabilities: (147,684) 140,846
Creditors: amounts falling due after more than one year: 7 (1,170,000) (1,050,000)
Total net assets (liabilities): (1,317,684) (909,154)
Capital and reserves
Called up share capital: 200 200
Profit and loss account: (1,317,884) (909,354)
Shareholders funds: (1,317,684) (909,154)

The notes form part of these financial statements

KURVE TECHNOLOGIES LIMITED

Balance sheet statements

For the year ending 31 December 2023 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 26 September 2024
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 2023

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.

Tangible fixed assets and depreciation policy

Annual depreciation of Tangible fixed assets is calculated at 33.3% of cost to write off the cost of the asset, less its residual value, over its estimated useful economic lifetime.

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 2023

2. Employees

2023 2022
Average number of employees during the period 1 0

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible Assets

Total
Cost £
At 01 January 2023 642,914
Additions 0
At 31 December 2023 642,914
Amortisation
At 01 January 2023 446,468
Charge for year 196,446
At 31 December 2023 642,914
Net book value
At 31 December 2023 0
At 31 December 2022 196,446

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible Assets

Total
Cost £
At 01 January 2023 0
Additions 183
At 31 December 2023 183
Depreciation
At 01 January 2023 0
Charge for year 51
At 31 December 2023 51
Net book value
At 31 December 2023 132
At 31 December 2022 0

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
££
Debtors due after more than one year: 12,711 33,115

Debtors at 31 December 2023 included Prepayments of £4,841 (2022: £24,109), and Taxation of £7,870 (2022: £8,969).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

Trade creditors at 31 December 2023 was £3,654 (2022: £23,451). Accruals at 31 December 2023 was £35,564 (2022: £49,292). Taxes at 31 December 2023 was £3,276 (2022: £nil). Amounts owed to parent undertakings at 31 December 2023 was £131,459 (2022: £102,617).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

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

Amounts owed to parent undertakings at 31 December 2023 was £1,170,000 (2022: £1,050,000).

KURVE TECHNOLOGIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

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 £61,916 (2022: £51,876) net of VAT in respect of Activation, Hosting & Monitoring, and SaaS fees. During the year Insite Energy Limited charged the company £39,435 (2022: £52,079) in relation to externally provided workers, and £2,629 (2022: £113) in relation to general expenses. During the year Insite Energy Limited loaned the Company £60,000 (2022: £50,000). At the year-end £584,151 (2022: £525,029) was owed to Insite Energy Limited.
£
Balance at 01 January 2023 525,029
Balance at 31 December 2023 584,151
Name of the related party: S.A.V. United Kingdom Limited
Relationship:
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 £51,064 (2022: £74,679) net of VAT in respect of Activation and Hosting & Monitoring fees. During the year S.A.V. United Kingdom Limited charged the company £29,166 (2022: £118,373) in relation to externally provided workers, and £9,442 (2022: £10,906) in relation to IT costs. During the year S.A.V. United Kingdom Limited loaned the Company £60,000 (2022: £50,000). At the year-end £717,308 (2022: £627,588) was owed to S.A.V. United Kingdom Limited.
£
Balance at 01 January 2023 627,588
Balance at 31 December 2023 717,308