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REGISTERED NUMBER: 04256108 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HUBLE DIGITAL GROUP LIMITED

HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


HUBLE DIGITAL GROUP LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: R J Dearsley
V J Dearsley
M A Norton
D C Smith
R J Harris
A Dwyer
A O'Connor
M Charbit





SECRETARY: R J Dearsley





REGISTERED OFFICE: 123 Buckingham Palace Road
London
SW1W 9SH





REGISTERED NUMBER: 04256108 (England and Wales)





AUDITORS: Oury Clark Chartered Accountants
Statutory Auditors
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,837,966 1,708,970

CURRENT ASSETS
Debtors 5 1,156,702 272,650
Cash at bank 53,379 243,673
1,210,081 516,323
CREDITORS
Amounts falling due within one year 6 2,608,900 861,074
NET CURRENT LIABILITIES (1,398,819 ) (344,751 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,439,147

1,364,219

CAPITAL AND RESERVES
Called up share capital 8 165 157
Share premium 9 947,094 649,137
Capital redemption reserve 9 35 35
Retained earnings 9 491,853 714,890
SHAREHOLDERS' FUNDS 1,439,147 1,364,219

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





M A Norton - Director


HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Huble Digital Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going basis basis, notwithstanding that the balance sheet is showing net current liabilities of £1,398,819. The directors believe this basis is appropriate as they have received confirmation from subsidiary undertakings that they will provide adequate resources for the company to continue for a period in excess of 12 months and 1 day from the date of the signing of the audit report.

Preparation of consolidated financial statements
The financial statements contain information about Huble Digital Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts charged to the company's subsidiary undertakings under a cost plus arrangement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

Financial instruments
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 1,708,970
Additions 1,347,594
Disposals (1,908 )
Impairments (216,690 )
At 31 March 2024 2,837,966
NET BOOK VALUE
At 31 March 2024 2,837,966
At 31 March 2023 1,708,970

HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 943,992 156,186
Other debtors 212,710 106,331
1,156,702 262,517

Amounts falling due after more than one year:
Other debtors & prepayments - 10,133

Aggregate amounts 1,156,702 272,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 129,117 1,657
Amounts owed to group undertakings 2,122,077 285,073
Taxation and social security 84,756 69,035
Other creditors & accruals 272,950 505,309
2,608,900 861,074

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 1,332 -

The operating lease has a notice period of 2 months. The amount committed to the end of the operating lease is £7,326 (2023: £nil).

HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal Value: 31.03.2024 31.03.2023
1,517,618 Ordinary £0.0001 £152 £144
100,000 Ordinary B £0.0001 £10 £10
30,000 Ordinary C £0.0001 £3 £3
£165 £157

50,000 Ordinary shares of £0.0001 each were alloted during the year as a result of the exercise of certain options over shares of the Company.

23,279 Ordinary shares of £0.0001 each were alloted during the year as part consideration for the shares in a new subsidiary undertaking.

Ordinary shares have full voting and dividend rights. Ordinary B shares have the right to participate in dividends but no voting rights. Ordinary C shares have no voting or dividend rights. All shares give rights to capital distribution on a winding up subject to certain restrictions between the share types.

9. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 714,890 649,137 35 1,364,062
Deficit for the year (223,037 ) (223,037 )
Cash share issue - 297,957 - 297,957
At 31 March 2024 491,853 947,094 35 1,438,982

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Lockwood (Senior Statutory Auditor)
for and on behalf of Oury Clark Chartered Accountants

We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-
"Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed."

HUBLE DIGITAL GROUP LIMITED (REGISTERED NUMBER: 04256108)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

11. OTHER FINANCIAL COMMITMENTS

The Company has guaranteed a business loan facility for up to USD 300,000 on behalf of a subsidiary undertaking. As at 31 March 2024, USD 150,000 (2023: USD nil) of the facility had been drawn down. The loan facility is repayable by the subsidiary on 30 November 2024.

12. ULTIMATE CONTROLLING PARTY

The controlling party is R J Dearsley.