Company No:
Contents
DIRECTOR | F Ileri |
REGISTERED OFFICE | Evelyn Partners Llp 14th Floor |
103 Colmore Row | |
Birmingham | |
B3 3AG | |
United Kingdom |
COMPANY NUMBER | 10827661 (England and Wales) |
ACCOUNTANT | Evelyn Partners LLP |
Portwall Place | |
Portwall Lane | |
Bristol | |
BS1 6NA |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
13,407 | 11,523 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand |
|
|
||
1,069,644 | 854,292 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
Net current assets | 932,319 | 683,466 | ||
Total assets less current liabilities | 945,726 | 694,989 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account |
|
|
||
Total shareholder's funds |
|
|
Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hummingbird UK Partners Limited (registered number:
F Ileri
Director |
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.
Hummingbird UK Partners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Evelyn Partners Llp 14th Floor, 103 Colmore Row, Birmingham, B3 3AG and its company number is 10827661.
The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis.
The director has made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Exchange differences are recognised in the Income Statement in the period in which they arise on monetary items.
***Rendering of services***
Administration services revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of turnover can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.
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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Leasehold improvements |
|
Office equipment |
|
Computer equipment |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Leasehold improve- ments |
Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 July 2023 |
|
|
|
|
|||
Additions |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 30 June 2024 |
|
|
|
|
|||
Accumulated depreciation | |||||||
At 01 July 2023 |
|
|
|
|
|||
Charge for the financial year |
|
|
|
|
|||
Disposals |
|
|
(
|
(
|
|||
At 30 June 2024 |
|
|
|
|
|||
Net book value | |||||||
At 30 June 2024 |
|
|
|
|
|||
At 30 June 2023 |
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Prepayments |
|
|
|
Deferred tax asset |
|
|
|
VAT recoverable |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank overdrafts |
|
|
|
Trade creditors |
|
|
|
Accruals |
|
|
|
Corporation tax |
|
|
|
Deferred tax liability |
|
|
|
Other creditors |
|
|
|
|
|
During the year, the Company sold services to and received a loan from a connected company, amounting to £3,693,812 (2023 - £3,095,678) and £4,060,023 (2023 - £3,018,904) respectively. At the year end the Company was owed £129,914 (2023 - £496,126). This amount is included within other debtors and is interest free and repayable on demand.
During the year, management charges of £597,200 (2023 - £489,000) were payable by the Company to a company under common control. At the year end there was no balance outstanding (2023 - £Nil).
The largest and smallest group of undertakings for which group accounts for the year ended 30 June 2024 have been drawn up is that headed by Hummingbird Ventures Management NV. Copies of the group accounts are available from Terhulpsesteenweg 185, 1170 Watermaal-Bosvoorde, Belgium.
The ultimate controlling party is Hummingbird Ventures Management NV, by virtue of their shareholding and directorship in the ultimate parent undertaking.