Hut Eight Digital Development Limited 13376263 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is business software development and information technology services Digita Accounts Production Advanced 6.30.9574.0 true true 13376263 2023-10-01 2024-09-30 13376263 2024-09-30 13376263 bus:OrdinaryShareClass1 2024-09-30 13376263 core:CurrentFinancialInstruments 2024-09-30 13376263 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 13376263 core:FurnitureFittingsToolsEquipment 2024-09-30 13376263 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-09-30 13376263 core:ParentEntities 2024-09-30 13376263 bus:SmallEntities 2023-10-01 2024-09-30 13376263 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 13376263 bus:FilletedAccounts 2023-10-01 2024-09-30 13376263 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 13376263 bus:RegisteredOffice 2023-10-01 2024-09-30 13376263 bus:Director1 2023-10-01 2024-09-30 13376263 bus:Director2 2023-10-01 2024-09-30 13376263 bus:Director3 2023-10-01 2024-09-30 13376263 bus:Director4 2023-10-01 2024-09-30 13376263 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 13376263 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 13376263 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 13376263 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-10-01 2024-09-30 13376263 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2023-10-01 2024-09-30 13376263 core:ParentEntities 2023-10-01 2024-09-30 13376263 core:ParentEntities core:RenderingOrReceivingServices 2023-10-01 2024-09-30 13376263 countries:England 2023-10-01 2024-09-30 13376263 2023-09-30 13376263 core:ParentEntities 2023-09-30 13376263 2022-10-01 2023-09-30 13376263 2023-09-30 13376263 bus:OrdinaryShareClass1 2023-09-30 13376263 core:CurrentFinancialInstruments 2023-09-30 13376263 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13376263 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-09-30 13376263 core:ParentEntities 2023-09-30 13376263 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:RenderingOrReceivingServices 2022-10-01 2023-09-30 13376263 core:ParentEntities 2022-10-01 2023-09-30 13376263 core:ParentEntities core:RenderingOrReceivingServices 2022-10-01 2023-09-30 13376263 2022-09-30 13376263 core:ParentEntities 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13376263

Hut Eight Digital Development Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Hut Eight Digital Development Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Hut Eight Digital Development Limited

Company Information

Directors

Mr Martin Wiggins

Mr Eliot Farrugia

Mr Bradley Frendo

Mr Craig Freeman

Registered office

Unit 4 11-29 Fashion Street
London
E1 6PX

 

Hut Eight Digital Development Limited

(Registration number: 13376263)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,649

-

Current assets

 

Stocks

5

11,066

11,066

Debtors

6

168,467

112,515

Cash at bank and in hand

 

216

81,046

 

179,749

204,627

Prepayments and accrued income

 

720

500

Creditors: Amounts falling due within one year

(117,848)

(125,889)

Net current assets

 

62,621

79,238

Total assets less current liabilities

 

64,270

79,238

Accruals and deferred income

 

(3,425)

(1,500)

Net assets

 

60,845

77,738

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

60,745

77,638

Shareholders' funds

 

60,845

77,738

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Hut Eight Digital Development Limited

(Registration number: 13376263)
Abridged Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................

Mr Martin Wiggins

Director

.........................................

Mr Eliot Farrugia

Director

.........................................

Mr Bradley Frendo

Director

.........................................

Mr Craig Freeman

Director

 

Hut Eight Digital Development Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 4 11-29 Fashion Street
London
E1 6PX

These financial statements were authorised for issue by the Board on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hut Eight Digital Development Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hut Eight Digital Development Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,473

2,473

At 30 September 2024

2,473

2,473

Depreciation

Charge for the year

824

824

At 30 September 2024

824

824

Carrying amount

At 30 September 2024

1,649

1,649

5

Stocks

2024
£

2023
£

Work in progress

11,066

11,066

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

Hut Eight Digital Development Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

8

Dividends

2024

2023

£

£

Interim dividend of £600.00 (2023 - £1,000.00) per ordinary share

60,000

100,000

 

 

9

Related party transactions

Summary of transactions with parent

WHJE Limited owns 60% of the shares in the company
 

 The company invoices WHJE Limited for website design services. These invoices are payable on demand.

WHJE Limited invoices the company for management service. These invoices are payable on demand.
 

Summary of transactions with entities with joint control or significant interest

WHJE Limited owns 65% of the shares in Black Pear Creative Limited and 80% of Walden Page Smith Comms Limited, which owns 100% of Walden Page Ballard Limited
 Hut Eight Digital Development Limited invoices Black Pear Creative Limited and Walden Page Ballard Limited for website design services. These invoices are payable on demand.
 

Income and receivables from related parties

2024

Parent
£

Entities with joint control or significant influence
£

Receipt of services

105,085

6,010

Amounts receivable from related party

55,801

7,920

2023

Parent
£

Entities with joint control or significant influence
£

Receipt of services

85,741

2,650

Amounts receivable from related party

33,704

3,348

Expenditure with and payables to related parties

2024

Parent
£

Rendering of services

24,612

Amounts payable to related party

10,560

 

Hut Eight Digital Development Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

2023

Parent
£

Entities with joint control or significant influence
£

Rendering of services

28,400

650

Amounts payable to related party

2,640

780

Loans from related parties

2024

Parent
£

Total
£

At start of period

4,907

4,907

Advanced

33,722

33,722

Repaid

(11,905)

(11,905)

At end of period

26,724

26,724

2023

Parent
£

Total
£

At start of period

2,693

2,693

Advanced

2,214

2,214

At end of period

4,907

4,907