Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312023-11-30trueData processing, hosting and related activitiesfalse33falsefalse 15319281 2023-11-29 15319281 2023-11-30 2024-12-31 15319281 2023-01-01 2023-11-29 15319281 2024-12-31 15319281 c:Director1 2023-11-30 2024-12-31 15319281 c:Director2 2023-11-30 2024-12-31 15319281 d:ComputerEquipment 2023-11-30 2024-12-31 15319281 d:ComputerEquipment 2024-12-31 15319281 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-11-30 2024-12-31 15319281 d:Goodwill 2024-12-31 15319281 d:CurrentFinancialInstruments 2024-12-31 15319281 d:Non-currentFinancialInstruments 2024-12-31 15319281 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 15319281 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 15319281 d:ShareCapital 2024-12-31 15319281 d:RetainedEarningsAccumulatedLosses 2024-12-31 15319281 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 15319281 c:OrdinaryShareClass1 2023-11-30 2024-12-31 15319281 c:OrdinaryShareClass1 2024-12-31 15319281 c:FRS102 2023-11-30 2024-12-31 15319281 c:Audited 2023-11-30 2024-12-31 15319281 c:FullAccounts 2023-11-30 2024-12-31 15319281 c:PrivateLimitedCompanyLtd 2023-11-30 2024-12-31 15319281 c:SmallCompaniesRegimeForAccounts 2023-11-30 2024-12-31 15319281 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-11-30 2024-12-31 15319281 d:Goodwill d:OwnedIntangibleAssets 2023-11-30 2024-12-31 15319281 e:PoundSterling 2023-11-30 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 15319281














 
 
 
 
 
HEART INTERNET LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

 
HEART INTERNET LIMITED
REGISTERED NUMBER:15319281

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
6,925,620

Tangible assets
 5 
39,153

  
6,964,773

Current assets
  

Debtors
 6 
2,664,149

Bank and cash balances
  
1,052,405

Current liabilities
  
3,716,554

Creditors: amounts falling due within one year
 7 
(2,269,271)

Net current assets
  
 
 
1,447,283

Total assets less current liabilities
  
8,412,056

Creditors: amounts falling due after more than one year
 8 
(7,580,340)

Provisions for liabilities
  

Deferred tax
 9 
(9,788)

Net assets
  
821,928


Capital and reserves
  

Called up share capital 
 10 
1

Profit and loss account
  
821,927

  
821,928


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 July 2025.




C Cousins
B A Law
Director
Director

Page 1

 
HEART INTERNET LIMITED
REGISTERED NUMBER:15319281
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

Heart Internet Limited is a private limited liability company incorporated in England and Wales. The Company's registered and business office address is at Units 4-5 Tristram Centre, Brown Lane West, Leeds, England, LS12 6BF
The Company was incorporated on 30 November 2023 and commenced activities on the same date.
The Company's principal activity is to provide web hosting, network services and issue internet domain names.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

The Company's functional and presentational currency is £ Sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Page 3

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Turnover

Revenue is recognised when a contract exists with a customer, and the related products or services have been transferred, provided it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. The contracts entered into may involve a mix of combination of products and services, which may either be separately identifiable and accounted for as distinct performance obligations, or not distinct and thus recognised as a single performance obligation. The total contract value is allocated to each performance obligation based on its Standalone Selling Price (SSP) to determine the overall revenue for the respective product or service.
Revenue is reported under the following categories:

Domains
Domain revenue primarily comprises income from domain registrations and renewals, domain privacy services, domain application fees, domain back-orders, aftermarket domain sales, and fee surcharges paid to ICANN (The Internet Corporation for Assigned Names and Numbers). Revenue is initially recognised as contract liabilities (deferred revenue) when consideration is received, typically at the time of sale. Revenue, except for aftermarket domain sales, is recognised over the period during which the performance obligations are satisfied, which is generally aligned with the contract term.
Revenue from aftermarket domain sales is recognised upon the transfer of ownership of the domain to the buyer.
Hosting and Presence
Hosting and presence revenue primarily consists of website hosting products, website building products, website security products and online visibility products. Consideration is recorded as contract liabilities (deferred revenue) when received, typically at the time of sale. Revenue is recognised over the period in which the related performance obligations are satisfied, which is generally over the contract term.
Business Applications
Business applications revenue primarily consists of third-party productivity applications, email accounts and email marketing tools. Consideration is recorded as contract liabilities (deferred revenue) when received, typically at the time of sale. Revenue is recognised over the period in which the related performance obligations are satisfied, which is generally over the contract term..

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Page 4

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Pensions

The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Intangible assets - Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the Company’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its estimated useful life of 10 years.

Page 5

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
5 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at the transaction price, less any impairment.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from related parties.
 
Page 6

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans
and other accounts receivable and payable, are initially measured at present value of the future cash
flows and subsequently at amortised cost using the effective interest method. Debt instruments that
are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
or received.



3.


Employees

The average monthly number of employees, including directors, during the period was 33.


4.


Intangible assets



Goodwill

£



Cost


Additions
7,487,157



At 31 December 2024

7,487,157



Amortisation


Charge for the period on owned assets
561,537



At 31 December 2024

561,537



Net book value



At 31 December 2024
6,925,620



Page 7

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Computer equipment

£



Cost


Additions
45,378



At 31 December 2024

45,378



Depreciation


Charge for the period on owned assets
6,225



At 31 December 2024

6,225



Net book value



At 31 December 2024
39,153

Page 8

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Debtors

2024
£


Trade debtors
770,000

Amounts owed by group undertakings
1,828,936

Other debtors
600

Prepayments and accrued income
64,613

2,664,149



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
538,317

Corporation tax
14,871

Other taxation and social security
305,292

Other creditors
7,409

Accruals and deferred income
1,403,382

2,269,271



8.


Creditors: Amounts falling due after more than one year

2024
£

Amounts owed to group undertakings
7,580,340


The loan has been granted by the intermediary holding company. It is unsecured, carries a floating interest rate of 7.75%, and is repayable by 31 December 2030.


9.


Deferred taxation



2024


£






Charged to profit or loss
9,788



At end of period
9,788

Page 9

 
HEART INTERNET LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
9,788


10.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £0.01 each
1


The 100 ordinary shares of £0.01 each were allotted and fully paid at par on incorporation to provide initial capital.


11.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


12.


Controlling party

The Company’s immediate parent entity is Your.Online UK Financq Limited, a company incorporated in the United Kingdom.
The directors consider the ultimate controlling party to be Strikwerda Investments B.V., a company registered in the Netherlands.
The ultimate beneficial owner is T Strikwerda.


13.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 15 July 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 10