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REGISTERED NUMBER: 15638440 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 APRIL 2024 TO 31 MARCH 2025

FOR

HVN LABS LTD

HVN LABS LTD (REGISTERED NUMBER: 15638440)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HVN LABS LTD

COMPANY INFORMATION
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025







DIRECTORS: M E Brenchley
N Caddick
A W Philp
J E Ronay
M J Talboys





REGISTERED OFFICE: Easton
Sham Castle Lane
Bath
Bath And North East Somer
BA2 6JL





REGISTERED NUMBER: 15638440 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

HVN LABS LTD (REGISTERED NUMBER: 15638440)

BALANCE SHEET
31 MARCH 2025

Notes £   
FIXED ASSETS
Tangible assets 5 8,451

CURRENT ASSETS
Debtors 6 192,019
Cash and cash equivalents 87,008
279,027
CREDITORS
Amounts falling due within one year 7 (305,617 )
NET CURRENT LIABILITIES (26,590 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,139 )

PROVISIONS FOR LIABILITIES 8 (2,113 )
NET LIABILITIES (20,252 )

CAPITAL AND RESERVES
Called up share capital 9 1
Retained earnings (20,253 )
SHAREHOLDERS' FUNDS (20,252 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HVN LABS LTD (REGISTERED NUMBER: 15638440)

BALANCE SHEET - continued
31 MARCH 2025


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:





J E Ronay - Director


HVN LABS LTD (REGISTERED NUMBER: 15638440)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025

1. STATUTORY INFORMATION

Hvn Labs Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company had net liabilities of £20,252 at the balance sheet date. The directors have considered the financial position of the company and believe it will have adequate resources to meet its liabilities as they fall due. Accordingly, they consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover represents the amounts invoiced for the provision of drone swarm technology services, including autonomous drone operations, aerial inspections, payload delivery, and related engineering solutions across sectors such as agriculture, construction, and security. Turnover is recognised on the delivery of services in accordance with FRS 102.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 3 years
Computer equipment - at varying rates on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the performance model.

The grant will therefore be recognised in other income when the grant proceeds are received or receivable provided the terms of the grant do not impose future performance related conditions.

If the terms of the grant do impose future performance related conditions, the grant is only recognised in
income when the performance related conditions are met.

Any grants that are received before the recognition criteria is met are recognised in the entity's financial
statements as a liability.

HVN LABS LTD (REGISTERED NUMBER: 15638440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025

3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Loans repayable on demand
The company has received loans which are legally repayable on demand. In accordance with FRS 102, Section 11, such loans are not considered financing transactions as they are repayable at the discretion of the lender and do not involve deferred settlement terms.

These loans are therefore measured at the undiscounted amount of the cash received, which represents cost, and are presented as current liabilities in the balance sheet. No interest is accrued on these balances unless and until interest is contractually agreed or charged.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 .

HVN LABS LTD (REGISTERED NUMBER: 15638440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 10,710
At 31 March 2025 10,710
DEPRECIATION
Charge for period 2,259
At 31 March 2025 2,259
NET BOOK VALUE
At 31 March 2025 8,451

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 18,244
Other debtors 173,775
192,019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 21,479
Taxation and social security 28,433
Other creditors 255,705
305,617

8. PROVISIONS FOR LIABILITIES
£   
Deferred tax 2,113

Deferred
tax
£   
Provided during period 2,113
Balance at 31 March 2025 2,113

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1,000,000 Ordinary .0000001 1

HVN LABS LTD (REGISTERED NUMBER: 15638440)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 APRIL 2024 TO 31 MARCH 2025

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £17,304.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors £37. The amount bears no interest, is repayable on demand and is disclosed within creditors due in less than 1 year.