REGISTERED NUMBER: 10363009 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

AHA RETAIL PARTNERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Kristofersson

J Lakhani

O A Ragnarsson

REGISTERED OFFICE:

Building 1000 Cambridge Research Park

Cambridge Research Park

Waterbeach

Cambridgeshire

CB25 9PD

REGISTERED NUMBER:

10363009 (England and Wales)

ACCOUNTANTS:

Green and Purple Limited

Building 1000

Cambridge Research Park

Waterbeach

Cambridgeshire

CB25 9PD

FIXED ASSETS

Intangible assets

4

7,088

10,241

Tangible assets

5

620

838

7,708

11,079

CURRENT ASSETS

Debtors

6

188,172

245,184

Cash at bank

813

2,780

188,985

247,964

CREDITORS

Amounts falling due within one year

7

(63,134

)

(114,154

)

NET CURRENT ASSETS

125,851

133,810

TOTAL ASSETS LESS CURRENT LIABILITIES

133,559

144,889

CREDITORS

Amounts falling due after more than one year

8

(870,898

)

(872,590

)

PROVISIONS FOR LIABILITIES

(1,464

)

(2,105

)

NET LIABILITIES

(738,803

)

(729,806

)

CAPITAL AND RESERVES

Called up share capital

9

9,000

9,000

Share premium

139,782

139,782

Retained earnings

(887,585

)

(878,588

)

SHAREHOLDERS' FUNDS

(738,803

)

(729,806

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 29 September 2025 and were signed on its behalf by:

M Kristofersson - Director

1.	Statutory information

AHA Retail Partners 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.

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

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.

Going Concern

At 31 December 2024 the company has net liabilities of £738,803 (2023 : £729,806) . The directors consider the use of the going concern basis of accounting is appropriate although there are uncertainties that may cast significant doubt about the ability of the company to continue as a going concern without continued support from shareholders and creditors. The directors consider that loan and trading balances totalling £187,927 due from the sister companies, Netgengio ehf and Distro ehf. are fully recoverable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of seven years.

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 - 20% straight line

Computer equipment - 50% straight line

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 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 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.

Research and development

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

3.	Employees and directors

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

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 January 2024

and 31 December 2024

1,038,457

Amortisation

At 1 January 2024

1,028,216

Charge for year

3,153

At 31 December 2024

1,031,369

Net book value

At 31 December 2024

7,088

At 31 December 2023

10,241

5.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2024

and 31 December 2024

8,557

Depreciation

At 1 January 2024

7,719

Charge for year

218

At 31 December 2024

7,937

Net book value

At 31 December 2024

620

At 31 December 2023

838

6.

Debtors

2024

2023

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

187,927

242,913

Other debtors

245

1,304

188,172

244,217

Amounts falling due after more than one year:

Other debtors

-

967

Aggregate amounts

188,172

245,184

Group balances comprise:

Unsecured loans from Netgengio ehf and Distro ehf, companies owned by HMM ehf. These are interest free and repayable on demand.

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

9,617

10,031

Trade creditors

34,251

68,257

Other creditors

19,266

35,866

63,134

114,154

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

11,326

15,882

Other creditors

859,572

856,708

870,898

872,590

Other creditors include:

An unsecured loan from the parent company Hmm ehf, a company also controlled by Mr M Kristofersson which is repayable on demand starting 30 September 2024. Interest is accrued at 8% p.a.

Bank loans:

Term loan of £47,101 for 6 years under government guarantee, interest payable at 2.5% p.a. for years 2 to 6, repayable in 60 equal installments commencing in August 2021. The total amount repayable for more than a year is £11,326.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

900,000

Ordinary

0.01

9,000

9,000

10.	Related party disclosures

During the year, Distro ehf., a sister company registered in Iceland which is fully owned by Hmm ehf. and controlled by Mr M Kristofersson made partial payments towards the amount owed to the Company. At 31 December 2024, the balance due from Distro ehf was £22,225 (2023: £36,750).

During the year, Netgengio ehf., a sister company registered in Iceland which is 93.74% owned by Hmm ehf. and controlled by Mr M Kristofersson made partial payments towards the amount owed to the Company. At 31 December 2024, the balance due from Netgengio ehf was £206,164 (2023: £165,701).

11.	Ultimate controlling party

The company is controlled by Hmm ehf, a company registered in Iceland number 6604110700, which holds 89.46% of the issued shares. The registered office is at Bildshofoa 14, 110 Reykjavik, Iceland. Hmm ehf is controlled by Mr M Kristofersson.