Company registration number 09523301 (England and Wales)
HUUMUN GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HUUMUN GROUP LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
HUUMUN GROUP LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
3,706
3,706
Current assets
Debtors
4
1,482,645
1,114,802
Cash at bank and in hand
300,000
-
0
1,782,645
1,114,802
Creditors: amounts falling due within one year
5
(155,537)
(289,405)
Net current assets
1,627,108
825,397
Total assets less current liabilities
1,630,814
829,103
Creditors: amounts falling due after more than one year
6
(3,128,602)
(2,043,478)
Net liabilities
(1,497,788)
(1,214,375)
Capital and reserves
Called up share capital
9
132
132
Share premium account
975
975
Profit and loss reserves
(1,498,895)
(1,215,482)
Total equity
(1,497,788)
(1,214,375)

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 October 2025 and are signed on its behalf by:
T Wood
Director
Company registration number 09523301 (England and Wales)
HUUMUN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Huumun Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Parkshot, Richmond, Surrey, TW9 2RD.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The company's financial statements as at 31 December 2024 disclose net liabilities of £1,true 497,788 (202 3: net liabilities £1,214,375).

The directors have carried out a detailed review of the group’s financial position including a review of future cash-flows, forecasts and current and future established income. At the time of approving the financial statements, the directors are of the opinion that the will continue to be able to meet its financial obligations as they fall due and to continue in operational existence for at least the next twelve months from the date of approval of the accounts.

Therefore the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HUUMUN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Share-based payments
HUUMUN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

The company participates in EMI share-based payment arrangement granted to employees of its subsidiaries.

Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes model.

The expense in relation to options over the c ompany’s shares granted to employees of a subsidiary is recognised by the c ompany as a capital contribution, and presented as an increase in the company’s investment in that subsidiary. A corresponding adjustment is made to equity.

No adjustment would be made to the financial statements should the directors consider the value of the share options to not be material.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,706
3,706
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,482,045
1,114,795
Other debtors
600
7
1,482,645
1,114,802
HUUMUN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
59,924
Amounts owed to group undertakings
44,901
44,901
Other creditors
110,636
184,580
155,537
289,405
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
3,128,602
2,043,478
7
Loans and overdrafts
2024
2023
£
£
Other loans
3,239,238
2,228,058
Payable within one year
110,636
184,580
Payable after one year
3,128,602
2,043,478

Other loan s amounting to £3,239,238 (2023: £2,228,05 8) bear interest at a rate of 11-12% (2023: 11-12%).

The loans are secured by fixed charges over the company's current and future assets.

In August 2019, warrant shares were granted entitling the holder to subscribe for variable amounts of shares in the company. The directors have not carried out an independent valuation of the warrant shares as at the initial recognition date and as at 31 December 2024 because, in their opinion, the difference between the subscription price and the fair market value as at those dates is immaterial.

HUUMUN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
8
Share-based payment transactions
Number of share options
Weighted average exercise price
2024
2023
2024
2023
Number
Number
£
£
Outstanding at 1 January 2024
2,781,693
2,781,693
-
0
-
0
Forfeited
(230,715)
0
-
0
-
0
-
0
Outstanding at 31 December 2024
2,550,978
2,781,693
-
0
-
0
Exercisable at 31 December 2024
-
0
-
0
-
0
-
0

The company participates in EMI share-based payment arrangement granted to employees of its subsidiaries.

All options granted up to the year ended 31 December 202 4 may be exercised immediately prior to a sale of the group. The options will only be exercisable if a pre-determined group sale price at exit is achieved. The directors believe that at the present time the options are unlikely to become exercisable therefore no charge for share based payments has been made to the accounts. When an exit event becomes more likely than not, the share based payment charge will be measured at fair value at the date of grant using the Black-Scholes model spread over the remaining vesting period.

The options outstanding at 31 December 2024 had an exercise price of £0.00001.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of 0.001p each
10,000,000
10,000,000
100
100
Ordinary 'D' shares of 0.001p each
2,500,000
2,500,000
25
25
Ordinary 'B' shares of 0.001p each
651,042
651,042
7
7
13,151,042
13,151,042
132
132
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