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# HUBSTA LIMITED

## Company Registration Number:
11244092 (England and Wales)

## Unaudited statutory accounts for the year ended 31 December 2024

## Period of accounts

## Start date: 1 January 2024

## End date: 31 December 2024

# HUBSTA LIMITED

## Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report |
Profit and loss |
Balance sheet |
Additional notes |
Balance sheet notes |

# HUBSTA LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The principle activity of the company was that of wireless telecommunications activity. The company ceased trading at the end of the prior period.

Additional information

Directors' insurance The company maintains insurance policies on behalf of all the directors against liability arising from negligence, breach of duty and breach of trust in relation to the company. Post reporting date events Post reporting date events are detailed in note 14. Future developments As the directors have decided to liquidate the company there are no future developments to disclose. Basis of Preparation The directors of the Company have decided to liquidate the Company as it is no longer trading. Therefore, the Company will not continue trading as a going concern as the Directors plan to initiate a process to liquidate the Company within 12 months of signing these accounts. The accounts have therefore been prepared on a basis other than a going concern. No adjustments have arisen as a result of not preparing the financial statements on a going concern basis. Small companies exemption This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Alex Hinchcliffe
Kristoffer Thoner
Ole Thorsnes

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 February 2026

And signed on behalf of the board by:
Name: Alex Hinchcliffe
Status: Director

# HUBSTA LIMITED

## Profit And Loss Account

for the Period Ended 31 December 2024

| 2024 | 2023
--- | --- | ---
| £ | £
Turnover: | 0 | 41,432
Cost of sales: | 0 | ( 9,629 )
Gross profit(or loss): | 0 | 31,803
Distribution costs: | 0 |
Administrative expenses: |  | ( 9,046 )
Operating profit(or loss): | 0 | 22,757
Profit(or loss) before tax: | 0 | 22,757
Profit(or loss) for the financial year: | 0 | 22,757

# HUBSTA LIMITED

## Balance sheet

As at 31 December 2024

| Notes | 2024 | 2023
--- | --- | --- | ---
|  | £ | £
Creditors: amounts falling due within one year: | 3 | ( 215,084 ) | ( 215,084 )
Net current assets (liabilities): |  | (215,084) | (215,084)
Total assets less current liabilities: |  | (215,084) | ( 215,084)
Total net assets (liabilities): |  | (215,084) | (215,084)
Capital and reserves
Called up share capital: |  | 100 | 100
Profit and loss account: |  | (215,184 ) | (215,184 )
Total Shareholders' funds: |  | ( 215,084 ) | (215,084)

The notes form part of these financial statements

# HUBSTA LIMITED

## Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

This report was approved by the board of directors on 17 February 2026
and signed on behalf of the board by:

Name: Alex Hinchcliffe
Status: Director

The notes form part of these financial statements

# HUBSTA LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

  Other accounting policies

  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. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts 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. This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which areintended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements: Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures; Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income; Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements; Section 33 ‘Related Party Disclosures’: Compensation for key management personnel. The disclosure of related party transactions between wholly owned members of the Statkraft SF Group. The financial statements of the company are consolidated in the financial statements of Statkraft SF. These consolidated financial statements are available from its registered office, P.O Box 200 Lilleaker, NO-0216, Oslo, Norway. Going concern Subsequent to year end, the directors of the Company have decided to liquidate the Company as it is no longer trading. Therefore, the Company will not continue trading as a going concern as the Directors plan to initiate a process to liquidate the Company within 12 months of signing these accounts. The accounts have therefore been prepared on a basis other than a going concern. No adjustments have arisen as a result of not preparing the financial statements on a going concern basis. 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. 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 payments 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. Amounts 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. 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. 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. 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. Judgements and key sources of estimation uncertainty There are no critical judgements or key sources of estimation uncertainty

# HUBSTA LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

- ## 2. Employees

  | 2024 | 2023
  --- | --- | ---
  Average number of employees during the period | 3 | 3

# HUBSTA LIMITED

## Notes to the Financial Statements

for the Period Ended 31 December 2024

## 3. Creditors: amounts falling due within one year note

| 2024 | 2023
--- | --- | ---
| £ | £
Other creditors | 215,084 | 215,084
Total | 215,084 | 215,084