REGISTERED NUMBER: 04273928 (England and Wales)

Hug (UK) Limited

Unaudited Financial Statements

for the Year Ended 30th September 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N L P Pecorelli

REGISTERED OFFICE:

Suite B

2-6 Atlantic Road

Brixton

SW9 8HY

REGISTERED NUMBER:

04273928 (England and Wales)

ACCOUNTANTS:

Naail & Co

Chartered Certified Accountants

69 Lambeth Walk

London

SE11 6DX

FIXED ASSETS

Intangible assets

5

13,072

6,463

Property, plant and equipment

6

88,054

78,360

101,126

84,823

CURRENT ASSETS

Inventories

1,233,001

1,187,572

Debtors

589,070

309,933

Cash at bank and in hand

14,558

6,026

1,836,629

1,503,531

CREDITORS

Amounts falling due within one year

1,238,803

1,294,852

NET CURRENT ASSETS

597,826

208,679

TOTAL ASSETS LESS CURRENT LIABILITIES

698,952

293,502

CREDITORS

Amounts falling due after more than one year

(806,155

)

(118,540

)

PROVISIONS FOR LIABILITIES

8

(22,014

)

(14,888

)

NET (LIABILITIES)/ASSETS

(129,217

)

160,074

CAPITAL AND RESERVES

Called up share capital

9

155,054

155,054

Retained earnings

(284,271

)

5,020

SHAREHOLDERS' FUNDS

(129,217

)

160,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th September 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6th October 2026 and were signed by:

Mr N L P Pecorelli - Director

1.	STATUTORY INFORMATION

Hug (UK) 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.	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.

Turnover

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

Turnover is generated form the ordinary activities of the business and is recognized when the goods are delivered to the customer.

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 four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Long term contracts are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as revenue in respect of long term contracts is ascertained by reference to the value of the work carried out to date. Attributable profit is recognised as the difference between recorded revenue and related costs.

Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less any additional costs to sell.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 21 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st October 2024

10,753

Additions

10,133

At 30th September 2025

20,886

AMORTISATION

At 1st October 2024

4,290

Amortisation for year

3,524

At 30th September 2025

7,814

NET BOOK VALUE

At 30th September 2025

13,072

At 30th September 2024

6,463

6.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1st October 2024

131,013

Additions

39,045

At 30th September 2025

170,058

DEPRECIATION

At 1st October 2024

52,653

Charge for year

29,351

At 30th September 2025

82,004

NET BOOK VALUE

At 30th September 2025

88,054

At 30th September 2024

78,360

7.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Other loans

428,507

714,671

Amounts falling due between two and five years:

Other loans - 2-5 years

646,155

118,540

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

22,014

14,888

Deferred

tax

£

Balance at 1st October 2024

14,888

Charge to Income Statement during year

7,126

Balance at 30th September 2025

22,014

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

155,054

Ordinary

£1

155,054

155,054

10.	RELATED PARTY DISCLOSURES

Mr N Pecorelli

Director

At the reporting date, the company owed £433,336 (2024: £282,536) to Mr Pecorelli. This is an interest free loan with no set repayment