Company No: 11749648 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Dr S Meskendahl
	J A Seal-Driver
REGISTERED OFFICE	66 Lincoln's Inn Fields
	London
	WC2A 3LH
	United Kingdom
COMPANY NUMBER	11749648(England and Wales)
AUDITOR	Makesworth Audit Services Ltd
	Unit 101, First Floor
	Cervantes House, 5-9 Headstone Road
	Harrow
	Middlesex
	HA1 1PD

		31.12.2020		31.03.2020
	Note	£		£
Current assets
Debtors	3	14,535		28,523
Cash at bank and in hand		37,312		6,876
		51,847		35,399
Creditors
Amounts falling due within one year	4	( 43,318)		( 1,164,821)
Net current assets/(liabilities)		8,529		(1,129,422)
Total assets less current liabilities		8,529		(1,129,422)
Net assets/(liabilities)		8,529		( 1,129,422)
Capital and reserves
Called-up share capital	5	1		0
Profit and loss account		8,528		( 1,129,422 )
Total shareholders' funds/(deficit)		8,529		( 1,129,422)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Blacklane Havn UK Ltd (registered number: 11749648) were approved and authorised for issue by the Board of Directors on 04 November 2021. They were signed on its behalf by:

Dr S Meskendahl Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period.

General information and basis of accounting

Blacklane Havn UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 66 Lincoln's Inn Fields, London, WC2A 3LH, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The financial statements for this period are the first financial statements that have been prepared in accordance with Section 1A of FRS 102. The previous financial statements were prepared in accordance with The International Financial Reporting Standards ("IFRSs") as adopted by the European Union. The date of transition was 4 January 2019. There were no adjustments required on transition.

The current accounting period was shortened to 9 months, ending on 31 December 2020, in order to align it with the group financial year. The previous accounting period commenced on 4 January 2019 and ended on 31 March 2020.

On 23 April 2021, the Company filed a special resolution to change its name from InMotion Ventures 4 Limited to Blacklane Havn UK Ltd.

The functional currency of Blacklane Havn UK Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The rapid spreading of COVID-19 continues to be a significant emerging risk to the global economy. The directors continues to monitor the impact of the virus on the business as more information about the pandemic emerges. Given the nature of the Company's industry, the effects of the COVID-19 severely impacted the Company's ability to generate revenue.

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. During the period, the Company has undergone a change in ownership, with Blacklane GmbH being the new parent company of the Company. Blacklane GmbH have provided support in the form of a loan to the Company since the period-end, and the directors of Blacklane GmbH have confirmed that they will continue to fund and support the Company as and when required. In addition, as the effects of the COVID-19 pandemic subside, the directors expect revenue to grow steadily and to become profitable over the following 12 months. On this basis, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements.

Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax assets and liabilities are not discounted.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through the Income Statement, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable.

2. Employees

	Period from 01.04.2020 to 31.12.2020		Period from 01.01.2019 to 31.03.2020
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	14		10

3. Debtors

	31.12.2020		31.03.2020
	£		£
Trade debtors	2,560		12,879
Other taxation and social security	11,975		7,996
Other debtors	0		7,648
	14,535		28,523

4. Creditors: amounts falling due within one year

	31.12.2020		31.03.2020
	£		£
Trade creditors	23,702		13,983
Amounts owed to Parent undertakings	0		1,083,736
Other creditors	8,545		53,549
Other taxation and social security	11,071		13,553
	43,318		1,164,821

5. Called-up share capital

	31.12.2020		31.03.2020
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each (31.03.2020: 1 share of £ 0.01 )	1.00		0.01

6. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	31.12.2020		31.03.2020
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	1,045		2,067

7. Related party transactions

Remuneration of £10,417 (March 2020: £Nil) was paid to the directors during the period. The directors are the only key management personnel of this Company.

The Company has taken advantage of the exemption available under FRS 102 Section 1A not to disclose details of transactions with wholly owned members of the group headed by the parent company.

8. Audit Opinion

The auditor's report on the accounts for the financial period ended 31 December 2020 was unqualified.

The audit report was signed by Indra Giri FCCA on behalf of Makesworth Audit Services Ltd.

9. Ultimate controlling party

The Company is a subsidiary of Blacklane GmbH, which is the parent of the smallest and largest group for which consolidated financial statements are prepared. Blacklane GmbH is registered at Feurigstraße 59, 10827 Berlin, Germany.