HIDDEN ROAD PARTNERS CIV UK LTD
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Next accounts due
2027-09-30 (in 1y)
Last filed for 2025-12-31
Confirmation statement due
2027-02-12 (in 9mo)
Last made up 2026-01-29
Watchouts
Cash
£56M
USD 74,545,833
+121.4% vs 2024
Net assets
£31M
USD 41,089,184
+499.8% vs 2024
Employees
—
Average over period
Profit before tax
-£569K
USD -760,886
+60.2% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Turnover | £1,840,642 | £4,796,409 | |
| Operating profit | -£1,924,651 | -£1,367,769 | |
| Profit before tax | -£1,430,737 | -£568,802 | |
| Net profit | -£1,430,737 | -£568,802 | |
| Cash | £25,170,081 | £55,726,869 | |
| Total assets less current liabilities | £5,120,782 | £30,716,292 | |
| Net assets | £5,120,782 | £30,716,292 | |
| Equity | £5,120,782 | £30,716,292 | |
| Average employees | — | — | |
| Wages | £2,492,139 | £4,979,438 | |
| Directors' remuneration | £341,232 | £704,615 |
Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2024 → FY2025 · period ending 2025-12-31 vs 2024-12-31
-
Turnover
+160.6%
£1,840,642 £4,796,409
-
Cash
+121.4%
£25,170,081 £55,726,869
-
Net assets
+499.8%
£5,120,782 £30,716,292
-
Employees
—
Not reported
-
Operating profit
+28.9%
-£1,924,651 -£1,367,769
-
Profit before tax
+60.2%
-£1,430,737 -£568,802
-
Wages
+99.8%
£2,492,139 £4,979,438
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | -104.6% | -28.5% | |
| Net margin | -77.7% | -11.9% | |
| Return on capital employed | -37.6% | -4.5% | |
| Current ratio | 1.25x | 1.82x | |
| Interest cover | -120290.69x | -11.77x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Moore Kingston Smith LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have reviewed the forecasts for the Group and Company and have a reasonable expectation that the Company has adequate resources to continue as a going concern for the foreseeable future, being at least twelve months from the date these financial statements have been approved.”
Significant events
- “On the 21st October 2025, the holding company, Hidden Road Inc, was wholly acquired by Ripple Labs Inc. for $1.25 billion in the form of a mixture of cash, XRP and Ripple Labs Inc stock.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BATES, Laura Jane | Director | 2023-03-23 | Feb 1980 | British |
| HARVIE, John Spencer | Director | 2024-05-29 | Sep 1973 | British |
| HIGGINS, Michael Patrick | Director | 2019-07-23 | Aug 1983 | American |
| SOOR, Charandeep | Director | 2025-02-19 | Nov 1981 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ASCH, Marc | Director | 2018-11-30 | 2023-03-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Christian Anton Larsen | Individual | Voting 50–75% | 2025-10-21 | Active |
| Mr Marc Asch | Individual | Voting 75–100% | 2021-11-19 | Ceased 2025-10-21 |
| Hidden Road Partners Civ International Holdco Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-11-30 | Ceased 2021-11-19 |
Filing timeline
Last 20 of 52 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-03-14 RESOLUTIONS Resolution
- 2024-03-14 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-26 | SH01 | capital | Capital allotment shares | |
| 2026-03-15 | AA | accounts | Accounts with accounts type full | |
| 2026-02-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-05 | SH01 | capital | Capital allotment shares | |
| 2025-11-10 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-11-06 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-05-23 | SH01 | capital | Capital allotment shares | |
| 2025-05-19 | AA | accounts | Accounts with accounts type full | |
| 2025-05-06 | SH01 | capital | Capital allotment shares | |
| 2025-02-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-08-24 | AA | accounts | Accounts with accounts type full | |
| 2024-06-24 | SH01 | capital | Capital allotment shares | |
| 2024-06-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-03-14 | MA | incorporation | Memorandum articles | |
| 2024-02-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-26 | CH01 | officers | Change person director company with change date | |
| 2023-10-04 | AA | accounts | Accounts with accounts type full | |
| 2023-04-25 | PSC04 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 5
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.