Company Registration No. 11084159 (England and Wales)
The Holistic Hub Nottingham Limited
Unaudited accounts
for the year ended 28 February 2023
The Holistic Hub Nottingham Limited
Unaudited accounts
Contents
The Holistic Hub Nottingham Limited
Company Information
for the year ended 28 February 2023
Company Number
11084159 (England and Wales)
Registered Office
Unit 1A The Old Knows Factory
St. Anns Hill Road
Nottingham
NG3 4GN
England
Accountants
Embrace Accountants Ltd
37 St. Leonards Drive
Nottingham
NG8 2BB
The Holistic Hub Nottingham Limited
Statement of financial position
as at 28 February 2023
Tangible assets
9,133
13,628
Cash at bank and in hand
3,644
2,150
Creditors: amounts falling due within one year
(6,627)
(11,008)
Net current assets
10,034
6,291
Total assets less current liabilities
19,167
19,919
Creditors: amounts falling due after more than one year
(6,960)
(7,920)
Called up share capital
1
1
Profit and loss account
12,206
11,998
Shareholders' funds
12,207
11,999
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Ricky Berry
Director
Company Registration No. 11084159
The Holistic Hub Nottingham Limited
Notes to the Accounts
for the year ended 28 February 2023
The Holistic Hub Nottingham Limited is a private company, limited by shares, registered in England and Wales, registration number 11084159. The registered office is Unit 1A The Old Knows Factory, St. Anns Hill Road, Nottingham, NG3 4GN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Consolidated financial statements have not been prepared on the basis that the group qualifies as a small group as per the provisions outlined in s400 Companies Act 2006.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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, he continue to adopt the going concern basis in preparing the financial statements.
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 sale of goods is recognised when the goods are physically delivered to the customer. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The Holistic Hub Nottingham Limited
Notes to the Accounts
for the year ended 28 February 2023
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33% Straight Line
Computer equipment
33.33% Straight Line
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The Holistic Hub Nottingham Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2022
11,441
2,799
14,240
At 28 February 2023
11,441
2,918
14,359
At 1 March 2022
85
527
612
Charge for the year
3,746
868
4,614
At 28 February 2023
3,831
1,395
5,226
At 28 February 2023
7,610
1,523
9,133
At 28 February 2022
11,356
2,272
13,628
Amounts falling due within one year
Amounts due from group undertakings etc.
685
-
Deferred tax asset
223
223
Accrued income and prepayments
1,500
1,485
Other debtors
10,259
13,091
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
960
960
Amounts owed to group undertakings and other participating interests
-
2,799
Taxes and social security
3,318
3,699
Amounts owed to Group undertakings are unsecured, repayable on demand and do not bear interest.
7
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
3,120
4,080
The £9,600 bank loan is a bounce back loan taken out as contingency funding during the pandemic and will be repaid with interest over the next 9 years starting from June 2021.
The Holistic Hub Nottingham Limited
Notes to the Accounts
for the year ended 28 February 2023
8
Transactions with related parties
The Company has taken advantage of the exemption under FRS 102 section 33 not to provide information on related party transactions with other wholly owned companies in the group.
Included within debtors is a loan of £8,178 (2022: £9,880) due from R Berry, a director of the Company. The loan is unsecured, interest-free and repayable on demand.
No remuneration was paid to the director during the current period or prior year.
The director considers the immediate and ultimate parent company to be RB5 Ltd, a Company incorporated in England and Wales and registered at Unit 1b The Old Knows Factory, St. Anns Hill Road, Nottingham, England, NG3 4GN.
Ricky Berry is the ultimate controlling party.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).