Company registration number 13891390 (England and Wales)
WOLF HUB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD OF 3RD FEBRUARY 2022 TO 28TH FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
WOLF HUB LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
WOLF HUB LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
Notes
£
£
Current assets
Stocks
61,706
Debtors
3
170
Cash at bank and in hand
22,003
83,879
Creditors: amounts falling due within one year
4
(38,056)
Net current assets
45,823
Capital and reserves
Called up share capital
1
Profit and loss reserves
45,822
Total equity
45,823
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 31 October 2023
Mr A Kutner
Director
Company registration number 13891390 (England and Wales)
WOLF HUB LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 3 February 2022
-
Period ended 28 February 2023:
Profit and total comprehensive income
-
45,822
45,822
Issue of share capital
1
-
1
Balance at 28 February 2023
1
45,822
45,823
WOLF HUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information
Wolf Hub Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 180 Great Portland Street, London, W1W 5QZ.
1.1
Accounting convention
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover represents amounts receivable for selling watches and commissioning car sales.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Financial instruments
The company has only basic financial instruments.
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.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
WOLF HUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2023
Number
Total
1
3
Debtors
2023
Amounts falling due within one year:
£
Other debtors
170
4
Creditors: amounts falling due within one year
2023
£
Corporation tax
11,158
Other taxation and social security
871
Other creditors
26,027
38,056