2 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 28,600 5,099 2,547 7,646 20,954 23,501 64,186 7,243 71,429 22,012 7,073 29,085 42,344 42,174 xbrli:pure xbrli:shares iso4217:GBP 10807555 2022-07-01 2023-06-30 10807555 2023-06-30 10807555 2022-06-30 10807555 2021-07-01 2022-06-30 10807555 2022-06-30 10807555 2021-06-30 10807555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-07-01 2023-06-30 10807555 bus:Director1 2022-07-01 2023-06-30 10807555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 10807555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 10807555 core:WithinOneYear 2023-06-30 10807555 core:WithinOneYear 2022-06-30 10807555 core:ShareCapital 2023-06-30 10807555 core:ShareCapital 2022-06-30 10807555 core:RetainedEarningsAccumulatedLosses 2023-06-30 10807555 core:RetainedEarningsAccumulatedLosses 2022-06-30 10807555 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-06-30 10807555 bus:SmallEntities 2022-07-01 2023-06-30 10807555 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10807555 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 10807555 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10807555 bus:FullAccounts 2022-07-01 2023-06-30 10807555 core:OfficeEquipment 2022-07-01 2023-06-30 10807555 core:OfficeEquipment 2022-06-30 10807555 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 10807555
The Privacy Compliance Hub Limited
Filleted Unaudited Financial Statements
30 June 2023
The Privacy Compliance Hub Limited
Financial Statements
Year ended 30 June 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
The Privacy Compliance Hub Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
20,954
23,501
Tangible assets
6
42,344
42,174
--------
--------
63,298
65,675
Current assets
Debtors
7
7,744
7,337
Cash at bank and in hand
28,052
16,725
--------
--------
35,796
24,062
Creditors: amounts falling due within one year
8
39,134
27,779
--------
--------
Net current liabilities
3,338
3,717
--------
--------
Total assets less current liabilities
59,960
61,958
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
59,959
61,957
--------
--------
Shareholders funds
59,960
61,958
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
The Privacy Compliance Hub Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 7 March 2024 , and are signed on behalf of the board by:
Mr N V Jones
Director
Company registration number: 10807555
The Privacy Compliance Hub Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development Costs
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Development Costs
£
Cost
At 1 July 2022 and 30 June 2023
28,600
--------
Amortisation
At 1 July 2022
5,099
Charge for the year
2,547
--------
At 30 June 2023
7,646
--------
Carrying amount
At 30 June 2023
20,954
--------
At 30 June 2022
23,501
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 July 2022
64,186
64,186
Additions
7,243
7,243
--------
--------
At 30 June 2023
71,429
71,429
--------
--------
Depreciation
At 1 July 2022
22,012
22,012
Charge for the year
7,073
7,073
--------
--------
At 30 June 2023
29,085
29,085
--------
--------
Carrying amount
At 30 June 2023
42,344
42,344
--------
--------
At 30 June 2022
42,174
42,174
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
7,744
7,336
Other debtors
1
-------
-------
7,744
7,337
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,741
1,546
Corporation tax
25,971
17,663
Social security and other taxes
10,422
8,570
--------
--------
39,134
27,779
--------
--------