Company Registration No. 11685946 (England and Wales)
HR Data Hub Ltd
Unaudited accounts
for the year ended 30 November 2023
HR Data Hub Ltd
Company Information
for the year ended 30 November 2023
Directors
Christopher Bruce
David Whitfield
Oliver Black
Alexandra Grellet
Mercia Fund Management (Nominees) Limited
Company Number
11685946 (England and Wales)
Registered Office
Office 1, Izabella House
24-26 Regent Place
Birmingham
B1 3NJ
England
Accountants
Jameson Accounting Services
87 Hillesden Avenue
Elstow
Bedford
Bedfordshire
MK42 9AJ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of HR Data Hub Ltd for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
HR Data Hub Ltd for the year ended
30 November 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of HR Data Hub Ltd, as a body, in accordance with the terms of our engagement letter dated 6 August 2020. Our work has been undertaken solely to prepare for your approval the accounts of HR Data Hub Ltd and state those matters that we have agreed to state to the Board of Directors of HR Data Hub Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HR Data Hub Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that HR Data Hub Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of HR Data Hub Ltd. You consider that HR Data Hub Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of HR Data Hub Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Jameson Accounting Services
Chartered Accountants
87 Hillesden Avenue
Elstow
Bedford
Bedfordshire
MK42 9AJ
8 February 2024
HR Data Hub Ltd
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
237,551
68,041
Creditors: amounts falling due within one year
(651,233)
(608,183)
Net current liabilities
(149,440)
(366,113)
Net liabilities
(148,679)
(364,374)
Called up share capital
27,192
20,450
Share premium
2,673,688
1,268,572
Profit and loss account
(2,849,559)
(1,653,396)
Shareholders' funds
(148,679)
(364,374)
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
David Whitfield
Director
Company Registration No. 11685946
HR Data Hub Ltd
Notes to the Accounts
for the year ended 30 November 2023
HR Data Hub Ltd is a private company, limited by shares, registered in England and Wales, registration number 11685946. The registered office is Office 1, Izabella House, 24-26 Regent Place, Birmingham, B1 3NJ, 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment - 4 years
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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 company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
HR Data Hub Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
216,600
135,500
Accrued income and prepayments
38,176
37,958
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
88,165
125,656
Taxes and social security
161,557
48,646
Other creditors
24,109
149,609
Deferred income
319,141
230,441
Allotted, called up and fully paid:
158,138 Ordinary 'A' shares of £0.10 each
15,813.80
15,813.80
19,707 Ordinary 'B' shares of £0.10 each
1,970.70
1,970.70
67,424 Ordinary 'C' shares of £0.10 each
6,742.40
-
26,648 Deferred shares of £0.10 each
2,664.80
2,664.80
Shares issued during the period:
67,424 Ordinary 'C' shares of £0.10 each
6,742
HR Data Hub Ltd
Notes to the Accounts
for the year ended 30 November 2023
8
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,711
6,801
Later than one year and not later than five years
29,083
10,408
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
-
4,449
-
4,449
10
Transactions with related parties
During the year the company had the following related party transactions:
With Flying Tiger LLP, an entity controlled by Christopher Bruce (a Director), the company incurred advisory fees of £33,333 (2022: £17,083).
With Oliver Black (a Director), the company incurred consultancy fees of £13,333 (2022: £4,167).
With Mercia Fund Management Ltd and Enterprise Ventures Ltd, entities connected with Mercia Fund Management (Nominees) Limited (a Director), the company incurred fees of £46,149 (2022: £nil).
During the year, Directors and parties connected with them, invested in the share capital of the company a total of £1,074,955 (2022: £100,188).
11
Average number of employees
During the year the average number of employees was 14 (2022: 7).