Acorah Software Products - Accounts Production 14.5.601 false true 31 October 2022 1 October 2021 false 1 November 2022 31 October 2023 31 October 2023 08685707 Mr Abdul Bowar Mr Ahmed Hamid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08685707 2022-10-31 08685707 2023-10-31 08685707 2022-11-01 2023-10-31 08685707 frs-core:CurrentFinancialInstruments 2023-10-31 08685707 frs-core:Non-currentFinancialInstruments 2023-10-31 08685707 frs-core:FurnitureFittings 2023-10-31 08685707 frs-core:FurnitureFittings 2022-11-01 2023-10-31 08685707 frs-core:FurnitureFittings 2022-10-31 08685707 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-10-31 08685707 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 08685707 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-10-31 08685707 frs-core:MotorVehicles 2023-10-31 08685707 frs-core:MotorVehicles 2022-11-01 2023-10-31 08685707 frs-core:MotorVehicles 2022-10-31 08685707 frs-core:ShareCapital 2023-10-31 08685707 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 08685707 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08685707 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 08685707 frs-bus:SmallEntities 2022-11-01 2023-10-31 08685707 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08685707 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 08685707 frs-bus:Director1 2022-11-01 2023-10-31 08685707 frs-bus:Director2 2022-11-01 2023-10-31 08685707 frs-core:CurrentFinancialInstruments 1 2023-10-31 08685707 frs-countries:EnglandWales 2022-11-01 2023-10-31 08685707 2021-09-30 08685707 2022-10-31 08685707 2021-10-01 2022-10-31 08685707 frs-core:CurrentFinancialInstruments 2022-10-31 08685707 frs-core:Non-currentFinancialInstruments 2022-10-31 08685707 frs-core:ShareCapital 2022-10-31 08685707 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31 08685707 frs-core:CurrentFinancialInstruments 1 2022-10-31
Registered number: 08685707
Trade Hub (Ldn) Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Taxaudit Accountants Ltd
Chartered Certified Accountants
170 Church Road
Mitcham
CR4 3BW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08685707
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 113,747 38,547
113,747 38,547
CURRENT ASSETS
Stocks 5 387,200 390,000
Debtors 6 13,044 1,302
Cash at bank and in hand 122,762 201,383
523,006 592,685
Creditors: Amounts Falling Due Within One Year 7 (587,239 ) (557,878 )
NET CURRENT ASSETS (LIABILITIES) (64,233 ) 34,807
TOTAL ASSETS LESS CURRENT LIABILITIES 49,514 73,354
Creditors: Amounts Falling Due After More Than One Year 8 (27,215 ) (38,017 )
NET ASSETS 22,299 35,337
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 22,297 35,335
SHAREHOLDERS' FUNDS 22,299 35,337
Page 1
Page 2
For the year ending 31 October 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Abdul Bowar
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Trade Hub (Ldn) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08685707 . The registered office is 170 Church Road, Mitcham, Surrey, CR4 3BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 2)
7 2
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2022 5,513 16,906 111,592 134,011
Additions - 42,500 59,758 102,258
As at 31 October 2023 5,513 59,406 171,350 236,269
Depreciation
As at 1 November 2022 - 3,381 92,083 95,464
Provided during the period - 11,205 15,853 27,058
As at 31 October 2023 - 14,586 107,936 122,522
Net Book Value
As at 31 October 2023 5,513 44,820 63,414 113,747
As at 1 November 2022 5,513 13,525 19,509 38,547
5. Stocks
31 October 2023 31 October 2022
£ £
Finished goods 387,200 390,000
6. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Trade debtors - 1,302
VAT 12,968 -
Net wages 76 -
13,044 1,302
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Page 5
7. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors 156,087 158,530
Corporation tax 4,116 12,104
Other taxes and social security - 22,155
VAT - 13,813
Net wages - 612
Other creditors - 11,434
Pension payable 6,164 5,989
Accruals and deferred income 1,804 1,804
Directors' loan accounts 419,068 331,437
587,239 557,878
8. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Bounce Back Loan 27,215 38,017
9. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 2 2
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