Company Registration No. 12785870 (England and Wales)
The Hub Group (Management) Ltd
Unaudited accounts
for the year ended 31 August 2023
The Hub Group (Management) Ltd
Statement of financial position
as at 31 August 2023
Investment property
140,000
140,000
Cash at bank and in hand
1,122
412
Creditors: amounts falling due within one year
(138,715)
(129,592)
Net current liabilities
(137,593)
(129,180)
Total assets less current liabilities
2,407
10,820
Provisions for liabilities
Deferred tax
(2,700)
(2,700)
Net (liabilities)/assets
(293)
8,120
Called up share capital
100
100
Revaluation reserve
19,331
19,331
Profit and loss account
(19,724)
(11,311)
Shareholders' funds
(293)
8,120
For the year ending 31 August 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 20 August 2024 and were signed on its behalf by
Christopher Toumazou
Director
Company Registration No. 12785870
The Hub Group (Management) Ltd
Notes to the Accounts
for the year ended 31 August 2023
The Hub Group (Management) Ltd is a private company, limited by shares, registered in England and Wales, registration number 12785870. The registered office is Sopers House, Sopers Road, Cuffley, EN6 4RY, United Kingdom.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Fair value at 1 September 2022
140,000
In the opinion of the director, the investment property is valued in the financial statements at its open market value as at 31 August 2023.
The Hub Group (Management) Ltd
Notes to the Accounts
for the year ended 31 August 2023
5
Creditors: amounts falling due within one year
2023
2022
Other creditors
132,455
123,000
Loans from directors
5,960
5,493
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).