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REGISTERED NUMBER: 07087610 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 November 2023

for

HUB SOFTWARE ENGINEERING LIMITED

HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HUB SOFTWARE ENGINEERING LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTORS: T P Bridges
P N A Stalley
S Waye





REGISTERED OFFICE: 8 Home Farm Close
Creaton
Northampton
NN6 8NE





REGISTERED NUMBER: 07087610 (England and Wales)





ACCOUNTANTS: Cansdales Business Advisers Limited
St Mary's Court
The Broadway
Old Amersham
Buckinghamshire
HP7 0UT

HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 6,364 2,186

CURRENT ASSETS
Work In Progress - 17,349
Debtors 4 49,114 36,935
Cash at bank 26,017 28,950
75,131 83,234
CREDITORS
Amounts falling due within one year 5 (45,314 ) (33,554 )
NET CURRENT ASSETS 29,817 49,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,181

51,866

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 34,981 50,666
36,181 51,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





T P Bridges - Director


HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

FOREIGN EXCHANGES
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period when they due.

HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

1. ACCOUNTING POLICIES - continued

IMPAIRMENT OF FIXED ASSETS
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

HUB SOFTWARE ENGINEERING LIMITED (Registered number: 07087610)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022 8,381
Additions 7,085
At 30 November 2023 15,466
DEPRECIATION
At 1 December 2022 6,195
Charge for year 2,907
At 30 November 2023 9,102
NET BOOK VALUE
At 30 November 2023 6,364
At 30 November 2022 2,186

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,961 36,412
Tax 2,548 -
Prepayments 605 523
49,114 36,935

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,817 2,299
Pension Control Liability 494 -
Corporation tax - 8,069
Social security and other tax 16,306 5,357
VAT 3,716 717
Credit Card 3,841 -
Directors' current accounts 16,898 15,962
Accrued expenses 1,242 1,150
45,314 33,554