Registered number
11078391
Equipment Hub Ltd
Filleted Accounts
30 June 2024
Equipment Hub Ltd
Registered number: 11078391
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,083 1,583
Tangible assets 4 12,707 14,706
13,790 16,289
Current assets
Stocks - 3,076
Debtors 5 1,561,348 1,052,347
Cash at bank and in hand 15,640 436
1,576,988 1,055,859
Creditors: amounts falling due within one year 6 (1,403,770) (931,496)
Net current assets 173,218 124,363
Total assets less current liabilities 187,008 140,652
Creditors: amounts falling due after more than one year 7 (18,634) (36,784)
Net assets 168,374 103,868
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 166,374 101,868
Shareholder's funds 168,374 103,868
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark Bacon
Director
Approved by the board on 10 September 2024
Equipment Hub Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% straight line
Website and domain 12.5% straight line
Fixtures and fittings 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 4,000
At 30 June 2024 4,000
Amortisation
At 1 July 2023 2,417
Provided during the year 500
At 30 June 2024 2,917
Net book value
At 30 June 2024 1,083
At 30 June 2023 1,583
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 25,436
Additions 2,884
At 30 June 2024 28,320
Depreciation
At 1 July 2023 10,730
Charge for the year 4,883
At 30 June 2024 15,613
Net book value
At 30 June 2024 12,707
At 30 June 2023 14,706
5 Debtors 2024 2023
£ £
Trade debtors 1,560,883 1,043,270
Other debtors 465 9,077
1,561,348 1,052,347
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Obligations under finance lease and hire purchase contracts 7,501 7,501
Trade creditors 1,328,083 787,888
Taxation and social security costs 8,680 30,999
Other creditors 48,858 94,460
1,403,770 931,496
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,084 21,813
Obligations under finance lease and hire purchase contracts 8,550 14,971
18,634 36,784
8 Other information
Equipment Hub Ltd is a private company limited by shares and incorporated in England. Its registered office is:
167-169 Great Portland Street
London
W1W 5PF
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