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Company Registration No. 06015460 (England and Wales)
Hub Culture Services Ltd Unaudited accounts for the year ended 31 December 2021
Hub Culture Services Ltd Unaudited accounts Contents
Page
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Hub Culture Services Ltd Company Information for the year ended 31 December 2021
Director
Stan Stalnaker
Company Number
06015460 (England and Wales)
Registered Office
3 Shepherd Street London W1J 7HN United Kingdom
Accountants
Collective Concepts Accounting Ltd
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Hub Culture Services Ltd Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,066 
7,425 
Current assets
Debtors
470,024 
2,318 
Cash at bank and in hand
2,413 
(172)
472,437 
2,146 
Creditors: amounts falling due within one year
(816,309)
(415,743)
Net current liabilities
(343,872)
(413,597)
Total assets less current liabilities
(335,806)
(406,172)
Creditors: amounts falling due after more than one year
(44,916)
(50,000)
Net liabilities
(380,722)
(456,172)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(380,723)
(456,173)
Shareholders' funds
(380,722)
(456,172)
For the year ending 31 December 2021 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 19 September 2024 and were signed on its behalf by
Stan Stalnaker Director Company Registration No. 06015460
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Hub Culture Services Ltd Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Hub Culture Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 06015460. The registered office is 3 Shepherd Street, London, W1J 7HN, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Going concern
The financial statement have been prepared on a going concern basis on the grounds that the Director and the parent company 'Hub Culture Pavilions Ltd' have confirmed they will continue to support the company.
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:
Motor vehicles
25% Reducing balance
Fixtures & fittings
20% Reducing balance
Computer equipment
20% Reducing balance
Foreign exchange
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
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Hub Culture Services Ltd Notes to the Accounts for the year ended 31 December 2021
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2021
8,688 
1,995 
5,421 
16,104 
Additions
- 
- 
2,593 
2,593 
At 31 December 2021
8,688 
1,995 
8,014 
18,697 
Depreciation
At 1 January 2021
5,756 
718 
2,205 
8,679 
Charge for the year
733 
255 
964 
1,952 
At 31 December 2021
6,489 
973 
3,169 
10,631 
Net book value
At 31 December 2021
2,199 
1,022 
4,845 
8,066 
At 31 December 2020
2,932 
1,277 
3,216 
7,425 
5
Debtors
2021 
2020 
£ 
£ 
Amounts falling due within one year
VAT
2,862 
2,318 
Trade debtors
322,671 
- 
Accrued income and prepayments
135,894 
- 
Other debtors
8,597 
- 
470,024 
2,318 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
191,599 
24,128 
Amounts owed to group undertakings and other participating interests
374,171 
386,935 
Accruals
3,407 
4,680 
Deferred income
247,132 
- 
816,309 
415,743 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
44,916 
50,000 
8
Transactions with related parties
The entity owes £324,035 to Hub Culture Limited (Bermuda) an entity under common control. And owes £38,817 to Hub Culture Pavilion UK Limited who is the parent. As of 31 December 2021 the director's loan accounts is overdrawn by £8,597.
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Hub Culture Services Ltd Notes to the Accounts for the year ended 31 December 2021
9
Controlling party
Hub Culture Services Ltd is as subsidiary of Hub Culture Ltd, with 100% share ownership. Hub Culture Ltd is a company based from Bermuda.
10
Average number of employees
During the year the average number of employees was 1 (2020: 1).
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