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Registered number: 12420763
Hub E-Com Logistics Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12420763
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,991 957
17,991 957
CURRENT ASSETS
Debtors 5 1,704,414 697,285
Cash at bank and in hand 486,420 396,393
2,190,834 1,093,678
Creditors: Amounts Falling Due Within One Year 6 (1,618,280 ) (854,277 )
NET CURRENT ASSETS (LIABILITIES) 572,554 239,401
TOTAL ASSETS LESS CURRENT LIABILITIES 590,545 240,358
NET ASSETS 590,545 240,358
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 590,445 240,258
SHAREHOLDERS' FUNDS 590,545 240,358
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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 Terence Branch
Director
31/10/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hub E-Com Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12420763 . The registered office is 159a High Street, Hampton Hill, Hampton, TW12 1NL.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
The company recognises turnover when the amount can be reliably measured and it is probable that the future economic benefits will flow to the company. The freight income is obtained through purchase of transportation services from direct in carriers and resale of services to its customers at a mark up. Freight income is recognised in the period in which the services are provided.
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:
Plant & Machinery 20% on Cost
Computer Equipment 25% on Cost
2.4. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
2.6. Presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 4)
10 4
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 - 1,913 1,913
Additions 20,413 - 20,413
As at 31 January 2024 20,413 1,913 22,326
Depreciation
As at 1 February 2023 - 956 956
Provided during the period 2,901 478 3,379
As at 31 January 2024 2,901 1,434 4,335
Net Book Value
As at 31 January 2024 17,512 479 17,991
As at 1 February 2023 - 957 957
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 881,282 296,570
Other debtors 823,132 400,715
1,704,414 697,285
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 521,949 456,979
Other creditors 974,503 366,439
Taxation and social security 121,828 30,859
1,618,280 854,277
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
At 31 January 2024, the company owed £22,195 (2023: £22,195) to Diligence Logistic Solutions Limited, a company controlled by a close family member of the director. 
Included in other debtors is an amount of £139,286 (2023: £87,324) owed by Dragon Link Investments Limited, a company in which the director is both a shareholder and a director.
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