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Company Registration No. NI620228 (Northern Ireland)
HUB Display Ltd Unaudited accounts for the year ended 31 August 2024
HUB Display Ltd Unaudited accounts Contents
Page
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HUB Display Ltd Company Information for the year ended 31 August 2024
Directors
Mrs Sheila Millar Mr Nigel Millar
Company Number
NI620228 (Northern Ireland)
Registered Office
2A Mill Street Hilden Lisburn Antrim BT27 4RP Northern Ireland
Accountants
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD
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HUB Display Ltd Accountants' report
Accountants' report to the board of directors of HUB Display Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HUB Display Ltd for the year ended 31 August 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of HUB Display Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of HUB Display Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HUB Display Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that HUB Display Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of HUB Display Ltd. You consider that HUB Display Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of HUB Display Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
W F Lemon & Co Ltd 76 Main Street Lisnaskea Co Fermanagh BT92 0JD 31 October 2024
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HUB Display Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,708 
38,749 
Current assets
Inventories
3,200 
25,950 
Debtors
46,830 
59,944 
Cash at bank and in hand
48,226 
67 
98,256 
85,961 
Creditors: amounts falling due within one year
(75,745)
(75,762)
Net current assets
22,511 
10,199 
Total assets less current liabilities
58,219 
48,948 
Creditors: amounts falling due after more than one year
(35,235)
(40,884)
Provisions for liabilities
Deferred tax
(2,177)
(2,317)
Net assets
20,807 
5,747 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
20,806 
5,746 
Shareholders' funds
20,807 
5,747 
For the year ending 31 August 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by
Mrs Sheila Millar Director Company Registration No. NI620228
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HUB Display Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
HUB Display Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI620228. The registered office is 2A Mill Street, Hilden, Lisburn, Antrim, BT27 4RP, Northern Ireland.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
Motor vehicles
20% Reducing Balance
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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HUB Display Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
55,929 
43,980 
99,909 
Additions
1,500 
2,900 
4,400 
Disposals
- 
(12,500)
(12,500)
At 31 August 2024
57,429 
34,380 
91,809 
Depreciation
At 1 September 2023
32,882 
28,278 
61,160 
Charge for the year
2,304 
2,822 
5,126 
On disposals
- 
(10,185)
(10,185)
At 31 August 2024
35,186 
20,915 
56,101 
Net book value
At 31 August 2024
22,243 
13,465 
35,708 
At 31 August 2023
23,047 
15,702 
38,749 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
4,424 
- 
Trade debtors
42,406 
59,944 
46,830 
59,944 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,566 
10,467 
VAT
- 
923 
Obligations under finance leases and hire purchase contracts
4,775 
4,775 
Trade creditors
44,799 
36,766 
Taxes and social security
3,387 
3,008 
Accruals
13,218 
19,823 
75,745 
75,762 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
8,648 
18,705 
Obligations under finance leases and hire purchase contracts
2,982 
7,756 
Other creditors
23,605 
14,423 
35,235 
40,884 
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HUB Display Ltd Notes to the Accounts for the year ended 31 August 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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