Company Registration No. NI620228 (Northern Ireland)
HUB Display Ltd
Unaudited accounts
for the year ended 31 August 2024
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
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
HUB Display Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
35,708
38,749
Cash at bank and in hand
48,226
67
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)
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
HUB Display Ltd
Notes to the Accounts
for the year ended 31 August 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
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.
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
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
At 31 August 2024
22,243
13,465
35,708
At 31 August 2023
23,047
15,702
38,749
Amounts falling due within one year
Trade debtors
42,406
59,944
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,566
10,467
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
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,982
7,756
Other creditors
23,605
14,423
HUB Display Ltd
Notes to the Accounts
for the year ended 31 August 2024
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).