Brokerhub Limited
Registered number: 04485972
Statement of Financial Position
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,398 6,542
Current assets
Debtors 4 94,850 109,064
Cash at bank and in hand 260,344 838,407
355,194 947,471
Creditors: amounts falling due within one year 5 (170,771) (636,639)
Net current assets 184,423 310,832
Total assets less current liabilities 190,821 317,374
Provisions for liabilities (1,216) -
Net assets 189,605 317,374
Capital and reserves
Called up share capital 244,599 244,599
Share premium 1,000 71,842
Profit and loss account (55,994) 933
Shareholders' funds 189,605 317,374
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 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.
Mr J Flaquieres
Director
Approved by the board on 27 January 2025
Brokerhub Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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.
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:
Plant and machinery 25% reducing balance
Software over 2 years
Debtors
Short term debtors are measured at transaction 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. 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.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc Software Total
£ £ £
Cost
At 1 August 2023 45,692 26,261 71,953
Additions 1,989 - 1,989
At 31 July 2024 47,681 26,261 73,942
Depreciation
At 1 August 2023 39,150 26,261 65,411
Charge for the year 2,133 - 2,133
At 31 July 2024 41,283 26,261 67,544
Net book value
At 31 July 2024 6,398 - 6,398
At 31 July 2023 6,542 - 6,542
4 Debtors 2024 2023
£ £
Trade debtors 90,306 101,048
Prepayments 3,207 4,174
Other debtors 1,337 3,842
94,850 109,064
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,974 10,758
Accruals 159,135 160,669
Other taxes and social security costs 2,662 3,419
Other creditors - 461,793
170,771 636,639
6 Controlling party
The parent company is Vectalis SARL with registerd office: Spaces Bonne Nouvelle, 17-21 rue Saint Fiacre, 75002 Paris.
7 Other information
Brokerhub Limited is a private company limited by shares and incorporated in England. Its registered office is:
40 Gracechurch Street
London
EC3V 0BT
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