1 1 Huge Rugby Ltd NI620060 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the online retail of sports clothing and accessories Digita Accounts Production Advanced 6.30.9574.0 true NI620060 2023-02-01 2024-01-31 NI620060 2024-01-31 NI620060 bus:OrdinaryShareClass1 2024-01-31 NI620060 core:CurrentFinancialInstruments 2024-01-31 NI620060 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 NI620060 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 NI620060 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 NI620060 core:OtherPropertyPlantEquipment 2024-01-31 NI620060 bus:SmallEntities 2023-02-01 2024-01-31 NI620060 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 NI620060 bus:FilletedAccounts 2023-02-01 2024-01-31 NI620060 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI620060 bus:RegisteredOffice 2023-02-01 2024-01-31 NI620060 bus:Director2 2023-02-01 2024-01-31 NI620060 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 NI620060 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI620060 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 NI620060 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 NI620060 core:ToolsEquipment 2023-02-01 2024-01-31 NI620060 countries:NorthernIreland 2023-02-01 2024-01-31 NI620060 2023-01-31 NI620060 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 NI620060 core:OtherPropertyPlantEquipment 2023-01-31 NI620060 2022-02-01 2023-01-31 NI620060 2023-01-31 NI620060 bus:OrdinaryShareClass1 2023-01-31 NI620060 core:CurrentFinancialInstruments 2023-01-31 NI620060 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 NI620060 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 NI620060 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 NI620060 core:OtherPropertyPlantEquipment 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI620060

Huge Rugby Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Huge Rugby Ltd

(Registration number: NI620060)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

2,600

Tangible assets

6

1,196

2,283

 

1,196

4,883

Current assets

 

Debtors

7

528

1,579

Cash at bank and in hand

 

12,254

13,746

 

12,782

15,325

Creditors: Amounts falling due within one year

8

(66,873)

(77,684)

Net current liabilities

 

(54,091)

(62,359)

Total assets less current liabilities

 

(52,895)

(57,476)

Creditors: Amounts falling due after more than one year

8

(583)

(971)

Net liabilities

 

(53,478)

(58,447)

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

(53,479)

(58,448)

Shareholders' deficit

 

(53,478)

(58,447)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Huge Rugby Ltd

(Registration number: NI620060)
Balance Sheet as at 31 January 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2025
 

.........................................
Mr Jonathan Small
Director

 

Huge Rugby Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 20 Church Street, Ballymena, BT43 6DE.

These financial statements were authorised for issue by the director on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Grants

Grants that relate to specific capital expenditure are treated as deferred income and credited to the profit and loss account over the related asset's useful life.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Huge Rugby Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line basis

Development costs

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development costs

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Basis of preparing the financial statements

The Company’s total liabilities are more than the book value of the assets. Nevertheless, the Director considers it appropriate to prepare the financial statements on a going concern basis. The Company has returned to profitability and continues to meet its working capital commitments through credit provided by two suppliers, which will continue to be available for the foreseeable future.

 

Huge Rugby Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

5

Intangible assets

Website development costs
 £

Total
£

Cost or valuation

At 1 February 2023

13,000

13,000

At 31 January 2024

13,000

13,000

Amortisation

At 1 February 2023

10,400

10,400

Amortisation charge

2,600

2,600

At 31 January 2024

13,000

13,000

Carrying amount

At 31 January 2024

-

-

At 31 January 2023

2,600

2,600

 

Huge Rugby Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Tangible assets

Equipment
£

Total
£

Cost or valuation

At 1 February 2023

17,351

17,351

At 31 January 2024

17,351

17,351

Depreciation

At 1 February 2023

15,068

15,068

Charge for the year

1,087

1,087

At 31 January 2024

16,155

16,155

Carrying amount

At 31 January 2024

1,196

1,196

At 31 January 2023

2,283

2,283

7

Debtors

2024
£

2023
£

Other debtors

528

417

Prepayments

-

1,162

528

1,579

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

55,015

55,893

Other creditors, accruals and deferred income

11,858

21,791

66,873

77,684

Due after one year

Deferred income

583

971

 

Huge Rugby Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1