Company registration number 12877241 (England and Wales)
TX HUB LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TX HUB LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TX HUB LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110
3,374
Current assets
Debtors
4
617
2,489
Cash at bank and in hand
7,210
12,534
7,827
15,023
Creditors: amounts falling due within one year
5
(82,363)
(60,233)
Net current liabilities
(74,536)
(45,210)
Net liabilities
(74,426)
(41,836)
Capital and reserves
Called up share capital
-
0
-
0
Profit and loss reserves
(74,426)
(41,836)
Total equity
(74,426)
(41,836)

For the financial year ended 31 December 2023 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 13 February 2025
Mrs U Pattani
Director
Company registration number 12877241 (England and Wales)
TX HUB LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

TX Hub Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 11, Meridian Business Park, Fleming Road, Waltham Abbey, EN9 3BZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received for food and beverages provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line basis
Fixtures and fittings
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TX HUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
4
TX HUB LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
16,078
Depreciation and impairment
At 1 January 2023
12,704
Depreciation charged in the year
3,264
At 31 December 2023
15,968
Carrying amount
At 31 December 2023
110
At 31 December 2022
3,374
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
2,089
Other debtors
617
400
617
2,489
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
82
3,644
Taxation and social security
2,264
6,424
Other creditors
80,017
50,165
82,363
60,233
6
Related party transactions

As at the balance sheet date, the company owed £47,000 (2022: £nil) and £26,740 (2022: £44,000) to companies in which they have common directors.

2023-12-312023-01-01falsefalsefalse14 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMrs U Pattani128772412023-01-012023-12-31128772412023-12-31128772412022-12-3112877241core:OtherPropertyPlantEquipment2023-12-3112877241core:OtherPropertyPlantEquipment2022-12-3112877241core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3112877241core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3112877241core:CurrentFinancialInstruments2023-12-3112877241core:CurrentFinancialInstruments2022-12-3112877241core:ShareCapital2023-12-3112877241core:ShareCapital2022-12-3112877241core:RetainedEarningsAccumulatedLosses2023-12-3112877241core:RetainedEarningsAccumulatedLosses2022-12-3112877241bus:Director12023-01-012023-12-3112877241core:PlantMachinery2023-01-012023-12-3112877241core:FurnitureFittings2023-01-012023-12-31128772412022-01-012022-12-3112877241core:OtherPropertyPlantEquipment2022-12-3112877241core:OtherPropertyPlantEquipment2023-01-012023-12-3112877241core:WithinOneYear2023-12-3112877241core:WithinOneYear2022-12-3112877241bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112877241bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112877241bus:FRS1022023-01-012023-12-3112877241bus:AuditExemptWithAccountantsReport2023-01-012023-12-3112877241bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP