Company Registration No. 12558267 (England and Wales)
Tubr Ltd
Unaudited accounts
for the year ended 31 December 2024
Tubr Ltd
Company Information
for the year ended 31 December 2024
Directors
Evan-Alison Tabor
Peter John Hopton
Company Number
12558267 (England and Wales)
Registered Office
Sheffield Technology Parks
Cooper Buildings
Sheffield Science Park, Arundel Street
Sheffield
South Yorkshire
S1 2NS
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Tubr Ltd
Statement of financial position
as at 31 December 2024
Intangible assets
1,200
1,200
Tangible assets
2,909
2,646
Cash at bank and in hand
139,290
216,214
Creditors: amounts falling due within one year
(698,997)
(254,053)
Net current liabilities
(544,468)
(9,345)
Net liabilities
(540,359)
(5,499)
Called up share capital
18,891
17,366
Share premium
340,774
108,799
Capital contribution reserve
25,000
345,000
Profit and loss account
(925,024)
(476,664)
Shareholders' funds
(540,359)
(5,499)
For the year ending 31 December 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 27 February 2025 and were signed on its behalf by
Evan-Alison Tabor
Director
Company Registration No. 12558267
Tubr Ltd
Notes to the Accounts
for the year ended 31 December 2024
Tubr Ltd is a private company, limited by shares, registered in England and Wales, registration number 12558267. The registered office is Sheffield Technology Parks, Cooper Buildings, Sheffield Science Park, Arundel Street, Sheffield, South Yorkshire, S1 2NS, England.
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.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
4 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Intangible fixed assets have been given an effective life of 4 years, over which they are depreciated on a straight line basis.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Expenditure on research and development is written off in the year in which it is incurred.
Tubr Ltd
Notes to the Accounts
for the year ended 31 December 2024
Research and development tax credit
During the financial year, Tubr Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
During the year, it was noted that share capital was incorrect and that interest had not been accrued on the convertible loans, requiring the following adjustments in the prior year:
- Profit and loss increased by £10,178 to a loss of £235,356.
- Share capital decreased by £108,799 to £17,366.
- Share premium increased by £108,799 to £108,799.
- Other creditors increased by £10,178 to £180,178.
- Retained loss increased by £10,178 to £476,664.
4
Intangible fixed assets
Other
Tubr Ltd
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
51,565
17,711
Taxes and social security
-
(364)
Other creditors
591,831
180,178
Loans from directors
55,601
56,528
Other creditors includes convertible loans of £550,000 and interest of £40,654. All the loans mature by 2025 and accrue interest at a rate of 8%.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
56,527
2,143
3,070
55,600
56,527
2,143
3,070
55,600
Directors' loans are interest-free and repayable on demand.
Tubr Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 6 (2023: 2).