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Registered number: 11536908
Bubble Hub Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors H Dougall
B C Latham
Company Number 11536908
Registered Office The Old Pump House
1a Stonecross, St. Albans
Hertfordshire
AL1 4AA
Accountants Square Mile Accounting Limited
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
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Statement of Financial Position
Registered number: 11536908
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,438,701 1,485,293
1,438,701 1,485,293
CURRENT ASSETS
Debtors 5 10,498 9,881
Cash at bank and in hand 5,370 16,934
15,868 26,815
Creditors: Amounts Falling Due Within One Year 6 (19,707 ) (10,350 )
NET CURRENT ASSETS (LIABILITIES) (3,839 ) 16,465
TOTAL ASSETS LESS CURRENT LIABILITIES 1,434,862 1,501,758
Creditors: Amounts Falling Due After More Than One Year 7 (1,088,284 ) (1,087,795 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (273,354 ) (275,576 )
NET ASSETS 73,224 138,387
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement 73,223 138,386
SHAREHOLDERS' FUNDS 73,224 138,387
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For the year ending 30 June 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
B C Latham
Director
4th March 2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bubble Hub Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11536908 . The registered office is The Old Pump House, 1a Stonecross, St. Albans, Hertfordshire, AL1 4AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors believe that the company is experiencing good levels of sales growth, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date, the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is provided on the following basis:
Freehold Straight line over 50 years
Plant & Machinery Straight line over 50 years
Fixtures & Fittings Straight line over 7 years
Computer Equipment Straight line over 3 years
The assets' residual values, useful lives, and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.
2.5. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.6. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 1,200,000 292,434 137,234 1,099 1,630,767
Additions - 233 - - 233
As at 30 June 2024 1,200,000 292,667 137,234 1,099 1,631,000
Depreciation
As at 1 July 2023 50,257 22,463 72,550 204 145,474
Provided during the period 21,000 5,853 19,605 367 46,825
As at 30 June 2024 71,257 28,316 92,155 571 192,299
Net Book Value
As at 30 June 2024 1,128,743 264,351 45,079 528 1,438,701
As at 1 July 2023 1,149,743 269,971 64,684 895 1,485,293
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 720 720
Prepayments and accrued income 9,778 9,161
10,498 9,881
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,756 2,345
Bank loans and overdrafts 5,169 5,009
VAT 3,357 2,721
Accruals and deferred income 425 275
19,707 10,350
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 2-5 years 5,207 10,342
Other loans 650,000 645,000
Directors loan account 433,077 432,453
1,088,284 1,087,795
The bank loan is a 2.5% bounce back loan.
The directors' loans are unsecured and repayable on demand.
The other loans is a loan received from the spouse of the director, H Dougall, and is disclosed in note 9.
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 0.01 each 1 1
9. Related Party Transactions
The ‘other loans’ balance is a loan received from the spouse of H Dougall in the period ending 2019. Interest is payable on this loan  at a market facing rate of interest.
10. Ultimate Controlling Party
The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.
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