Company registration number 07814502 (England and Wales)
HUUB LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HUUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HUUB LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
31 December 2022
Notes
£
£
Fixed assets
Intangible assets
3
4,952
10,731
Tangible assets
4
53,838
90,048
58,790
100,779
Current assets
Stocks
1,627,593
2,875,121
Debtors
5
1,578,620
894,574
Cash at bank and in hand
83,359
85,532
3,289,572
3,855,227
Creditors: amounts falling due within one year
6
(2,485,359)
(2,474,044)
Net current assets
804,213
1,381,183
Total assets less current liabilities
863,003
1,481,962
Creditors: amounts falling due after more than one year
7
(724,047)
(926,547)
Net assets
138,956
555,415
Capital and reserves
Called up share capital
10,000
10,000
Share premium account
121,300
121,300
Profit and loss reserves
7,656
424,115
Total equity
138,956
555,415
HUUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

For the financial period ended 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 of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr D Lamb
Director
Company registration number 07814502 (England and Wales)
HUUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Huub Limited is a private company limited by shares incorporated in England and Wales. The registered office is Park Bikeworks, 34 Full Street, Derby, DE1 3AF. The company registration number is 07814502.

1.1
Reporting period

The accounting period has been extended from 12 months to 18 months and now covers the period 1st January 2023 to 30th June 2024. Die to this the comparative amounts presented in the financial statements ( including the related notes) are not entirely comparable.

1.2
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. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 

Turnover is recognised when goods and services are provided.

1.4
Intangible fixed assets other than goodwill

Amortisation 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:

Development costs
20% on cost
1.5
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:

Leasehold land and buildings
50% on cost
Plant and equipment
20% on cost
Fixtures and fittings
33% on cost
Computers
33% on cost

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.

HUUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.7
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.

1.8
Financial instruments
Basic financial liabilities

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Retirement benefits

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

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

HUUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 5 -
2
Employees

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

2024
2022
Number
Number
Total
20
27
3
Intangible fixed assets
Other
Cost
At 1 January 2023
20,787
Additions
3,208
At 30 June 2024
23,995
Amortisation and impairment
At 1 January 2023
10,056
Amortisation charged for the period
8,987
At 30 June 2024
19,043
Carrying amount
At 30 June 2024
4,952
At 31 December 2022
10,731
HUUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
Cost
At 1 January 2023
29,128
304,709
333,837
Additions
5,212
31,526
36,738
At 30 June 2024
34,340
336,235
370,575
Depreciation and impairment
At 1 January 2023
25,648
218,141
243,789
Depreciation charged in the period
2,756
70,192
72,948
At 30 June 2024
28,404
288,333
316,737
Carrying amount
At 30 June 2024
5,936
47,902
53,838
At 31 December 2022
3,480
86,568
90,048
5
Debtors
2024
2022
Amounts falling due within one year:
Trade debtors
1,283,847
854,507
Amounts owed by group undertakings
199,070
-
0
Other debtors
95,703
40,067
1,578,620
894,574
6
Creditors: amounts falling due within one year
2024
2022
Bank loans
1,295,067
1,340,882
Trade creditors
309,737
226,669
Amounts owed to group undertakings
447,728
447,718
Corporation tax
-
0
9,496
Other taxation and social security
183,901
148,963
Other creditors
248,926
300,316
2,485,359
2,474,044
HUUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2022
Bank loans and overdrafts
724,047
926,547
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