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Registration number: 11492158

Forgehub Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2024

 

Forgehub Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Forgehub Ltd

Company Information

Director

Mr D P Williams

Registered office

Tramshed Tech
Pendyris Street
Cardiff
CF11 6BH

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Forgehub Ltd

(Registration number: 11492158)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,138

6,905

Tangible assets

5

2,327

3,490

 

8,465

10,395

Current assets

 

Cash at bank and in hand

 

352

31,996

Creditors: Amounts falling due within one year

(7,456)

(14,852)

Net current (liabilities)/assets

 

(7,104)

17,144

Total assets less current liabilities

 

1,361

27,539

Accruals and deferred income

 

(1,104)

(1,080)

Net assets

 

257

26,459

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

256

26,458

Shareholders' funds

 

257

26,459

 

Forgehub Ltd

(Registration number: 11492158)
Abridged Balance Sheet as at 31 July 2024

For the financial year ending 31 July 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been 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 26 March 2025
 

.........................................

Mr D P Williams
Director

 

Forgehub Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
Tramshed Tech
Pendyris Street
Cardiff
CF11 6BH

These financial statements were authorised for issue by the director on 26 March 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 abridged 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 abridged 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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Forgehub Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 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

Office equipment

25% straight line

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 and Domain

10% straight line

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Forgehub Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Forgehub Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 August 2023

7,672

At 31 July 2024

7,672

Amortisation

At 1 August 2023

767

Amortisation charge

767

At 31 July 2024

1,534

Carrying amount

At 31 July 2024

6,138

At 31 July 2023

6,905

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

4,653

4,653

At 31 July 2024

4,653

4,653

Depreciation

At 1 August 2023

1,163

1,163

Charge for the year

1,163

1,163

At 31 July 2024

2,326

2,326

Carrying amount

At 31 July 2024

2,327

2,327

At 31 July 2023

3,490

3,490

 

Forgehub Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

7

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £37,850.00 (2023 - £36,800.00) per each Ordinary share

37,850

36,800

 

 

8

Related party transactions

Key management personnel

Relationship : Director

Summary of transactions with key management

During the year, the director made an unsecured interest free repayable on demand loan to the company, At the balance sheet date the amount due to the director was £31 (2023:£111)