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HUGGABUBBA LTD

Registered Number
05998516
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

HUGGABUBBA LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

POWER, Sacha
POWER, Shane Richard

Company Secretary

POWER, Sacha

Registered Address

Evolution House Iceni Court
Delft Way
Norwich
NR6 6BB

Registered Number

05998516 (England and Wales)
HUGGABUBBA LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-661
Tangible assets477102
77763
Current assets
Stocks89,25490,060
Debtors521,31828,105
Cash at bank and on hand10,64321,083
121,215139,248
Creditors amounts falling due within one year6(109,421)(125,650)
Net current assets (liabilities)11,79413,598
Total assets less current liabilities11,87114,361
Creditors amounts falling due after one year7(15,001)(25,000)
Net assets(3,130)(10,639)
Capital and reserves
Profit and loss account(3,130)(10,639)
Shareholders' funds(3,130)(10,639)
The financial statements were approved and authorised for issue by the Board of Directors on 12 May 2025, and are signed on its behalf by:
POWER, Sacha
Director
POWER, Shane Richard
Director

Registered Company No. 05998516
HUGGABUBBA LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. 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: Patents & licences - Being amortised evenly over their estimated useful life of four years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Vehicles25-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 2333,65233,652
At 30 November 2433,65233,652
Amortisation and impairment
At 01 December 2332,99132,991
Charge for year661661
At 30 November 2433,65233,652
Net book value
At 30 November 24--
At 30 November 23661661
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 December 235921,3761,968
At 30 November 245921,3761,968
Depreciation and impairment
At 01 December 234901,3761,866
Charge for year25-25
At 30 November 245151,3761,891
Net book value
At 30 November 2477-77
At 30 November 23102-102
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables7,90019,412
Other debtors13,0828,595
Prepayments and accrued income33698
Total21,31828,105
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables18,50315,625
Bank borrowings and overdrafts4,82420,481
Taxation and social security3,5965,862
Other creditors82,49883,682
Total109,421125,650
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts15,00125,000
Total15,00125,000
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
POWER, Sacha8,5963,907012,503
8,5963,907012,503
During the year, interest of £88 was charged on the loan. The director's loan was repaid on 2 May 2025.
9.Controlling party
By way of the equal shareholdings Mr S Power and Mrs S Power share ultimate control of the company between them.