Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 3 September 2025 1 January 2024 31 December 2024 31 December 2024 03865295 Mr Paul McNally Mr Marco Goldbach Mr Joachim-Hans Finger false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03865295 2023-12-31 03865295 2024-12-31 03865295 2024-01-01 2024-12-31 03865295 frs-core:CurrentFinancialInstruments 2024-12-31 03865295 frs-core:BetweenOneFiveYears 2024-12-31 03865295 frs-core:ComputerEquipment 2024-12-31 03865295 frs-core:ComputerEquipment 2024-01-01 2024-12-31 03865295 frs-core:ComputerEquipment 2023-12-31 03865295 frs-core:FurnitureFittings 2024-12-31 03865295 frs-core:FurnitureFittings 2024-01-01 2024-12-31 03865295 frs-core:FurnitureFittings 2023-12-31 03865295 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 03865295 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03865295 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 03865295 frs-core:MotorVehicles 2024-12-31 03865295 frs-core:MotorVehicles 2024-01-01 2024-12-31 03865295 frs-core:MotorVehicles 2023-12-31 03865295 frs-core:PlantMachinery 2024-12-31 03865295 frs-core:PlantMachinery 2024-01-01 2024-12-31 03865295 frs-core:PlantMachinery 2023-12-31 03865295 frs-core:WithinOneYear 2024-12-31 03865295 frs-core:ShareCapital 2024-12-31 03865295 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 03865295 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03865295 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 03865295 frs-bus:SmallEntities 2024-01-01 2024-12-31 03865295 frs-bus:Audited 2024-01-01 2024-12-31 03865295 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03865295 1 2024-01-01 2024-12-31 03865295 frs-bus:Director1 2024-01-01 2024-12-31 03865295 frs-bus:Director2 2024-01-01 2024-12-31 03865295 frs-bus:Director3 2024-01-01 2024-12-31 03865295 frs-countries:EnglandWales 2024-01-01 2024-12-31 03865295 2022-12-31 03865295 2023-12-31 03865295 2023-01-01 2023-12-31 03865295 frs-core:CurrentFinancialInstruments 2023-12-31 03865295 frs-core:BetweenOneFiveYears 2023-12-31 03865295 frs-core:WithinOneYear 2023-12-31 03865295 frs-core:ShareCapital 2023-12-31 03865295 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 03865295
Hubtex (UK) Ltd
Financial Statements
For The Year Ended 31 December 2024
striveX Ltd
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: 03865295
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,052,019 918,482
1,052,019 918,482
CURRENT ASSETS
Stocks 466,757 438,205
Debtors 5 2,847,334 397,816
Cash at bank and in hand 529,468 636,963
3,843,559 1,472,984
Creditors: Amounts Falling Due Within One Year 6 (2,639,688 ) (390,662 )
NET CURRENT ASSETS (LIABILITIES) 1,203,871 1,082,322
TOTAL ASSETS LESS CURRENT LIABILITIES 2,255,890 2,000,804
PROVISIONS FOR LIABILITIES
Deferred Taxation (260,932 ) (172,832 )
NET ASSETS 1,994,958 1,827,972
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Income Statement 1,984,958 1,817,972
SHAREHOLDERS' FUNDS 1,994,958 1,827,972
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
Mr Paul McNally
Director
20/08/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Hubtex (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03865295 . The registered office is 5 Midbrook Court, Blakelands, Milton Keynes, Buckinghamshire, MK14 5FH.
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.
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.
Presentational currency
The accounts are presented in £ Sterling.
2.2. Going Concern Disclosure
The director is required to prepare these financial statements on a going concern basis unless it is inappropriate to presume the company will continue in business. In satisfaction of this responsibility, the director has considered the company’s ability to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements.
The director did not identify any uncertainty that cast significant doubt about the ability of the company to continue as a going concern.
The group has confirmed that they will support this company for a period of at least a year from signing these financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
2.4. Turnover
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Over the period of the lease
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.6. 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.
2.7. Stocks and Work in Progress
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Page 3
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. 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.
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.
2.10. Pensions
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.
2.11. Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 12)
15 12
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 January 2024 7,794 1,310,892 106,354 90,970
Additions - 253,670 95,530 2,545
Disposals - (12,257 ) - -
As at 31 December 2024 7,794 1,552,305 201,884 93,515
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2024 7,794 479,526 45,836 77,513
Provided during the period - 165,783 36,378 3,895
Disposals - (1,231 ) - -
As at 31 December 2024 7,794 644,078 82,214 81,408
Net Book Value
As at 31 December 2024 - 908,227 119,670 12,107
As at 1 January 2024 - 831,366 60,518 13,457
Computer Equipment Total
£ £
Cost
As at 1 January 2024 29,986 1,545,996
Additions 2,560 354,305
Disposals - (12,257 )
As at 31 December 2024 32,546 1,888,044
Depreciation
As at 1 January 2024 16,845 627,514
Provided during the period 3,686 209,742
Disposals - (1,231 )
As at 31 December 2024 20,531 836,025
Net Book Value
As at 31 December 2024 12,015 1,052,019
As at 1 January 2024 13,141 918,482
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,592,089 378,713
Prepayments and accrued income 255,245 19,103
2,847,334 397,816
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,841,161 111,347
Other taxes and social security 144,010 52,483
VAT 505,709 183,895
Accruals and deferred income 148,808 42,937
2,639,688 390,662
Page 4
Page 5
7. Other Commitments
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
2024 2023
£ £
Not later than one year 55,562 32,874
Later than one year and not later than five years 55,799 7,452
111,361 40,326
8. Controlling Party
The company was under the control of Hubtex Maschinenbau GmbH & Co. KG during the year.
Hubtex Maschinenbau GmbH & Co. KG is a wholly owned subsidiary of Hubtex Holding GmbH which is the ultimate controlling entity. Hubtex Holding GmbH is a company incorporated in Germany, a copy of the financial statements are available at:
Hubtex Maschinenbau GmbH & Co. KG
INDUSTRIEPARK west
Werner-von-Siemens-Straße. 8
36041 Fulda
Germany
9. Audit Information
The auditor's report on the accounts of Hubtex (UK) Ltd for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Amy Claire Hancock (Senior Statutory Auditor) for and on behalf of Hancock and Hastings Limited , Statutory Auditor.
Hancock and Hastings Limited
Office 2, Ashton Square Business Centre
22 Ashton Square
Bedfordshire
LU6 3SN
Page 5