REGISTERED NUMBER: 10489863 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HUB4PARTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Hubble

Mrs M K Hubble

SECRETARY:

Mrs M K Hubble

REGISTERED OFFICE:

5 Walton Road

Marshland St James

Wisbech

Cambridgeshire

PE14 8DP

REGISTERED NUMBER:

10489863 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Tangible assets

4

18,320

16,823

CURRENT ASSETS

Stocks

26,942

34,193

Debtors

5

119,518

98,607

Cash at bank

24,407

70,953

170,867

203,753

CREDITORS

Amounts falling due within one year

6

116,804

105,955

NET CURRENT ASSETS

54,063

97,798

TOTAL ASSETS LESS CURRENT LIABILITIES

72,383

114,621

CREDITORS

Amounts falling due after more than one year

7

(4,383

)

(14,735

)

PROVISIONS FOR LIABILITIES

(3,200

)

(3,500

)

NET ASSETS

64,800

96,386

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

64,700

96,286

SHAREHOLDERS' FUNDS

64,800

96,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2025 and were signed on its behalf by:

A J Hubble - Director

1.	STATUTORY INFORMATION

Hub4parts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over term of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

5,275

18,238

7,123

Additions

-

1,774

4,469

Disposals

-

-

(219

)

At 31 December 2024

5,275

20,012

11,373

DEPRECIATION

At 1 January 2024

2,904

13,859

4,062

Charge for year

732

1,226

943

Eliminated on disposal

-

-

(121

)

At 31 December 2024

3,636

15,085

4,884

NET BOOK VALUE

At 31 December 2024

1,639

4,927

6,489

At 31 December 2023

2,371

4,379

3,061

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

29,745

6,385

66,766

Additions

-

83

6,326

Disposals

-

-

(219

)

At 31 December 2024

29,745

6,468

72,873

DEPRECIATION

At 1 January 2024

23,666

5,452

49,943

Charge for year

1,520

310

4,731

Eliminated on disposal

-

-

(121

)

At 31 December 2024

25,186

5,762

54,553

NET BOOK VALUE

At 31 December 2024

4,559

706

18,320

At 31 December 2023

6,079

933

16,823

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

36,521

29,490

Other debtors

82,997

69,117

119,518

98,607

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,352

10,163

Trade creditors

34,086

24,200

Taxation and social security

18,419

36,512

Other creditors

53,947

35,080

116,804

105,955

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,383

14,735

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

15,067

15,067

Between one and five years

18,833

33,900

33,900

48,967

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

A J Hubble and Mrs M K Hubble

Balance outstanding at start of year

68,211

23,649

Amounts advanced

110,077

109,888

Amounts repaid

(97,887

)

(65,326

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

80,401

68,211

Interest was charged on debit directors loan account balances exceeding £20,000 at 2.25%.