REGISTERED NUMBER: 01231569 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Hub Engineering Co. Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P Rake

REGISTERED OFFICE:

Unit 21, Izons Industrial Estate

Oldbury Road

West Bromwich

West Midlands

B70 9BS

REGISTERED NUMBER:

01231569 (England and Wales)

ACCOUNTANTS:

Pride Accountants

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

FIXED ASSETS

Intangible assets

4

102,400

108,800

Tangible assets

5

69,414

41,855

171,814

150,655

CURRENT ASSETS

Stocks

34,617

49,314

Debtors

6

164,007

135,137

Cash at bank and in hand

43,305

43,672

241,929

228,123

CREDITORS

Amounts falling due within one year

7

128,085

122,336

NET CURRENT ASSETS

113,844

105,787

TOTAL ASSETS LESS CURRENT LIABILITIES

285,658

256,442

CREDITORS

Amounts falling due after more than one year

8

(32,427

)

(31,907

)

PROVISIONS FOR LIABILITIES

11

(13,189

)

(7,953

)

NET ASSETS

240,042

216,582

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

239,042

215,582

SHAREHOLDERS' FUNDS

240,042

216,582

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

J P Rake - Director

1.	STATUTORY INFORMATION

The Hub Engineering Co. Limited 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures, fittings & equipment

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Office 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 Income Statement, 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 6 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

160,000

AMORTISATION

At 1 January 2024

51,200

Charge for year

6,400

At 31 December 2024

57,600

NET BOOK VALUE

At 31 December 2024

102,400

At 31 December 2023

108,800

5.	TANGIBLE FIXED ASSETS

Fixtures,

Plant and

fittings

Motor

Office

machinery

& equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

93,001

25,521

33,679

19,016

171,217

Additions

39,820

-

-

-

39,820

At 31 December 2024

132,821

25,521

33,679

19,016

211,037

DEPRECIATION

At 1 January 2024

58,511

20,981

32,119

17,751

129,362

Charge for year

10,996

454

390

421

12,261

At 31 December 2024

69,507

21,435

32,509

18,172

141,623

NET BOOK VALUE

At 31 December 2024

63,314

4,086

1,170

844

69,414

At 31 December 2023

34,490

4,540

1,560

1,265

41,855

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

149,350

120,709

Other debtors

14,657

14,428

164,007

135,137

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

17,400

17,400

Hire purchase contracts (see note 9)

11,316

-

Trade creditors

37,070

42,539

Taxation and social security

23,102

14,050

Other creditors

39,197

48,347

128,085

122,336

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

14,510

31,907

Hire purchase contracts (see note 9)

17,917

-

32,427

31,907

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.24

31.12.23

£

£

Gross obligations repayable:

Within one year

13,120

-

Between one and five years

20,773

-

33,893

-

Finance charges repayable:

Within one year

1,804

-

Between one and five years

2,856

-

4,660

-

Net obligations repayable:

Within one year

11,316

-

Between one and five years

17,917

-

29,233

-

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

39,500

39,500

Between one and five years

151,416

29,625

190,916

69,125

10.	SECURED DEBTS

4Syte Limited hold a debenture dated 1st September 2021 in the form of a fixed and floating charge over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital buildings, fixtures, fixed plant and machinery.

11.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

13,189

7,953

Deferred

tax

£

Balance at 1 January 2024

7,953

Provided during year

5,236

Balance at 31 December 2024

13,189

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary

£1

1,000

1,000

13.	RELATED PARTY DISCLOSURES

Creditors (including non interest bearing loans) as at 31st December 2024 include due to Hub Hire Limited £nil. (2023 - £8,057).

The Hub Engineering Co. Limited and Hub Hire Limited share common directors and shareholders.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is J P Rake.