| |
|
2025 |
|
2024 |
| |
|
£ |
£ |
|
£ |
£ |
| Fixed assets |
|
|
166,695 |
|
|
207,734 |
| Current assets |
|
154,347 |
|
|
179,221 |
|
| Prepayments and accrued income |
|
55,150 |
|
|
69,663 |
|
| Creditors: amount falling due within one year |
|
(172,059) |
|
|
(176,339) |
|
|
Net current assets
|
|
|
37,438
|
|
|
72,545
|
|
Total assets less current liabilities
|
|
|
204,133 |
|
|
280,279 |
| Creditors: amount falling due after more than one year |
|
|
(193,817) |
|
|
(229,018) |
| Provisions for liabilities |
|
|
(420) |
|
|
(484) |
|
Net assets
|
|
|
9,896 |
|
|
50,777 |
| |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
9,896 |
|
|
50,777 |
| |
NOTES TO THE ACCOUNTS
General Information
Werk Hubs Limited is a private company, limited by shares, registered in England and Wales, registration number 07969451, registration address 15-17 Middle Street, Brighton, East Sussex, BN1 1AL.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and Buildings |
10 Straight Line |
| Plant and Machinery |
10 Straight Line
|
| Fixtures and Fittings |
25 Reducing Balance
|
| Computer Equipment |
25 Reducing Balance
|
|
| 2. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Plant and Machinery |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
36,561 |
|
475,503 |
|
14,109 |
|
40,256 |
|
566,429 |
| Additions |
- |
|
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
3,495 |
|
- |
|
- |
|
3,495 |
| At 31 March 2025 |
36,561 |
|
478,998 |
|
14,109 |
|
40,256 |
|
569,924 |
| Depreciation |
| At 01 April 2024 |
18,257 |
|
292,201 |
|
11,993 |
|
36,243 |
|
358,694 |
| Charge for year |
3,242 |
|
36,265 |
|
529 |
|
1,003 |
|
41,039 |
| On disposals |
- |
|
3,496 |
|
- |
|
- |
|
3,496 |
| At 31 March 2025 |
21,499 |
|
331,962 |
|
12,522 |
|
37,246 |
|
403,229 |
| Net book values |
| Closing balance as at 31 March 2025 |
15,062 |
|
147,036 |
|
1,587 |
|
3,010 |
|
166,695 |
| Opening balance as at 01 April 2024 |
18,304 |
|
183,301 |
|
2,116 |
|
4,013 |
|
207,734 |
The net book value of Plant and Machinery includes £ 4,434 (2024 £9,891) in respect of assets leased under finance leases or hire purchase contracts.
|
| 3. |
Average number of employees
Average number of employees during the year was 6 (2024 : 6).
|
| 4. |
Related parties
During the year the company entered into the following transactions with related parties: | Amount due from/to related party | | Provision for doubtful debt from the related party |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Cafewerks Limited | 94,267 | | 95,393 | | 0 | | 0 | | Creative Werkplaces Limited | (914) | | 19,658 | | 0 | | 0 | | Werks Collaborations Limited | (26,523) | | 4,543 | | 0 | | 0 | | Rates SOS Limited | (2,956) | | (2,956) | | 0 | | 0 |
At April 2019, the cafe's within two serviced offices were transferred into Cafewerks Ltd, an associated company. This also manages the events and meeting room spaces along with the catering including licensed events. Monies owed at the year end relate to transactions for the maintenance and payroll, which is shared by both companies. Creative Werkplaces Ltd repaid funds due for maintenance and payroll costs shared with the company from previous years. Werks Collaborations Ltd shares maintenance and payroll costs. Rates SOS Ltd is owed for operations shared in running both companies. |
| 5. |
Guarantees
Metrobank loan A new Metrobank loan was made in December 2019 for the renewal of the Lease on one serviced property. This is a five year loan.
When the Coronavirus pandemic swept through the UK and the country was placed into a three month lockdown, the Directors accepted an offer by Metrobank to have a loan repayment holiday. As a result the loan was fully repaid in June 2025.
The Directors had guaranteed this loan.
| Maximum Liability Incurred | | Amount Paid |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Metrobank loan | 7,545 | | 16,777 | | 5,649 | | 7,545 | | 7545 | | 16777 | | 5649 | | 7545 |
|
For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 November 2025 and were signed on its behalf by: --------------------------------
Ian Elwick
Director |
2
|