Hubstar Systems Limited - Filleted accounts

Registered number

08853435

Hubstar Systems Limited

Unaudited Filleted Accounts

31 December 2025

Hubstar Systems Limited
Registered number:		08853435
Balance Sheet
as at 31 December 2025

Notes			2025			2024
As restated
£				£
Fixed assets
Tangible assets	5		6,835			2,843

Current assets
Stocks		78,458			8,250
Debtors	6	2,242,237			1,717,302
Cash at bank and in hand		74,709			338,079
		2,395,404			2,063,631

Creditors: amounts falling due within one year	7	(1,613,584)			(1,599,939)

Net current assets			781,820			463,692

Net assets			788,655			466,535

Capital and reserves
Called up share capital			5,152			5,152
Share premium			352,078			352,078
Capital contribution			2,148,490			2,120,897
Profit and loss account			(1,717,065)			(2,011,592)

Shareholders' funds			788,655			466,535

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




J T Anderson
Director
Approved by the board on 18 September 2026

Hubstar Systems Limited
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).


2	Prior year adjustment

	During the year the Company changed its accounting policy on the timing of the recognition of turnover from the sale of software licences and maintenance contracts so that this is now recognised over the term of the licence and contract period. The error has been corrected by restating each of the affected financial statements for the prior period as follows:
		As previously stated £	Adjustment £		Restated £
	Turnover	4,952,681	-1,048,780		3,903,901
	Profit before tax	-29,290	-1,048,780		-1,078,070
	Profit after tax	111,275	-900,111		-788,836
	Other taxes	799,769	148,669		948,438
	Deferred income	0	1,048,780		1,048,780
	Retained earnings	-1,111,481	-900,111		-2,011,592

	The adjustment resulted in:
	A decrease in net assets at 31 December 2024 of £900,111.
	A decrease in the profit for the year ended 31 December 2024 of £900,111.

	Comparative figures have been restated accordingly. The adjustment has no impact on the current year's cash flows.


3	Going concern
	The company is dependent on loans from companies under the control of the ultimate controlling party to provide working capital and to enable it to pay its liabilities as they fall due. The directors have received assurances from the ultimate controlling party that he will continue to provide this support for the foreseeable future and will not seek repayment of the amounts due to the various companies until there are alternative sources of finance available. As such, these loans, which are interest free are under FRS102 classed as capital contributions and presented as such. On this basis and in conjunction with their forecasts for the coming twelve months the directors are satisfied that the company is a going concern and accordingly the accounts have been prepared on that basis.


	Turnover
	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, software licences and maintenance contracts. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the sale of software and maintenance contracts is recognised over the period of the licence.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, and equipment	over 3 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


4	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		30		30


5	Tangible fixed assets
					Office equipment etc
£
	Cost
	At 1 January 2025				41,725
	Additions				7,537
	At 31 December 2025				49,262

	Depreciation
	At 1 January 2025				38,882
	Charge for the year				3,545
	At 31 December 2025				42,427

	Net book value
	At 31 December 2025				6,835
	At 31 December 2024				2,843


6	Debtors		2025		2024
As restated
£				£

	Trade debtors		937,576		764,756
	Amounts owed by group undertakings and undertakings in which the company has a participating interest		909,361		-
	Other taxes		394,396		948,438
	Other debtors		904		4,108
			2,242,237		1,717,302


7	Creditors: amounts falling due within one year		2025		2024
As restated
£				£

	Trade creditors		265,277		439,152
	Deferred revenue		1,145,566		1,048,780
	Taxation and social security costs		186,944		89,539
	Other creditors		15,797		22,468
			1,613,584		1,599,939


8	Contingent assets

	The company has tax losses carried forward of £661,588 (2024: £714,488). The potential deferred tax asset in respect of these losses is £165,397 (2024: £178,622). No provision has been made for this asset as the timing of the recoverability of these tax losses is uncertain.


9	Controlling party

	The company is a wholly owned subsidiary of Hubstar Group Limited, whose registered office is Regent House, 316 Beulah Hill, London SE19 3HF.


10	Other information

	Hubstar Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Corner Cottage
	Hempstead
	Norwich
	NR12 0SH