The Hub Home Solutions Ltd - Accounts

The Hub Home Solutions Ltd - Accounts

THE HUB HOME SOLUTIONS LTD - Company Information

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Registered Number: SC646656
Scotland

 

 

 

THE HUB HOME SOLUTIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2021

End date: 30 November 2022

The Hub Home Solutions Ltd
Contents Page
For the year ended 30 November 2022
Directors Lynsey Morag Campbell
Wilson Kane
Registered Number SC646656
Registered Office 38-40 Cadzow Street
Motherwell
ML3 6DG
Accountants Turner Accountancy Limited
101 Park Street

Motherwell
ML1 1PF
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2022.
Principal activities
Principal activity of the company during the financial year was of other building completion and finishing. 
Directors
The directors who served the company throughout the year were as follows:
Lynsey Morag Campbell
Wilson Kane
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Lynsey Morag Campbell
Director

Date approved: 31 August 2023
2
Accountants report

You consider that the company is exempt from an audit for the year ended 30 November 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Limited
30 November 2022



....................................................
Turner Accountancy Limited
101 Park Street

Motherwell
ML1 1PF
31 August 2023
3
 
 		 Notes
 		 2022
£		   2021
£
Current assets      
Stocks 3 11,182    11,182 
Debtors 4 24,932    17,955 
Cash at bank and in hand 13,173    34,351 
49,287    63,488 
Creditors: amount falling due within one year 5 (72,248)   (72,477)
Net current liabilities (22,961)   (8,989)
 
Total assets less current liabilities (22,961)   (8,989)
Net liabilities (22,961)   (8,989)
 

Capital and reserves 		     
Called up share capital 4    4 
Profit and loss account (22,965)   (8,993)
Shareholder's funds (22,961)   (8,989)
 


For the year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 August 2023 and were signed on its behalf by:


-------------------------------
Lynsey Morag Campbell
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2020 4  (43,048) (43,044)
Profit for the year 34,055  34,055 
Total comprehensive income for the year -  34,055  34,055 
Total investments by and distributions to owners -  -  - 
At 30 November 2021 4  (8,993) (8,989)
At 01 December 2021 4  (8,993) (8,989)
Profit for the year (13,972) (13,972)
Total comprehensive income for the year -  (13,972) (13,972)
Total investments by and distributions to owners -  -  - 
At 30 November 2022 4  (22,965) (22,961)
5
General Information
The Hub Home Solutions Ltd is a private company, limited by shares, registered in Scotland, registration number SC646656, registration address 38-40 Cadzow Street, Motherwell, ML3 6DG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – 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.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2021 : 2).
3.

Stocks

2022
£		   2021
£
Work in Progress 11,182    11,182 
11,182    11,182 

4.

Debtors: amounts falling due within one year

2022
£		   2021
£
Trade Debtors 1,275    17,951 
PAYE & Social Security 122    0 
Directors' Current Accounts 0    4 
1,397    17,955 

4.

Debtors: amounts falling due after one year

2022
£		   2021
£
Directors Loan Accounts 23,535    0 
23,535    0 

5.

Creditors: amount falling due within one year

2022
£		   2021
£
TMH Intercompany 65,550    65,550 
PAYE & Social Security 0    229 
Accrued Expenses 6,698    6,698 
72,248    72,477 

6