Hub Multimedia Limited - Period Ending 2014-03-31

Registration number: 08017107

Hub Multimedia Limited

Annual Report and Unaudited Abbreviated Accounts


for the Period from 1 May 2013 to 31 March 2014

 

Hub Multimedia Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Hub Multimedia Limited
(Registration number: 08017107)
Abbreviated Balance Sheet at 31 March 2014

		Note			31 March 2014 £			30 April 2013 £
Fixed assets
Tangible fixed assets					6,464			8,751
Current assets
Debtors					32,316			15,112
Cash at bank and in hand					-			106
					32,316			15,218
Creditors: Amounts falling due within one year					(38,766)			(18,021)
Net current liabilities					(6,450)			(2,803)
Total assets less current liabilities					14			5,948
Creditors: Amounts falling due after more than one year					-			(5,759)
Net assets					14			189
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(86)			89
Shareholders' funds					14			189

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Hub Multimedia Limited
(Registration number: 08017107)
Abbreviated Balance Sheet at 31 March 2014
......... continued

Approved by the director on 23 December 2014

.........................................
Mr H Bryan
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Hub Multimedia Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2013 to 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor Vehicles	25% reducing balance
Computer equipment	33% on cost

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Hub Multimedia Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2013 to 31 March 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2013		11,734			11,734
At 31 March 2014		11,734			11,734
Depreciation
At 1 May 2013		2,983			2,983
Charge for the period		2,287			2,287
At 31 March 2014		5,270			5,270
Net book value
At 31 March 2014		6,464			6,464
At 30 April 2013		8,751			8,751

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 March 2014 £			30 April 2013 £
Amounts falling due within one year		6,005			2,945
Amounts falling due after more than one year		-			5,759
Total secured creditors		6,005			8,704

Page 4

Hub Multimedia Limited
Notes to the Abbreviated Accounts for the Period from 1 May 2013 to 31 March 2014
......... continued

4	Share capital

Allotted, called up and fully paid shares

	31 March 2014						30 April 2013
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 5