Company Registration No. 06015460 (England and Wales)
Hub Culture Services Ltd
Unaudited accounts
for the year ended 31 December 2020
Hub Culture Services Ltd
Unaudited accounts
Contents
Hub Culture Services Ltd
Company Information
for the year ended 31 December 2020
Director
Mr Stan Stalnaker
Company Number
06015460 (England and Wales)
Registered Office
A And L, Suite 1-3 Hop Exchange
24 Southwark Street
London
England
SE1 1TY
UK
Hub Culture Services Ltd
Statement of financial position
as at
31 December 2020
Tangible assets
7,425
8,321
Cash at bank and in hand
229
21,536
Creditors: amounts falling due within one year
(466,144)
(215,145)
Net current liabilities
(463,597)
(170,747)
Net liabilities
(456,172)
(162,426)
Called up share capital
1
1
Profit and loss account
(456,173)
(162,427)
Shareholders' funds
(456,172)
(162,426)
For the year ending 31 December 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 March 2022 and were signed on its behalf by
Mr Stan Stalnaker
Director
Company Registration No. 06015460
Hub Culture Services Ltd
Notes to the Accounts
for the year ended 31 December 2020
Hub Culture Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 06015460. The registered office is A And L, Suite 1-3 Hop Exchange, 24 Southwark Street, London, England, SE1 1TY, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
The financial statements have been prepared on a going concern basis on the grounds that the Director and the Parent Company 'Hub Culture Pavilions Ltd' have confirmed they will continue to support the company.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25 % Reducing Balance
Computer equipment
20 % Reducing Balance
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Hub Culture Services Ltd
Notes to the Accounts
for the year ended 31 December 2020
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2020
8,688
1,995
4,265
14,948
Additions
-
-
1,156
1,156
At 31 December 2020
8,688
1,995
5,421
16,104
At 1 January 2020
4,779
399
1,449
6,627
Charge for the year
977
319
756
2,052
At 31 December 2020
5,756
718
2,205
8,679
At 31 December 2020
2,932
1,277
3,216
7,425
At 31 December 2019
3,909
1,596
2,816
8,321
5
Debtors: amounts falling due within one year
2020
2019
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
50,401
-
Trade creditors
24,128
390
Amounts owed to group undertakings and other participating interests
386,935
153,853
7
Share capital
2020
2019
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Transactions with related parties
During the year income in respect of management fees was received from Hub Culture Ltd totalling £2,223.45 (2019: £6,592) a Company which holds 100% share capital in Hub Culture Services Ltd.
Total amount owed to related company Hub Culture Ltd, at the year end was £350,749 (2019: £153,853). This is a net figure after taking into account monies received and paid within the companies.
During the year loans to a connected company Hub Culture Pavilions UK Ltd was £36,186 (2019: 0). Hub Culture Pavilions UK Ltd is a connected company as Hub Culture Ltd also controls Hub Culture Pavilions UK Ltd.
Hub Culture Services Ltd
Notes to the Accounts
for the year ended 31 December 2020
Hub Culture Services Ltd is a subsidiary of Hub Culture Ltd, with 100% share ownership.
11
Average number of employees
During the year the average number of employees was 0 (2019: 0).