REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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CAPTUREHUB LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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FOR |
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CAPTUREHUB LIMITED |
CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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CAPTUREHUB LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants & Statutory Auditors |
1 Kings Avenue |
London |
N21 3NA |
CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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STATEMENT OF FINANCIAL POSITION |
30 JUNE 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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1. | STATUTORY INFORMATION |
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Capturehub Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax. |
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Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Property, plant and equipment |
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Fixtures and fittings -20% on cost. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Cash and cash equivalent |
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
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Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Going concern |
The company has made a loss of £1,410,886 and has a deficit on reserves of £1,382,177 at the year end, and also subsequent to the year end on the 28th July 2022, the company entered into a Compulsory Voluntary Arrangement (CVA) with its creditors. The company's ability to continue for the forseeable future is therefore very much dependant on its ability to meet its obligations under the terms of the CVA.The company continues to trade post CVA and its is the intention of the directors to continue to trade for the foreseeable future and having regards to the company's recent performance, its cashflow and profit forecast post CVA and having regards to its obligations under the terms of the CVA are of the opinion that the company will be able to meets its obligations and continue in existence for a period of at least 12 months form the date of approving these financial statements and have therefore prepared these financial statements on a going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 28 June 2020 |
and 30 June 2021 |
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AMORTISATION |
At 28 June 2020 |
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Charge for period |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 27 June 2020 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
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fittings |
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COST |
Additions |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Tax |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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VAT | 4,096,568 | 1,553,412 |
Other creditors |
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Accrued expenses |
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8. | SECURED DEBTS |
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There is an unlimited guarantee given by Never What If Group Limited, Hubfind Limited, Market Fresh Limited and marshall Scott interiors Limited dated 25 January 2018 in favour of Barclays Bank Plc. |
CAPTUREHUB LIMITED (REGISTERED NUMBER: 10364155) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 JUNE 2020 TO 30 JUNE 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary shares | £1 | 100 | 100 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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Included in debtors, falling due within one year, is an amount of £2,491,645 (2020: £1,714,451) owed from connected companies. These loans are repayable on demand. |
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Included in creditors, falling due within one year is an amount of £3,623 (2020: £1,207,190) owed to connected companies. These loans are repayable on demand. |
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12. | POST BALANCE SHEET EVENTS |
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Subsequent to the year end on the 28th July 2022, the company entered into a Compulsory Voluntary |
Arrangement (CVA) with its creditors. The company continues to trade post CVA and its is the intention of the |
directors to continue to trade for the foreseeable future. |
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13. | ULTIMATE CONTROLLING PARTY |
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The Largest and smallest group in which the results of the company are consolidated is that headed by Never What If Group Limited, which is incorporated in the United Kingdom. The consolidated financial statements of this company are available to the public and may be obtained from the company's registered office, being Olivers Bam, Maldon Road, Witham, Esses, United Kingdom CM8 3HY |