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Unaudited Financial Statements for the Year Ended 30 June 2020 |
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Bubble Hub Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2020 |
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for |
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Bubble Hub Limited |
Bubble Hub Limited (Registered number: 11536908) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Bubble Hub Limited |
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Company Information |
for the Year Ended 30 June 2020 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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Arquen House |
4-6 Spicer Street |
St. Albans |
AL3 4PQ |
Bubble Hub Limited (Registered number: 11536908) |
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Balance Sheet |
30 June 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one year | 7 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital |
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Retained earnings | ( |
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( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Bubble Hub Limited (Registered number: 11536908) |
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Balance Sheet - continued |
30 June 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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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Bubble Hub Limited (Registered number: 11536908) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
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1. | Statutory information |
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Bubble Hub Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value on a straight line basis, over the following expected useful lives: |
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Freehold property - 50 years |
Improvements to property - 50 years |
Fixtures and fittings - 7 years |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Going concern |
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. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2019 - NIL). |
Bubble Hub Limited (Registered number: 11536908) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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4. | Tangible fixed assets |
Improvements | Fixtures |
Freehold | to | and |
property | property | fittings | Totals |
£ | £ | £ | £ |
Cost |
At 1 July 2019 |
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Additions |
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At 30 June 2020 |
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Depreciation |
Charge for year |
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At 30 June 2020 |
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Net book value |
At 30 June 2020 |
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At 30 June 2019 |
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Plant and machinery has been reclassified to ‘fixtures and fittings’ within the accounts to 30 June 2020 as this better reflects the true nature of the assets. |
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5. | Debtors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade debtors |
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VAT |
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Prepayments and accrued income |
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6. | Creditors: amounts falling due within one year |
2020 | 2019 |
£ | £ |
Trade creditors |
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VAT | 1,907 | - |
Accruals |
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Bubble Hub Limited (Registered number: 11536908) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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7. | Creditors: amounts falling due after more than one year |
2020 | 2019 |
£ | £ |
Bank loans - 2-5 years |
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Other loans |
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Directors' loan accounts | 434,676 | 433,681 |
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8. | Related party disclosures |
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The ‘other loans’ balance is a loan received from the spouse of H Dougall in the period ending 2019. Interest is payable on this loan at 4.15% from the 12th of November 2020, with repayment expected two years after this date. |