The Solution Hub Ltd - Limited company accounts 16.3

REGISTERED NUMBER: 08064891 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 June 2017

for

The Solution Hub Ltd

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mr D Beales

Mrs C L Beales

SECRETARY:

Mrs C L Beales

REGISTERED OFFICE:

11 Thornhill Terrace

Sunderland

Tyne and Wear

SR2 7JL

REGISTERED NUMBER:

08064891 (England and Wales)

ACCOUNTANTS:

Forbes Young Accountancy Ltd

Rotterdam House

116 Quayside

Newcastle Upon Tyne

Tyne and Wear

NE1 3DY

BANKERS:

Cater Allen Private Bank

9 Nelson Street

Bradford

BD1 5AN

The directors present their report with the financial statements of the company for the year ended 30 June 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of IT Consultancy Services.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2016 to the date of this report.

Mr D Beales

Mrs C L Beales

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr D Beales - Director

25 August 2017

TURNOVER

95,792

143,322

Administrative expenses

58,403

41,009

OPERATING PROFIT

4

37,389

102,313

Interest receivable and similar income

-

152

PROFIT BEFORE TAXATION

37,389

102,465

Tax on profit

8,627

20,854

PROFIT FOR THE FINANCIAL YEAR

28,762

81,611

FIXED ASSETS

Tangible assets

5

1,224

1,182

CURRENT ASSETS

Debtors

6

3,724

2,908

Cash at bank

41,390

56,938

45,114

59,846

CREDITORS

Amounts falling due within one year

7

10,306

23,758

NET CURRENT ASSETS

34,808

36,088

TOTAL ASSETS LESS CURRENT
LIABILITIES

36,032

37,270

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

36,030

37,268

SHAREHOLDERS' FUNDS

36,032

37,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25 August 2017 and were signed on its behalf by:

Mr D Beales - Director

1.	STATUTORY INFORMATION

The Solution Hub Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 year end and that are expected to apply to the reversal of the

timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.17

30.6.16

£

Depreciation - owned assets

408

394

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

2,766

Additions

450

At 30 June 2017

3,216

DEPRECIATION

At 1 July 2016

1,584

Charge for year

408

At 30 June 2017

1,992

NET BOOK VALUE

At 30 June 2017

1,224

At 30 June 2016

1,182

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

Trade debtors

2,856

2,040

Other debtors

868

3,724

2,908

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

Taxation and social security

10,306

23,758