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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 May 2022 |
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HEYHUB LTD |
REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 May 2022 |
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for |
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HEYHUB LTD |
HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Contents of the Financial Statements |
for the year ended 31 May 2022 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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HEYHUB LTD |
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Company Information |
for the year ended 31 May 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Report of the Directors |
for the year ended 31 May 2022 |
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The directors present their report with the financial statements of the company for the year ended 31 May 2022. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of providing and developing social media networking application. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 June 2021 to the date of this report. |
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GOING CONCERN |
The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Income Statement |
for the year ended 31 May 2022 |
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2022 | 2021 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Administrative expenses | ( |
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154,707 | (220,606 | ) |
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Other operating income |
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OPERATING PROFIT/(LOSS) | 4 |
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Interest payable and similar expenses | ( |
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PROFIT/(LOSS) BEFORE TAXATION |
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Tax on profit/(loss) | 5 |
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PROFIT/(LOSS) FOR THE FINANCIAL
YEAR |
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HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Balance Sheet |
31 May 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Balance Sheet - continued |
31 May 2022 |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Notes to the Financial Statements |
for the year ended 31 May 2022 |
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1. | STATUTORY INFORMATION |
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Heyhub Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page. |
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The presentational 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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Turnover |
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. |
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Revenue from sales of digital media is recognised at point of sale. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Computer equipment - 33% on cost |
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Impairment |
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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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. |
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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 balance sheet date. |
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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. |
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Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
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Government assistance |
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme the government is paying the first year of interest on the loan. |
HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Notes to the Financial Statements - continued |
for the year ended 31 May 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Going concern |
The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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2022 | 2021 |
£ | £ |
Directors' remuneration |
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4. | OPERATING PROFIT/(LOSS) |
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The operating profit (2021 - operating loss) is stated after charging: |
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2022 | 2021 |
£ | £ |
Depreciation - owned assets |
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5. | TAXATION |
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Analysis of the tax credit |
The tax credit on the profit for the year was as follows: |
2022 | 2021 |
£ | £ |
Current tax: |
UK corporation tax | ( |
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Tax on profit/(loss) | ( |
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6. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 June 2021 |
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Additions |
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At 31 May 2022 |
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DEPRECIATION |
At 1 June 2021 |
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Charge for year |
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At 31 May 2022 |
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NET BOOK VALUE |
At 31 May 2022 |
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At 31 May 2021 |
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HEYHUB LTD (REGISTERED NUMBER: 10159952) |
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Notes to the Financial Statements - continued |
for the year ended 31 May 2022 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal value: | 2022 | 2021 |
£ | £ |
110,943 | Ordinary | £0.001143 | 127 | 127 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021: |
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2022 | 2021 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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