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REGISTERED NUMBER: 04329083 (England and Wales)















CUBE PROPERTY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CUBE PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M A Corkill
K M Jenkins
D Lang
S A Prescott





REGISTERED OFFICE: 502 Birchwood One
Dewhurst Road Birchwood
Warrington
WA3 7GB





REGISTERED NUMBER: 04329083 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 59,891 49,967

CURRENT ASSETS
Debtors 5 565,699 993,152
Cash at bank and in hand 96,315 99,911
662,014 1,093,063
CREDITORS
Amounts falling due within one year 6 (423,074 ) (487,638 )
NET CURRENT ASSETS 238,940 605,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

298,831

655,392

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 297,831 654,392
298,831 655,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





S A Prescott - Director


CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Cube Property Services Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04329083 and registered office address is 502 Birchwood One, Dewhurst Road Birchwood, Warrington, WA3 7GB.

2. ACCOUNTING POLICIES

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

The directors have considered the impact of the current economic outlook on the company and recognises that the future cannot be predicted with certainty. To date, however, the company has remained operational with policies in place to ensure all site workers are working safely and in accordance with government guidelines. Should demand for the company's services fall, the company would introduce cost control measures.

The directors believe that the company is well placed to manage the risks at these challenging times and therefore continues to adopt a going concern basis of accounting in preparing these financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.

In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee.

Making judgement based on historical experience on the level of provision required for bad debts. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue represents the aggregate of the fair value of sale of services provided, net of value added tax, rebates and discounts, plus an appropriate proportion of maintenance contract income provided during the period.

Revenue is recognised as recognised as those services are provided to customers. Contracted managed service revenue is recognised over the contract period on a pro-rata basis, which represents the level of completion of an individual contract. The unrecognised contracted revenue is included as provision for deferred income in the statement of financial position.

CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 15% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the income statement on a straight-line basis over the period of the lease.

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 the income statement in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 16 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2022 216,810
Additions 28,320
At 30 June 2023 245,130
DEPRECIATION
At 1 July 2022 166,843
Charge for year 18,396
At 30 June 2023 185,239
NET BOOK VALUE
At 30 June 2023 59,891
At 30 June 2022 49,967

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 312,732 212,590
Amounts owed by group undertakings 226,243 755,465
Other debtors 26,724 25,097
565,699 993,152

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 41,845 34,868
Taxation and social security 293,738 371,330
Other creditors 87,491 81,440
423,074 487,638

CUBE PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 04329083)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 32,733 29,000
Between one and five years 34,910 58,000
67,643 87,000

8. PARENT COMPANY

The immediate parent company of Cube Property Services Limited is Cube PSL Holdings Limited and its registered office is 502 Birchwood One Dewhurst Road, Birchwood, Warrington, WA3 7GB.

The ultimate parent company is Cube Group Holdings Limited and its registered office is 502 Birchwood One Dewhurst Road, Birchwood, Warrington, WA3 7GB.