Registered number
10307338
CUBE CONSULT LTD.
Unaudited Filleted Accounts
29 August 2022
CUBE CONSULT LTD.
Registered number: 10307338
Balance Sheet
as at 29 August 2022
Notes 2022 2021
£ £
Current assets
Debtors 3 - 21,068
Cash at bank and in hand 65,387 4,073
65,387 25,141
Creditors: amounts falling due within one year 4 (31,789) (14,112)
Net current assets 33,598 11,029
Total assets less current liabilities 33,598 11,029
Creditors: amounts falling due after more than one year 5 (17,915) (17,915)
Net assets/(liabilities) 15,683 (6,886)
Capital and reserves
Called up share capital 1 1
Profit and loss account 15,682 (6,887)
Shareholder's funds 15,683 (6,886)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F. B. Khalid
Director
Approved by the board on 21 July 2023
CUBE CONSULT LTD.
Notes to the Accounts
for the year ended 29 August 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The company has made a profit during the current financial year. Having assessed the available information and after making appropriate enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2022 2021
£ £
Other debtors - 21,068
4 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 4,843 5,616
Taxation and social security costs 21,458 208
Other creditors 5,488 8,288
31,789 14,112
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 17,915 17,915
6 Related party transactions
As at the balance sheet date, company owed Mr F. B. Khalid a sum of £421.
7 Controlling party
Mr F. B. Khalid, a director of the company, controls the company, as a result of controlling directly or indirectly, 100 per cent of the issued share capital of the company.
8 Other information
CUBE CONSULT LTD. is a private company limited by shares and incorporated in England. Its registered office is:
Kemp House
152 - 160 City Road
London
United Kingdom
EC1V 2NX
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