4 false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2021 - FRS102_2021 896,646 6,269 46,717 856,198 856,198 896,646 xbrli:pure xbrli:shares iso4217:GBP 04444553 2022-06-01 2023-05-31 04444553 2023-05-31 04444553 2022-05-31 04444553 2021-06-01 2022-05-31 04444553 2022-05-31 04444553 core:FurnitureFittings 2022-06-01 2023-05-31 04444553 bus:Director1 2022-06-01 2023-05-31 04444553 core:FurnitureFittings 2022-05-31 04444553 core:FurnitureFittings 2023-05-31 04444553 core:WithinOneYear 2023-05-31 04444553 core:WithinOneYear 2022-05-31 04444553 core:ShareCapital 2023-05-31 04444553 core:ShareCapital 2022-05-31 04444553 core:RevaluationReserve 2023-05-31 04444553 core:RevaluationReserve 2022-05-31 04444553 core:RetainedEarningsAccumulatedLosses 2023-05-31 04444553 core:RetainedEarningsAccumulatedLosses 2022-05-31 04444553 core:CostValuation core:Non-currentFinancialInstruments 2022-05-31 04444553 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-05-31 04444553 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-05-31 04444553 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 04444553 core:Non-currentFinancialInstruments 2023-05-31 04444553 core:Non-currentFinancialInstruments 2022-05-31 04444553 bus:SmallEntities 2022-06-01 2023-05-31 04444553 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04444553 bus:FullAccounts 2022-06-01 2023-05-31 04444553 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 04444553 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04444553 core:ComputerEquipment 2022-06-01 2023-05-31 04444553 core:ComputerEquipment 2022-05-31 04444553 core:ComputerEquipment 2023-05-31
COMPANY REGISTRATION NUMBER: 04444553
Icube Limited
Unaudited financial statements
31 May 2023
Icube Limited
Statement of financial position
31 May 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
831
313
Investments
6
856,198
896,646
---------
---------
857,029
896,959
Current assets
Debtors
7
123,961
101,170
Cash at bank and in hand
370,831
193,562
---------
---------
494,792
294,732
Creditors: Amounts falling due within one year
8
( 109,862)
( 47,016)
---------
---------
Net current assets
384,930
247,716
-----------
-----------
Total assets less current liabilities
1,241,959
1,144,675
Provisions
Taxation including deferred tax
( 158)
( 59)
-----------
-----------
Net assets
1,241,801
1,144,616
-----------
-----------
Capital and reserves
Called up share capital
102
102
Revaluation reserve
17,383
15,833
Profit and loss account
1,224,316
1,128,681
-----------
-----------
Shareholders funds
1,241,801
1,144,616
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Icube Limited
Statement of financial position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 1 December 2023 , and are signed on behalf of the board by:
J E Lloyd
Director
Company registration number: 04444553
Icube Limited
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gatehouse 5 Village Road, Clifton Village, Nottingham, NG11 8NP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Computer equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 4 (2022: 4 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 June 2022
10,014
22,648
32,662
Additions
702
702
Disposals
( 22,306)
( 22,306)
-------
-------
-------
At 31 May 2023
10,014
1,044
11,058
-------
-------
-------
Depreciation
At 1 June 2022
10,014
22,335
32,349
Charge for the year
184
184
Disposals
( 22,306)
( 22,306)
-------
-------
-------
At 31 May 2023
10,014
213
10,227
-------
-------
-------
Carrying amount
At 31 May 2023
831
831
-------
-------
-------
At 31 May 2022
313
313
-------
-------
-------
6. Investments
Other investments other than loans
£
Cost
At 1 June 2022
896,646
Additions
6,269
Revaluations
( 46,717)
---------
At 31 May 2023
856,198
---------
Impairment
At 1 June 2022 and 31 May 2023
---------
Carrying amount
At 31 May 2023
856,198
---------
At 31 May 2022
896,646
---------
7. Debtors
2023
2022
£
£
Trade debtors
38,002
Other debtors
123,961
63,168
---------
---------
123,961
101,170
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Social security and other taxes
104,515
44,393
Other creditors
5,347
2,623
---------
-------
109,862
47,016
---------
-------