14 0 0 0 0 0 0 true false true true false false false false false false true false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20 15 20 860 860 860 136,573 136,573 136,573 xbrli:pure xbrli:shares iso4217:GBP NI681110 2022-08-01 2023-01-31 NI681110 2023-01-31 NI681110 2022-07-31 NI681110 2021-08-01 2022-07-31 NI681110 2022-07-31 NI681110 2021-07-31 NI681110 bus:Consolidated 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:Subsidiary1 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:Subsidiary2 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:Subsidiary3 2022-08-01 2023-01-31 NI681110 core:PlantMachinery 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:PlantMachinery 2022-08-01 2023-01-31 NI681110 core:FurnitureFittings 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:FurnitureFittings 2022-08-01 2023-01-31 NI681110 core:MotorVehicles 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:MotorVehicles 2022-08-01 2023-01-31 NI681110 bus:Director1 2022-08-01 2023-01-31 NI681110 bus:Consolidated 2023-01-31 NI681110 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 NI681110 bus:Consolidated core:PlantMachinery 2023-01-31 NI681110 bus:Consolidated core:FurnitureFittings 2023-01-31 NI681110 bus:Consolidated core:MotorVehicles 2023-01-31 NI681110 bus:Consolidated core:PatentsTrademarksLicencesConcessionsSimilar 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:WithinOneYear 2023-01-31 NI681110 core:AfterOneYear bus:Consolidated 2023-01-31 NI681110 bus:Consolidated 2022-07-31 NI681110 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-01-31 NI681110 bus:Consolidated core:ShareCapital 2023-01-31 NI681110 bus:Consolidated core:ShareCapital 2022-07-31 NI681110 bus:Consolidated core:RevaluationReserve 2023-01-31 NI681110 bus:Consolidated core:RevaluationReserve 2022-07-31 NI681110 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-01-31 NI681110 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-07-31 NI681110 core:ShareCapital 2023-01-31 NI681110 core:ShareCapital 2022-07-31 NI681110 bus:Consolidated core:ShareCapital 2021-08-01 2022-07-31 NI681110 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 NI681110 bus:Consolidated 2021-08-01 2022-07-31 NI681110 core:ShareCapital 2021-08-01 2022-07-31 NI681110 core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 NI681110 bus:Consolidated core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 NI681110 core:AdditionsToInvestments bus:Consolidated core:Non-currentFinancialInstruments 2023-01-31 NI681110 bus:Consolidated core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 NI681110 bus:Consolidated core:Non-currentFinancialInstruments 2023-01-31 NI681110 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-01-31 NI681110 bus:SmallEntities 2022-08-01 2023-01-31 NI681110 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-01-31 NI681110 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-01-31 NI681110 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-01-31 NI681110 bus:FullAccounts 2022-08-01 2023-01-31
COMPANY REGISTRATION NUMBER: NI681110
Cub Holdings Ltd
Filleted Unaudited Financial Statements
31 January 2023
Cub Holdings Ltd
Consolidated Statement of Financial Position
31 January 2023
31 Jan 23
31 Jul 22
Note
£
£
Fixed assets
Intangible assets
5
860
Tangible assets
6
848,134
Investments
7
136,573
---------
----
985,567
Current assets
Stocks
633,096
Debtors
8
237,925
Investments
9
2
Cash at bank and in hand
857,411
1
------------
----
1,728,434
1
Creditors: amounts falling due within one year
10
840,780
------------
----
Net current assets
887,654
1
------------
----
Total assets less current liabilities
1,873,221
1
Creditors: amounts falling due after more than one year
11
( 6)
------------
----
Net assets
1,873,227
1
------------
----
Capital and reserves
Called up share capital
1
1
Revaluation reserve
90,000
Profit and loss account
1,783,226
------------
----
Shareholders funds
1,873,227
1
------------
----
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 consolidated income statement has not been delivered.
For the Period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cub Holdings Ltd
Consolidated Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 29 January 2024 , and are signed on behalf of the board by:
Mr W Lyons
Director
Company registration number: NI681110
Cub Holdings Ltd
Company Statement of Financial Position
31 January 2023
31 Jan 23
31 Jul 22
Note
£
£
Current assets
Investments
9
2
Cash at bank and in hand
1
1
----
----
3
1
----
----
Net current assets
3
1
----
----
Total assets less current liabilities
3
1
----
----
Capital and reserves
Called up share capital
3
1
----
----
Shareholders funds
3
1
----
----
The profit for the financial Period of the parent company was £Nil (2022: £Nil).
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'.
For the Period ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2024 , and are signed on behalf of the board by:
Mr W Lyons
Director
Company registration number: NI681110
Cub Holdings Ltd
Consolidated Statement of Changes in Equity
Period from 1 August 2022 to 31 January 2023
Called up share capital
Revaluation reserve
Profit and loss account
Total
£
£
£
£
At 1 August 2021
Profit for the period
Issue of shares
1
1
----
----
----
----
Total investments by and distributions to owners
1
1
At 31 July 2022 (as previously reported)
1
1
Effects of changes in accounting policies
90,000
1,727,051
1,817,051
----
--------
------------
------------
At 31 July 2022 (restated)
1
90,000
1,727,051
1,817,052
----
--------
------------
------------
Profit for the period
219,175
219,175
----
--------
------------
------------
Total comprehensive income for the period
219,175
219,175
Dividends paid and payable
( 163,000)
( 163,000)
----
----
---------
---------
Total investments by and distributions to owners
( 163,000)
( 163,000)
----
--------
------------
------------
At 31 January 2023
1
90,000
1,783,226
1,873,227
----
--------
------------
------------
Cub Holdings Ltd
Company Statement of Changes in Equity
Period from 1 August 2022 to 31 January 2023
Called up share capital
Profit and loss account
Total
£
£
£
At 1 August 2021
Profit for the period
Issue of shares
1
1
----
----
----
Total investments by and distributions to owners
1
1
At 31 July 2022
3
3
Profit for the period
----
----
----
At 31 January 2023
3
3
----
----
----
Cub Holdings Ltd
Notes to the Financial Statements
Period from 1 August 2022 to 31 January 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 5-7 Apollo Road, Belfast, BT12 6HP.
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.
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The financial statements consolidate the financial statements of Cub Holdings Ltd and all of its subsidiary undertakings.
The results of subsidiaries acquired or disposed of during the Period are included from or to the date that control passes.
The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
20% reducing balance
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.
Investments in associates
Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.
Investments in joint ventures
Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 persons employed by the company during the Period amounted to 14 (2022: Nil).
5. Intangible assets
Group
Patents, trademarks and licences
£
Cost
At 1 August 2022
Additions
860
----
At 31 January 2023
860
----
Amortisation
At 1 August 2022 and 31 January 2023
----
Carrying amount
At 31 January 2023
860
----
At 31 July 2022
----
The company has no intangible assets.
6. Tangible assets
Group
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2022
Additions
47,509
1,778
26,474
75,761
Transfers
655,000
55,087
95,570
162,672
968,329
---------
---------
--------
---------
------------
At 31 January 2023
655,000
102,596
97,348
189,146
1,044,090
---------
---------
--------
---------
------------
Depreciation
At 1 August 2022
Charge for the period
8,272
4,883
23,059
36,214
Transfers
37,631
40,949
81,162
159,742
---------
---------
--------
---------
------------
At 31 January 2023
45,903
45,832
104,221
195,956
---------
---------
--------
---------
------------
Carrying amount
At 31 January 2023
655,000
56,693
51,516
84,925
848,134
---------
---------
--------
---------
------------
At 31 July 2022
---------
---------
--------
---------
------------
The company has no tangible assets.
7. Investments
Group
Other investments other than loans
£
Cost
At 1 August 2022
Additions
136,573
---------
At 31 January 2023
136,573
---------
Impairment
At 1 August 2022 and 31 January 2023
---------
Carrying amount
At 31 January 2023
136,573
---------
At 31 July 2022
---------
The company has no investments.
Subsidiaries, associates and other investments
Details of the investments in which the group has an interest of 20% or more are as follows:
Registered office
Class of share
Percentage of shares held
Subsidiary undertakings
Soaks Bathrooms Ltd
5-7 Apollo Road
Ordinary
100
Belfast
BT12 6HP
Latner Ltd
11 Abbey Street
Ordinary
100
Armagh
BT61 &7DX
Bathroom Envy Ltd
5-7 Apollo Road
Ordinary
50
Belfast
BT12 6HP
8. Debtors
Group
Company
31 Jan 23
31 Jul 22
31 Jan 23
31 Jul 22
£
£
£
£
Trade debtors
56,650
Other debtors
181,275
---------
----
----
----
237,925
---------
----
----
----
9. Investments
Group
Company
31 Jan 23
31 Jul 22
31 Jan 23
31 Jul 22
£
£
£
£
Investments in group undertakings
2
2
----
----
----
----
10. Creditors: amounts falling due within one year
Group
Company
31 Jan 23
31 Jul 22
31 Jan 23
31 Jul 22
£
£
£
£
Bank loans and overdrafts
3,742
Trade creditors
116,632
Corporation tax
34,946
Social security and other taxes
60,296
Other creditors
625,164
---------
----
----
----
840,780
---------
----
----
----
11. Creditors: amounts falling due after more than one year
Group
Company
31 Jan 23
31 Jul 22
31 Jan 23
31 Jul 22
£
£
£
£
Bank loans and overdrafts
( 6)
----
----
----
----