IRIS Accounts Production v24.1.9.2 13761511 Board of Directors Board of Directors 1.12.22 30.11.23 30.11.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh137615112022-11-30137615112023-11-30137615112022-12-012023-11-30137615112021-11-22137615112021-11-232022-11-30137615112022-11-3013761511ns15:EnglandWales2022-12-012023-11-3013761511ns14:PoundSterling2022-12-012023-11-3013761511ns10:Director12022-12-012023-11-3013761511ns10:Director22022-12-012023-11-3013761511ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3013761511ns10:SmallEntities2022-12-012023-11-3013761511ns10:AuditExemptWithAccountantsReport2022-12-012023-11-3013761511ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3013761511ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3013761511ns10:FullAccounts2022-12-012023-11-3013761511ns10:RegisteredOffice2022-12-012023-11-3013761511ns5:CurrentFinancialInstruments2023-11-3013761511ns5:CurrentFinancialInstruments2022-11-3013761511ns5:Non-currentFinancialInstruments2023-11-3013761511ns5:Non-currentFinancialInstruments2022-11-3013761511ns5:ShareCapital2023-11-3013761511ns5:ShareCapital2022-11-3013761511ns5:RetainedEarningsAccumulatedLosses2023-11-3013761511ns5:RetainedEarningsAccumulatedLosses2022-11-3013761511ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3013761511ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3013761511ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-11-3013761511ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-11-3013761511ns5:Non-currentFinancialInstruments2022-12-012023-11-3013761511ns5:Secured2023-11-3013761511ns5:Secured2022-11-30
REGISTERED NUMBER: 13761511 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

M CUBED ASSOCIATES LTD

M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

M CUBED ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: P E Frost
B E Frost





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 13761511 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)

BALANCE SHEET
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 365,780 410,690

CURRENT ASSETS
Debtors 5 1,200 -
Cash at bank 6,866 12,157
8,066 12,157
CREDITORS
Amounts falling due within one year 6 2,701 720
NET CURRENT ASSETS 5,365 11,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,145

422,127

CREDITORS
Amounts falling due after more than one
year

7

470,316

430,294
NET LIABILITIES (99,171 ) (8,167 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (99,172 ) (8,168 )
(99,171 ) (8,167 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 28 July 2024 and were signed on its behalf by:




P E Frost - Director



B E Frost - Director


M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)

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

1. STATUTORY INFORMATION

M Cubed Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

The directors have made an assessment about the company's ability to continue as a going concern and they consider that it will be able to meet its obligations as they become due. There are no intentions for the loans provided by the Directors and the Shareholder to be recalled and therefore as a result they have adopted the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 410,690
Additions 45,090
Impairments (90,000 )
At 30 November 2023 365,780
NET BOOK VALUE
At 30 November 2023 365,780
At 30 November 2022 410,690

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 (90,000 )
Cost 455,780
365,780

If the investment property had not been revalued it would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 455,780 -

Investment property was valued on an open market basis on 16 July 2024 by the Directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 1,200 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors 2,701 720

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 251,272 251,250
Other creditors 219,044 179,044
470,316 430,294

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 251,272 251,250

The bank loan is a mortgage secured by a charge on the property owned by the company.

M CUBED ASSOCIATES LTD (REGISTERED NUMBER: 13761511)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 251,272 251,250

The bank loan is a mortgage secured by general charge against the investment property.

9. RELATED PARTY DISCLOSURES

At the year end the company owed Miss B H Frost, the sole shareholder, an amount of £158,999. There are no specific terms attached to this loan.

The Directors made loans to the company and are owed £60,045 as at the year end. There are no specific terms attached to this loan.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
M CUBED ASSOCIATES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M Cubed Associates Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of M Cubed Associates Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M Cubed Associates Ltd and state those matters that we have agreed to state to the Board of Directors of M Cubed Associates Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M Cubed Associates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M Cubed Associates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of M Cubed Associates Ltd. You consider that M Cubed Associates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of M Cubed Associates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


28 July 2024