0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 143,558 147,547 31,105 260,000 260,000 143,558 xbrli:pure xbrli:shares iso4217:GBP 13559171 2022-09-01 2023-08-31 13559171 2023-08-31 13559171 2022-08-31 13559171 2021-08-10 2022-08-31 13559171 2022-08-31 13559171 2021-08-09 13559171 core:FurnitureFittings 2022-09-01 2023-08-31 13559171 core:MotorVehicles 2022-09-01 2023-08-31 13559171 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 13559171 bus:Director1 2022-09-01 2023-08-31 13559171 core:FurnitureFittings 2023-08-31 13559171 core:MotorVehicles 2023-08-31 13559171 core:WithinOneYear 2023-08-31 13559171 core:WithinOneYear 2022-08-31 13559171 core:ShareCapital 2023-08-31 13559171 core:ShareCapital 2022-08-31 13559171 core:RetainedEarningsAccumulatedLosses 2023-08-31 13559171 core:RetainedEarningsAccumulatedLosses 2022-08-31 13559171 core:CostValuation core:Non-currentFinancialInstruments 2022-08-31 13559171 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-08-31 13559171 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-08-31 13559171 core:CostValuation core:Non-currentFinancialInstruments 2023-08-31 13559171 core:Non-currentFinancialInstruments 2023-08-31 13559171 core:Non-currentFinancialInstruments 2022-08-31 13559171 bus:Director1 2022-08-31 13559171 bus:Director1 2023-08-31 13559171 bus:Director1 2022-08-31 13559171 bus:Director1 2021-08-10 2022-08-31 13559171 bus:SmallEntities 2022-09-01 2023-08-31 13559171 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 13559171 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 13559171 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 13559171 bus:FullAccounts 2022-09-01 2023-08-31 13559171 bus:OrdinaryShareClass1 2023-08-31 13559171 bus:OrdinaryShareClass1 2022-08-31 13559171 core:OfficeEquipment 2022-09-01 2023-08-31 13559171 core:ComputerEquipment 2022-09-01 2023-08-31 13559171 core:ComputerEquipment 2022-08-31 13559171 core:ComputerEquipment 2023-08-31
COMPANY REGISTRATION NUMBER: 13559171
Kube Property Investments Ltd
Filleted Unaudited Financial Statements
31 August 2023
Kube Property Investments Ltd
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
6,130
620
Investments
5
260,000
143,558
----------
----------
266,130
144,178
Current assets
Debtors
6
1,196
776
Cash at bank and in hand
1,570
57,251
-------
---------
2,766
58,027
Creditors: amounts falling due within one year
7
377,145
233,159
----------
----------
Net current liabilities
374,379
175,132
----------
----------
Total assets less current liabilities
( 108,249)
( 30,954)
----------
---------
Net liabilities
( 108,249)
( 30,954)
----------
---------
Capital and reserves
Called up share capital
8
1
1
Profit and loss account
( 108,250)
( 30,955)
----------
---------
Shareholders deficit
( 108,249)
( 30,954)
----------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31st August 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 year 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 .
Kube Property Investments Ltd
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
Mr R Kubilius
Director
Company registration number: 13559171
Kube Property Investments Ltd
Notes to the Financial Statements
Year ended 31st August 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 Ivy Cottage, The Hill, Grinshill, Shrewsbury, SY4 3BU.
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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% 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.
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.
4. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1st September 2022
816
816
Additions
1,111
5,250
6,361
-------
-------
----
-------
At 31st August 2023
1,111
5,250
816
7,177
-------
-------
----
-------
Depreciation
At 1st September 2022
196
196
Charge for the year
208
438
205
851
-------
-------
----
-------
At 31st August 2023
208
438
401
1,047
-------
-------
----
-------
Carrying amount
At 31st August 2023
903
4,812
415
6,130
-------
-------
----
-------
At 31st August 2022
620
620
-------
-------
----
-------
5. Investments
Other investments other than loans
£
Cost
At 1st September 2022
143,558
Additions
147,547
Revaluations
( 31,105)
----------
At 31st August 2023
260,000
----------
Impairment
At 1st September 2022 and 31st August 2023
----------
Carrying amount
At 31st August 2023
260,000
----------
At 31st August 2022
143,558
----------
6. Debtors
2023
2022
£
£
Other debtors
1,196
776
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
104,808
88,312
Other creditors
272,337
144,847
----------
----------
377,145
233,159
----------
----------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Kubilius
( 144,097)
( 110,715)
( 254,812)
----------
----------
----------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Kubilius
( 144,097)
( 144,097)
----
----------
----------
The non-interest bearing loan is repayable on demand
10. Going concern
The financial statements have been prepared on a going concern basis which assumes the continued support of the director.