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Registration number: 07498832

Cube 3 Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Cube 3 Construction Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Cube 3 Construction Limited

(Registration number: 07498832)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

287,921

125,033

Current assets

 

Debtors

5

3,530,586

629,618

Cash at bank and in hand

 

1,913,252

322,566

 

5,443,838

952,184

Creditors: Amounts falling due within one year

6

(4,958,082)

(412,117)

Net current assets

 

485,756

540,067

Total assets less current liabilities

 

773,677

665,100

Provisions for liabilities

(51,017)

(23,562)

Net assets

 

722,660

641,538

Capital and reserves

 

Called up share capital

68

68

Capital redemption reserve

34

34

Retained earnings

722,558

641,436

Shareholders' funds

 

722,660

641,538

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
D R Coombe
Director

.........................................
A K Quirke
Director

 
     
 

Cube 3 Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Lancaster Approach
North Killingholme
Grimsby
N E Lincolnshire
DN40 3JZ

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Cube 3 Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Fixtures and fittings

25% straight line basis

Motor vehicles

25% straight line basis

Office equipment

25% straight line basis

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company contributes to the directors' personal pension schemes and to a group pension plan for its employees. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 21 (2022 - 16).

 

Cube 3 Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

7,745

44,487

8,253

299,870

360,355

Additions

335

40,216

22,055

209,773

272,379

Disposals

-

-

(595)

(111,639)

(112,234)

At 31 December 2023

8,080

84,703

29,713

398,004

520,500

Depreciation

At 1 January 2023

7,043

27,927

6,188

194,161

235,319

Charge for the year

462

16,282

4,222

77,182

98,148

Eliminated on disposal

-

-

(595)

(100,293)

(100,888)

At 31 December 2023

7,505

44,209

9,815

171,050

232,579

Carrying amount

At 31 December 2023

575

40,494

19,898

226,954

287,921

At 31 December 2022

702

16,560

2,064

105,707

125,033

5

Debtors

Current

2023
£

2022
£

Trade debtors

3,195,475

510,002

Prepayments

8,232

1,713

Other debtors

326,879

117,903

 

3,530,586

629,618

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,424,559

241,681

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

7

966,178

-

Taxation and social security

 

1,537,330

108,117

Accruals and deferred income

 

994,847

56,869

Other creditors

 

35,168

5,450

 

4,958,082

412,117

 

Cube 3 Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Related party transactions

The company has taken advantage of the exemption in FRS102 from disclosing transactions with other members of the group.

8

Parent and ultimate parent undertaking

The Company's immediate parent is Cube 3 Construction Holdings Limited, incorporated in England.