Registered number
03605723
CUBEMATCH LIMITED
Filleted Accounts
31 December 2023
CUBEMATCH LIMITED
Registered number: 03605723
Balance Sheet
as at 31 December 2023
Notes 31/12/23 31/3/23
£ £
Fixed assets
Tangible assets 3 627 791
Investments 4 206,274 671,572
206,901 672,363
Current assets
Debtors 5 1,302,036 1,042,689
Cash at bank and in hand 3,558,910 3,378,818
4,860,946 4,421,507
Creditors: amounts falling due within one year 6 (3,575,781) (3,286,054)
Net current assets 1,285,165 1,135,453
Total assets less current liabilities 1,492,066 1,807,816
Creditors: amounts falling due after more than one year 7 (1,804) (429,058)
Net assets 1,490,262 1,378,758
Capital and reserves
Called up share capital 456 346
Share premium 460,669 17,149
Capital redemption reserve (510,272) (510,272)
Profit and loss account 1,539,409 1,871,535
Shareholders' funds 1,490,262 1,378,758
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jacob Koshy Kalaparampil
Director
Approved by the board on 8 August 2024
CUBEMATCH LIMITED
Notes to the Accounts
for the period from 1 April 2023 to 31 December 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
During the financial year the company sold the subsidiary company for a loss of £465,298
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 31/12/23 31/3/23
Number Number
Average number of persons employed by the company 15 11
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 13,397
Additions 940
At 31 December 2023 14,337
Depreciation
At 1 April 2023 12,606
Charge for the period 1,104
At 31 December 2023 13,710
Net book value
At 31 December 2023 627
At 31 March 2023 791
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 April 2023 465,298 206,274 671,572
Disposals (465,298) - (465,298)
At 31 December 2023 - 206,274 206,274
5 Debtors 31/12/23 31/3/23
£ £
Trade debtors 1,287,697 300,749
Accrued income and prepayments - 2,602
Other debtors 14,339 739,338
1,302,036 1,042,689
6 Creditors: amounts falling due within one year 31/12/23 31/3/23
£ £
Bank loans and overdrafts 12,212 10,771
Deferred income 2,981,952 2,939,332
Accruals 5,200 5,200
Trade creditors 246,401 291,272
Taxation and social security costs 330,016 20,830
Other creditors - 18,649
3,575,781 3,286,054
7 Creditors: amounts falling due after one year 31/12/23 31/3/23
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,804 429,058
8 Contingent asset
A contingent asset brought forward from Barclays Bank was received and remaining declared into the P&L
9 Other information
CUBEMATCH LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
37 Saint Davids Square
London
E14 3WA
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