0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06480885 2023-01-01 2023-12-31 06480885 2023-12-31 06480885 2022-12-31 06480885 2022-01-01 2022-12-31 06480885 2022-12-31 06480885 2021-12-31 06480885 bus:Director3 2023-01-01 2023-12-31 06480885 core:WithinOneYear 2023-12-31 06480885 core:WithinOneYear 2022-12-31 06480885 bus:SmallEntities 2023-01-01 2023-12-31 06480885 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06480885 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06480885 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 06480885 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 06480885
Qubit Management Company Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 December 2023
Qubit Management Company Limited
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
5
500
3,476
Cash at bank and in hand
6,055
3,729
-------
-------
6,555
7,205
Creditors: amounts falling due within one year
6
6,555
7,205
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 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their 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 13 September 2024 , and are signed on behalf of the board by:
Mr D M R Howell
Director
Company registration number: 06480885
Qubit Management Company Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, Bedfordshire, MK40 2NR.
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.
Revenue recognition
Turnover represents service charges recovered from occupiers of the units on the office park at Northampton.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.
4. Company limited by guarantee
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
5. Debtors
2023
2022
£
£
Trade debtors
625
Other debtors
500
2,851
----
-------
500
3,476
----
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
601
2,879
Social security and other taxes
309
110
Other creditors
5,645
4,216
-------
-------
6,555
7,205
-------
-------