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Registration number: 12015290

Thirty Cubed Property Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Thirty Cubed Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Thirty Cubed Property Ltd

Company Information

Directors

Mrs Sonia Ann Urie

Mr James Robert Urie

Registered office

33 Redshots Close
Marlow
England
SL7 3LW

Accountants

Property Tax Advice Ltd
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Thirty Cubed Property Ltd

(Registration number: 12015290)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,034

1,551

Investment property

6

770,000

755,000

 

771,034

756,551

Current assets

 

Debtors

7

3,455

4,526

Cash at bank and in hand

 

22,283

11,834

 

25,738

16,360

Creditors: Amounts falling due within one year

8

(4,712)

(3,704)

Net current assets

 

21,026

12,656

Total assets less current liabilities

 

792,060

769,207

Creditors: Amounts falling due after more than one year

8

(720,268)

(719,439)

Provisions for liabilities

(12,736)

(9,885)

Net assets

 

59,056

39,883

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

54,294

42,144

Retained earnings

4,662

(2,361)

Shareholders' funds

 

59,056

39,883

For the financial year ending 31 May 2024 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.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

 

Thirty Cubed Property Ltd

(Registration number: 12015290)
Balance Sheet as at 31 May 2024 (continued)

.........................................
Mrs Sonia Ann Urie
Director

.........................................
Mr James Robert Urie
Director

 

Thirty Cubed Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
33 Redshots Close
Marlow
England
SL7 3LW

These financial statements were authorised for issue by the Board on 6 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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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:

 

Thirty Cubed Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

517

516

 

Thirty Cubed Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

2,068

2,068

At 31 May 2024

2,068

2,068

Depreciation

At 1 June 2023

517

517

Charge for the year

517

517

At 31 May 2024

1,034

1,034

Carrying amount

At 31 May 2024

1,034

1,034

At 31 May 2023

1,551

1,551

6

Investment properties

2024
£

At 1 June

755,000

Fair value adjustments

15,000

At 31 May

770,000

The fair value of the property at 31st May 2024 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £770,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

2024
£

2023
£

Other debtors

2,169

2,168

Prepayments

1,286

2,358

3,455

4,526

 

Thirty Cubed Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

222

215

Taxation and social security

1,001

-

Accruals and deferred income

1,320

1,320

Other creditors

2,169

2,169

4,712

3,704

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

720,268

719,439

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

720,268

719,439