Company Registration No. 07246310 (England and Wales)
Cube Construction (Southern) Limited
Unaudited accounts
for the year ended 31 December 2023
Cube Construction (Southern) Limited
Unaudited accounts
Contents
Cube Construction (Southern) Limited
Company Information
for the year ended 31 December 2023
Company Number
07246310 (England and Wales)
Registered Office
26 Kings Parade Avenue
Bristol
BS8 2RE
Accountants
Evans Entwistle
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Cube Construction (Southern) Limited
for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cube Construction (Southern) Limited for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
5 September 2024
Cube Construction (Southern) Limited
Statement of financial position
as at 31 December 2023
Tangible assets
50,450
63,549
Inventories
1,040,943
749,109
Debtors
1,588,621
1,024,980
Cash at bank and in hand
34,821
222,768
Creditors: amounts falling due within one year
(1,747,632)
(1,244,320)
Net current assets
916,753
752,537
Total assets less current liabilities
967,203
816,086
Creditors: amounts falling due after more than one year
(191,089)
-
Net assets
776,114
816,086
Called up share capital
1,000
1,000
Profit and loss account
775,114
815,086
Shareholders' funds
776,114
816,086
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
A Spiller
Director
Company Registration No. 07246310
Cube Construction (Southern) Limited
Notes to the Accounts
for the year ended 31 December 2023
Cube Construction (Southern) Limited is a private company, limited by shares, registered in England and Wales, registration number 07246310. The registered office is 26 Kings Parade Avenue, Bristol, BS8 2RE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
5 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Cube Construction (Southern) Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2023
33,013
277,889
310,902
Additions
2,865
21,950
24,815
Disposals
-
(41,568)
(41,568)
At 31 December 2023
35,878
258,271
294,149
At 1 January 2023
27,050
220,303
247,353
Charge for the year
3,292
19,689
22,981
On disposals
-
(26,635)
(26,635)
At 31 December 2023
30,342
213,357
243,699
At 31 December 2023
5,536
44,914
50,450
At 31 December 2022
5,963
57,586
63,549
Work in progress
1,040,943
749,109
Work in progress represents costs incurred on projects that have yet to be invoiced, and in the opinion of the directors, no sales invoices can be raised in respect of works undertaken to date.
Amounts falling due within one year
Trade debtors
356,035
235,754
Amounts due from group undertakings etc.
715,062
709,683
Accrued income and prepayments
13,405
16,897
Other debtors
62,686
62,646
Amounts falling due after more than one year
Accrued income and prepayments
441,433
-
Cube Construction (Southern) Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
136,453
-
Trade creditors
1,002,736
559,683
Amounts owed to group undertakings and other participating interests
64,189
-
Taxes and social security
306,296
214,483
Other creditors
18,937
328,948
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
10
Transactions with related parties
At the year end the company was owed the following from group companies:
- the company was due £273,934 (2022: £285,562) from Severnview Commercial Properties Ltd
- the company was due £78,657 (2022: 78,653) from 5 & 7 Robertson Road Limited
- the company was due £362,471 (2022: £345,468) from 62 High Street Ltd
At the year end the company owed the following to group companies:
- the company owed £64,189 (2022: £1,068) to Spiller Commercial Holdings Ltd
No interest was charged on these balances and there are no fixed repayment terms.
Spiller Commercial Holdings Ltd is the parent company. Alan Spiller, who owns 100% of Spiller Commercial Holdings Ltd, is the ultimate beneficial owner.
12
Average number of employees
During the year the average number of employees was 10 (2022: 10).