Company No:
Contents
DIRECTORS | Andrew Michael O'Rourke |
Andrew Robert Prior | |
Cillian Martin Ryan |
REGISTERED OFFICE | 1 Poultry C/O Praxis |
London | |
EC2R 8EJ | |
England | |
United Kingdom |
COMPANY NUMBER | 12407198 (England and Wales) |
CHARTERED ACCOUNTANTS | Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
Note | 2024 | 2023 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Tangible assets | 4 |
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9,058 | 8,438 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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475,884 | 400,620 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 345,380 | 291,824 | ||
Total assets less current liabilities | 354,438 | 300,262 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Cube Consulting Engineers Ltd (registered number:
Andrew Michael O'Rourke
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Cube Consulting Engineers Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Poultry C/O Praxis, London, EC2R 8EJ, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery |
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Office equipment |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
In preparing the financial statements for the year ended 31 January 2024 it was identified that the cash at bank balance had been misreported for the comparative financial year ending 31 January 2023. The error was in respect of duplicated receipts totalling £8,760 that remained unreconciled on the Bank and a historical difference of £900 . The comparatives have been restated to correct the Bank position at 31 January 2023. The net effect of the adjustment reflects a decrease in profit of £8,200 and the comparatives have been restated as follows:
As previously reported | Adjustment | As restated | ||||
Year ended 31 January 2023 | £ | £ | £ | |||
Bank balance | 192,225 | (9,660) | 182,565 | |||
VAT | (35,134) | 1,460 | (33,674) | |||
Turnover | (486,213) | 7,300 | (478,913) | |||
General expenses | (51) | 900 | 849 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 February 2023 |
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Additions |
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At 31 January 2024 |
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Accumulated depreciation | |||||||
At 01 February 2023 |
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Charge for the financial year |
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At 31 January 2024 |
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Net book value | |||||||
At 31 January 2024 |
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At 31 January 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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Included in other creditors is an amount of £25,742.95 owed to the Directors (2023: £10,870.95). The amounts owed to the directors are repayable on demand and do not bear interest.
2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year |
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Charged to the Statement of Income and Retained Earnings | (
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At the end of financial year | (
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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99 | 99 |
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
2024 | 2023 | ||
£ | £ | ||
Unpaid contributions due to the fund (inc. in other creditors) |
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The Company had no material capital commitments at the year ended 31 January 2024.