Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07271501 2023-04-01 2024-03-31 07271501 2022-04-01 2023-03-31 07271501 2024-03-31 07271501 2023-03-31 07271501 c:Director1 2023-04-01 2024-03-31 07271501 d:FurnitureFittings 2024-03-31 07271501 d:FurnitureFittings 2023-03-31 07271501 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07271501 d:OfficeEquipment 2023-04-01 2024-03-31 07271501 d:ComputerEquipment 2023-04-01 2024-03-31 07271501 d:ComputerEquipment 2024-03-31 07271501 d:ComputerEquipment 2023-03-31 07271501 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07271501 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07271501 d:Goodwill 2023-04-01 2024-03-31 07271501 d:Goodwill 2024-03-31 07271501 d:Goodwill 2023-03-31 07271501 d:CurrentFinancialInstruments 2024-03-31 07271501 d:CurrentFinancialInstruments 2023-03-31 07271501 d:Non-currentFinancialInstruments 2024-03-31 07271501 d:Non-currentFinancialInstruments 2023-03-31 07271501 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07271501 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07271501 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07271501 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07271501 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 07271501 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07271501 d:ShareCapital 2024-03-31 07271501 d:ShareCapital 2023-03-31 07271501 d:RetainedEarningsAccumulatedLosses 2024-03-31 07271501 d:RetainedEarningsAccumulatedLosses 2023-03-31 07271501 c:FRS102 2023-04-01 2024-03-31 07271501 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07271501 c:FullAccounts 2023-04-01 2024-03-31 07271501 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07271501 2 2023-04-01 2024-03-31 07271501 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 07271501 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07271501









KUBIE GOLD ASSOCIATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KUBIE GOLD ASSOCIATES LIMITED
REGISTERED NUMBER: 07271501

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
151,200
176,400

Tangible assets
 5 
8,402
9,885

  
159,602
186,285

Current assets
  

Debtors: amounts falling due within one year
 6 
1,315
1,083

Cash at bank and in hand
 7 
1,073
5,131

  
2,388
6,214

Creditors: amounts falling due within one year
 8 
(51,189)
(62,853)

Net current liabilities
  
 
 
(48,801)
 
 
(56,639)

Total assets less current liabilities
  
110,801
129,646

Creditors: amounts falling due after more than one year
 9 
(27,815)
(38,462)

  

Net assets
  
82,986
91,184


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
81,986
90,184

  
82,986
91,184


Page 1

 
KUBIE GOLD ASSOCIATES LIMITED
REGISTERED NUMBER: 07271501
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

................................................
K L Gold
Director

Date: 11 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Kubie Gold Associates Limited is a private limited by shares. the company is incorporated in England & Wales and its trading address is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 07271501.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Pensions

                 Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25% Straight line
Computer equipment
-
15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
189,667
171,814

Social security costs
13,983
12,398

Cost of defined contribution scheme
3,029
3,416

206,679
187,628


The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
504,000



At 31 March 2024

504,000



Amortisation


At 1 April 2023
327,600


Charge for the year on owned assets
25,200



At 31 March 2024

352,800



Net book value



At 31 March 2024
151,200



At 31 March 2023
176,400



Page 7

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office Equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
9,953
15,484
25,437



At 31 March 2024

9,953
15,484
25,437



Depreciation


At 1 April 2023
9,953
5,599
15,552


Charge for the year on owned assets
-
1,483
1,483



At 31 March 2024

9,953
7,082
17,035



Net book value



At 31 March 2024
-
8,402
8,402



At 31 March 2023
-
9,885
9,885


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,315
1,083

1,315
1,083



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,073
5,131

Less: bank overdrafts
(1,507)
-

(434)
5,131


Page 8

 
KUBIE GOLD ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,507
-

Corporation tax
31,273
17,626

Other taxation and social security
11,020
15,628

Other creditors
7,389
29,599

51,189
62,853



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
27,815
38,462

27,815
38,462



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
27,816
38,464

27,816
38,464

27,816
38,464



11.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separatly from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,029 (2023: £3,416).

 
Page 9