Cube FM Limited Filleted Accounts Cover
Cube FM Limited
Company No. 12526495
Information for Filing with The Registrar
30 April 2024
Cube FM Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 30 April 2024.
Principal activities
The principal activity of the company during the year under review was providing maintenance services.
Directors
The Directors who served at any time during the year were as follows:
Gareth Kerry
Mark Oakes
Michael Wagstaff
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Michael Wagstaff
Director
09 October 2024
Cube FM Limited Balance Sheet Registrar
at
30 April 2024
Company No.
12526495
Notes
2024
2023
£
£
Fixed assets
Intangible assets
4
61,99071,650
Tangible assets
5
33,49529,375
95,485101,025
Current assets
Stocks
6
1,2002,500
Debtors
7
268,796220,000
Cash at bank and in hand
41,8354,172
311,831226,672
Creditors: Amount falling due within one year
8
(321,678)
(306,080)
Net current liabilities
(9,847)
(79,408)
Total assets less current liabilities
85,63821,617
Creditors: Amounts falling due after more than one year
9
(23,290)
(13,397)
Provisions for liabilities
Deferred taxation
(8,400)
(2,450)
Net assets
53,9485,770
Capital and reserves
Called up share capital
200200
Profit and loss account
12
53,7485,570
Total equity
53,9485,770
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 April 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 09 October 2024 and signed on its behalf by:
Michael Wagstaff
Director
09 October 2024
Cube FM Limited Notes to the Accounts Registrar
for the year ended 30 April 2024
1
General information
Cube FM Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12526495
Its registered office is:
Unit C17 Kestrel Business Ce
Colwick Industrial Estate
Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director are not aware of any material threats to the ability of the company to continue to trade for the foreseeable future.
2
Accounting policies
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the year end.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Freehold buildings
20% Straight line
Motor vehicles
25% Reducing balance
Furniture, fittings and equipment
20% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Defined contribution pensions
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 payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Exemption from disclosure of related party transactions
The company has taken advantage of the exemption within the paragraph 33 of FRS102 and on the basis of that exemption transactions with companies in the same wholly owned group of companies have not been disclosed.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
1412
4
Intangible fixed assets
Goodwill
Total
£
£
Cost
At 1 May 2023
96,60896,608
At 30 April 2024
96,60896,608
Amortisation and impairment
At 1 May 2023
24,95824,958
Charge for the year
9,6609,660
At 30 April 2024
34,61834,618
Net book values
At 30 April 2024
61,99061,990
At 30 April 2023
71,65071,650
Goodwill
5
Tangible fixed assets
Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 May 2023
3,65226,78012,29142,723
Additions
-14,1951,09815,293
Disposals
-
(6,500)
-
(6,500)
At 30 April 2024
3,65234,47513,38951,516
Depreciation
At 1 May 2023
1,8868,1913,27113,348
Charge for the year
7317,6252,56710,923
Disposals
-
(6,250)
-
(6,250)
At 30 April 2024
2,6179,5665,83818,021
Net book values
At 30 April 2024
1,03524,9097,55133,495
At 30 April 2023
1,766
18,589
9,020
29,375
6
Stocks
2024
2023
£
£
Raw materials and consumables
1,2002,500
1,2002,500
7
Debtors
2024
2023
£
£
Trade debtors
213,255150,814
Amounts owed by group undertakings
250-
Loans to directors
39,82647,326
Other debtors
3,485200
Prepayments and accrued income
11,98021,660
268,796220,000
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
39163
Other loans
102,99658,930
Obligations under finance lease and hire purchase contracts
7,1973,599
Trade creditors
94,855131,342
Taxes and social security
109,727
105,904
Other creditors
1,7291,479
Accruals and deferred income
4,7834,763
321,678306,080
9
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Obligations under finance lease and hire purchase contracts
23,29013,397
23,29013,397
Liabilities repayable in more than five years after the balance sheet date
The factoring loan is secured by a fixed and floating charge over the book debts of the company and over its other assets
10
Creditors: secured liabilities
2024
2023
£
£
The aggregate amount of secured liabilities included within creditors
126,28675,926
11
Share Capital
Share Capital consists of two hundred Ordinary Shares of £1 each, which are all fully paid.
12
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
13
Related party transactions
The company rents premises from the pension scheme of the directors, M Wagstaff.
A rental of £5,500 (2021 £nil) was payable for the year.
During the year loans to the directors subsisted as follows:
2024
2023
£
£
M Wagstaff
23,326
20,826
M Oakes
12,000
9,500
G Kerry
12,000
9,500
The balances are free of interest, unsecured and are repayable upon demand.
14
Controlling party
The company is a subsidiary undertaking of CFM Developments Limited, a company registered in England and Wales.
CFM Developments Limited is therefore the immediate controlling party.
There is no individual controlling party.
The adress of CFM Developments Limited is as shown on page 1.
The ultimate controlling party is the board of directors of CFM Developments Limited.
15
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
69,500
58,500
69,500
58,500
Dividends by type:
Equity dividends
69,50058,500
69,500
58,500
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