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Registered number: 12196404
Clever Cubs Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Green Oak Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12196404
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 16,400 19,680
Tangible Assets 5 116,448 158,216
132,848 177,896
CURRENT ASSETS
Debtors 6 176,272 7,609
Cash at bank and in hand 147,415 119,294
323,687 126,903
Creditors: Amounts Falling Due Within One Year 7 (132,213 ) (80,897 )
NET CURRENT ASSETS (LIABILITIES) 191,474 46,006
TOTAL ASSETS LESS CURRENT LIABILITIES 324,322 223,902
Creditors: Amounts Falling Due After More Than One Year 8 (143,482 ) (184,319 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,112 ) (39,554 )
NET ASSETS 151,728 29
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 151,727 28
SHAREHOLDERS' FUNDS 151,728 29
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jenine Benning
Director
15/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Clever Cubs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12196404 . The registered office is 17 Cox Green Road, Maidenhead, SL6 3EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 15% SLM
Computer Equipment 25% SLM
2.5. 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 statement of comprehensive income 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 timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 31)
28 31
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 32,800
As at 30 September 2024 32,800
Amortisation
As at 1 October 2023 13,120
Provided during the period 3,280
As at 30 September 2024 16,400
Net Book Value
As at 30 September 2024 16,400
As at 1 October 2023 19,680
5. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 October 2023 273,941 26,434 300,375
As at 30 September 2024 273,941 26,434 300,375
Depreciation
As at 1 October 2023 118,102 24,057 142,159
Provided during the period 41,091 677 41,768
As at 30 September 2024 159,193 24,734 183,927
Net Book Value
As at 30 September 2024 114,748 1,700 116,448
As at 1 October 2023 155,839 2,377 158,216
6. Debtors
2024 2023
£ £
Due within one year
S455 tax 1,918 1,920
Creative Cubs 174,354 -
Director's loan account - 5,689
176,272 7,609
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,435
Other loans 31,222 31,222
Corporation tax 85,758 31,612
Other taxes and social security - 4,511
Amex Credit Card 3,051 1,540
Pension 1,922 1,577
Director's loan account 260 -
132,213 80,897
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,186 17,800
Other loans 135,296 166,519
143,482 184,319
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5