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REGISTERED NUMBER: 11237164 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

THE CUBE DISABILITY LTD

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Contents of the Financial Statements
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE CUBE DISABILITY LTD

Company Information
for the year ended 30 September 2023







Director: Mr I T Yuill





Secretary: Ms Z Yuill





Registered office: Barn 4 Yew Tree Farm
Upper Harlestone
Northampton
Northamptonshire
NN7 4EL





Registered number: 11237164 (England and Wales)






THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Balance Sheet
30 September 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 1,548,173 1,773,341
Tangible assets 5 474,894 518,477
2,023,067 2,291,818

Current assets
Debtors 6 235,363 57,568
Cash at bank and in hand 2,611 132,350
237,974 189,918
Creditors
Amounts falling due within one year 7 2,154,383 2,163,595
Net current liabilities (1,916,409 ) (1,973,677 )
Total assets less current liabilities 106,658 318,141

Creditors
Amounts falling due after more than one year 8 (74,611 ) -

Provisions for liabilities - (10,906 )
Net assets 32,047 307,235

Capital and reserves
Called up share capital 9 100 100
Retained earnings 31,947 307,135
Shareholders' funds 32,047 307,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Balance Sheet - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





Mr I T Yuill - Director


THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements
for the year ended 30 September 2023


1. Statutory information

The Cube Disability Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


2. Accounting policies - continued

Business combinations and goodwill
Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill.

Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values to the company's interest in the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Not depreciated
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

The residual values, useful lives and depreciation methods of tangible fixed assets are reviewed annually. The director carried out such a review during the year end 30 September 2023, and it was decided to change the depreciation method for computer equipment from 25% on reducing balance to straight line over 3 years. The effect of these revisions has been accounted for prospectively.

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 38 (2022 - 45 ) .

4. Intangible fixed assets
Computer
Goodwill software Totals
£ £ £
Cost
At 1 October 2022 2,211,705 10,000 2,221,705
Disposals - (10,000 ) (10,000 )
At 30 September 2023 2,211,705 - 2,211,705
Amortisation
At 1 October 2022 442,364 6,000 448,364
Amortisation for year 221,168 - 221,168
Eliminated on disposal - (6,000 ) (6,000 )
At 30 September 2023 663,532 - 663,532
Net book value
At 30 September 2023 1,548,173 - 1,548,173
At 30 September 2022 1,769,341 4,000 1,773,341

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


5. Tangible fixed assets
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
Cost
At 1 October 2022 184,698 1,850 37,123
Additions - 850 42,355
Disposals - (1,850 ) -
Reclassification/transfer - 27,331 8,021
At 30 September 2023 184,698 28,181 87,499
Depreciation
At 1 October 2022 - 1,070 19,262
Charge for year - 6,850 12,179
Eliminated on disposal - (1,070 ) -
At 30 September 2023 - 6,850 31,441
Net book value
At 30 September 2023 184,698 21,331 56,058
At 30 September 2022 184,698 780 17,861

Motor Computer
vehicles equipment Totals
£ £ £
Cost
At 1 October 2022 574,357 74,903 872,931
Additions 40,004 3,934 87,143
Disposals (97,128 ) (14,806 ) (113,784 )
Reclassification/transfer - (35,352 ) -
At 30 September 2023 517,233 28,679 846,290
Depreciation
At 1 October 2022 306,335 27,787 354,454
Charge for year 68,587 3,519 91,135
Eliminated on disposal (64,283 ) (8,840 ) (74,193 )
At 30 September 2023 310,639 22,466 371,396
Net book value
At 30 September 2023 206,594 6,213 474,894
At 30 September 2022 268,022 47,116 518,477

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
Cost
At 1 October 2022 128,366
Disposals (40,820 )
At 30 September 2023 87,546
Depreciation
At 1 October 2022 93,594
Charge for year 45,727
Eliminated on disposal (64,283 )
At 30 September 2023 75,038
Net book value
At 30 September 2023 12,508
At 30 September 2022 34,772

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 53,182 33,285
Amounts owed by group undertakings 33,878 -
Other debtors 148,303 24,283
235,363 57,568

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 926 -
Hire purchase contracts 54,868 245,548
Trade creditors 60,552 266,447
Amounts owed to group undertakings 1,515,219 -
Taxation and social security 224,792 243,668
Other creditors 298,026 1,407,932
2,154,383 2,163,595

THE CUBE DISABILITY LTD (REGISTERED NUMBER: 11237164)

Notes to the Financial Statements - continued
for the year ended 30 September 2023


8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Hire purchase contracts 74,611 -

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£ £
Mr I T Yuill
Balance outstanding at start of year - 5,975
Amounts advanced - 99,364
Amounts repaid - (105,339 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.