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Registered number: 11433103
Cube3 Technologies Ltd
Unaudited Financial Statements
For The Year Ended 5 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11433103
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,508,751 1,755,386
Tangible Assets 5 158,690 199,733
Investments 6 76,003 76,003
5,743,444 2,031,122
CURRENT ASSETS
Debtors 7 831 -
Cash at bank and in hand 17,434 178,325
18,265 178,325
Creditors: Amounts Falling Due Within One Year 8 (131,284 ) (88,672 )
NET CURRENT ASSETS (LIABILITIES) (113,019 ) 89,653
TOTAL ASSETS LESS CURRENT LIABILITIES 5,630,425 2,120,775
PROVISIONS FOR LIABILITIES
Deferred Taxation (39,672 ) (49,933 )
NET ASSETS 5,590,753 2,070,842
CAPITAL AND RESERVES
Called up share capital 9 4 4
Revaluation reserve 10 3,285,048 84,331
Profit and Loss Account 2,305,701 1,986,507
SHAREHOLDERS' FUNDS 5,590,753 2,070,842
Page 1
Page 2
For the year ending 5 April 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 his 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
Mr M Buckingham
Director
31 December 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
Cube3 Technologies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11433103 . The registered office is 2 The Old Estate Yard High Street, East Hendred, Wantage, Oxfordshire, OX12 8JY.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 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 - Other Intangible
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. 
The company receives cryptocurrencies for the provision of blockchain technology solutions. These are held as intangible asset. The initial recognition is at cost, but is revalued at the end of the accounting period.
Other intangible assets are also made up of IP address space. This 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:
Plant & Machinery 25% reducing balance
Computer Equipment 3 year straight line
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.
Page 3
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other Intangible Assets
£
Cost or Valuation
As at 6 April 2023 1,755,386
Additions 856,612
Revaluations 3,200,717
Disposals (302,259 )
As at 5 April 2024 5,510,456
Amortisation
As at 6 April 2023 -
Provided during the period 1,705
As at 5 April 2024 1,705
Net Book Value
As at 5 April 2024 5,508,751
As at 6 April 2023 1,755,386
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 6 April 2023 547,063
Additions 169,480
As at 5 April 2024 716,543
Depreciation
As at 6 April 2023 347,330
Provided during the period 210,523
As at 5 April 2024 557,853
Net Book Value
As at 5 April 2024 158,690
As at 6 April 2023 199,733
Page 4
Page 5
6. Investments
Unlisted
£
Cost
As at 6 April 2023 76,003
As at 5 April 2024 76,003
Provision
As at 6 April 2023 -
As at 5 April 2024 -
Net Book Value
As at 5 April 2024 76,003
As at 6 April 2023 76,003
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 831 -
831 -
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 28,199 -
Corporation tax 94,660 75,223
Other creditors 3,353 1,801
Accruals and deferred income 2,200 2,115
Director's loan account 2,872 9,533
131,284 88,672
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Reserves
Revaluation Reserve
£
As at 6 April 2023 84,331
Surplus on revaluation 3,200,717
As at 5 April 2024 3,285,048
Page 5