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Company Registration No. 12844119 (England and Wales)
Cube Commerce Limited Unaudited accounts for the year ended 31 August 2024
Cube Commerce Limited Unaudited accounts Contents
Page
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Cube Commerce Limited Company Information for the year ended 31 August 2024
Director
Mr S M Gleeson
Company Number
12844119 (England and Wales)
Registered Office
2 Exeter Street Cottingham HU16 4LU United Kingdom
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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Cube Commerce Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
166 
331 
Current assets
Inventories
1,500 
3,049 
Debtors
- 
166 
Cash at bank and in hand
13,725 
13,905 
15,225 
17,120 
Creditors: amounts falling due within one year
(13,183)
(17,203)
Net current assets/(liabilities)
2,042 
(83)
Total assets less current liabilities
2,208 
248 
Provisions for liabilities
Deferred tax
(31)
- 
Net assets
2,177 
248 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
2,176 
247 
Shareholders' funds
2,177 
248 
For the year ending 31 August 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 January 2025 and were signed on its behalf by
Mr S M Gleeson Director Company Registration No. 12844119
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Cube Commerce Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Cube Commerce Limited is a private company, limited by shares, registered in England and Wales, registration number 12844119. The registered office is 2 Exeter Street, Cottingham, HU16 4LU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Cube Commerce Limited Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 September 2023
661 
At 31 August 2024
661 
Depreciation
At 1 September 2023
330 
Charge for the year
165 
At 31 August 2024
495 
Net book value
At 31 August 2024
166 
At 31 August 2023
331 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
123 
Accrued income and prepayments
- 
43 
- 
166 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,547 
1,223 
Loans from directors
11,336 
15,680 
Accruals
300 
300 
13,183 
17,203 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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