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REGISTERED NUMBER: 12418019 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Qube.Direct Ltd

Qube.Direct Ltd (Registered number: 12418019)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Qube.Direct Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: L Manson





REGISTERED OFFICE: Qube.Direct
Melbury Business Park
SHAFTESBURY
Dorset
SP7 0AF





REGISTERED NUMBER: 12418019 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Qube.Direct Ltd (Registered number: 12418019)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 2,862,500 2,698,902
Cash at bank 203,678 55,090
3,066,178 2,753,992
CREDITORS
Amounts falling due within one year 5 3,488,508 3,151,405
NET CURRENT LIABILITIES (422,330 ) (397,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(422,330

)

(397,413

)

CREDITORS
Amounts falling due after more than one
year

6

224,197

341,633
NET LIABILITIES (646,527 ) (739,046 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (646,627 ) (739,146 )
SHAREHOLDERS' FUNDS (646,527 ) (739,046 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:




L Manson - Director


Qube.Direct Ltd (Registered number: 12418019)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Qube.Direct 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.

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.

There were no material departures from that standard.

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 account.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However the validity of the going concern basis is dependent upon the support of the creditors and the director. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets as current assets and long term liabilities as current liabilities..

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

Income recognition
Income is recognised when the conditions contained within a contract for services have been met.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Qube.Direct Ltd (Registered number: 12418019)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 375,679 325,563
Amounts owed by associates 367,289 424,787
Other debtors 57,817 53,477
Directors' current accounts 21,710 11,327
VAT 2,950 -
Prepayments and accrued income 2,037,055 1,883,748
2,862,500 2,698,902

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 377,027 234,527
Trade creditors 107,963 388,131
Amounts owed to associates 8,950 -
Taxation and social security 3,504 13,874
Other creditors - 16,571
Accruals and deferred income 2,981,064 2,488,302
3,488,508 3,151,405

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 20,923 32,095
Other loans - 1-2 years 113,341 106,264
Other loans - 2-5 years 89,933 203,274
224,197 341,633

The company has two loans.

The bank loan of £50,000 is repayable over 6 years at a margin of 2.5% per annum. The loan is due to mature on 01 November 2026.

A further loan of £525,000 is repayable over 4.5 years at a margin of 6.5% per annum. The loan is due to mature on 19 October 2026.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

Qube.Direct Ltd (Registered number: 12418019)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
L Manson
Balance outstanding at start of year 11,327 1,610
Amounts advanced 10,383 9,717
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,710 11,327

9. FIRST YEAR ADOPTION

1.02.22 31.01.23

Equity as reported under UK GAAP (243,895 ) (739,046 )

Equity as restated under FRS102 (243,895 ) (739,046 )