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Company Registration No. 11144853 (England and Wales)
Gocube Technology Limited Unaudited accounts for the year ended 31 January 2024
Gocube Technology Limited Unaudited accounts Contents
Page
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Gocube Technology Limited Company Information for the year ended 31 January 2024
Director
Israel Foster
Secretary
Stephanie Foster
Company Number
11144853 (England and Wales)
Registered Office
66 Malkin Close North West Ipswich IP1 6FE UK
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Gocube Technology Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
83,654 
98,988 
Tangible assets
204 
498 
83,858 
99,486 
Current assets
Debtors
843 
8,801 
Cash at bank and in hand
(982)
204 
(139)
9,005 
Creditors: amounts falling due within one year
(19,239)
(18,044)
Net current liabilities
(19,378)
(9,039)
Total assets less current liabilities
64,480 
90,447 
Creditors: amounts falling due after more than one year
(126,057)
(138,802)
Net liabilities
(61,577)
(48,355)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(61,578)
(48,356)
Shareholders' funds
(61,577)
(48,355)
For the year ending 31 January 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 31 January 2025 and were signed on its behalf by
Israel Foster Director Company Registration No. 11144853
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Gocube Technology Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Gocube Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 11144853. The registered office is 66 Malkin Close, North West , Ipswich , IP1 6FE, UK.
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:
Fixtures & fittings
33% straight line depreciation
Computer equipment
33% straight line depreciation
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Gocube Technology Limited Notes to the Accounts for the year ended 31 January 2024
Going concern
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. However, the directors are currently assessing strategic options for the company, including the potential sale of the business or, alternatively, liquidation. As part of this assessment, the directors have reviewed the company’s financial position, cash flow forecasts, and available funding. Whilst no final decision has been made at the date of approving these financial statements, the directors recognise that there is a material uncertainty regarding the company’s ability to continue as a going concern should the sale or liquidation proceed. In the event that the company is sold, the financial statements would be adjusted to reflect the fair value of assets and liabilities at the date of sale. Should the company be liquidated, the financial statements would need to be prepared on a break-up basis, with assets stated at their realisable values and liabilities at their settlement amounts. Notwithstanding these considerations, the directors believe it remains appropriate to prepare the financial statements on a going concern basis at this time, as they are actively pursuing options that would enable the company to meet its obligations and continue operations. However, the outcome of these strategic options remains uncertain, and the financial statements do not include any adjustments that would result from a sale or liquidation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2023
153,341 
At 31 January 2024
153,341 
Amortisation
At 1 February 2023
54,353 
Charge for the year
15,334 
At 31 January 2024
69,687 
Net book value
At 31 January 2024
83,654 
At 31 January 2023
98,988 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
1,421 
4,283 
5,704 
At 31 January 2024
1,421 
4,283 
5,704 
Depreciation
At 1 February 2023
1,364 
3,842 
5,206 
Charge for the year
57 
237 
294 
At 31 January 2024
1,421 
4,079 
5,500 
Net book value
At 31 January 2024
- 
204 
204 
At 31 January 2023
57 
441 
498 
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Gocube Technology Limited Notes to the Accounts for the year ended 31 January 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
5,290 
Other debtors
843 
3,511 
843 
8,801 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
18,118 
9,122 
Trade creditors
1,121 
7,117 
Other creditors
- 
1,805 
19,239 
18,044 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,501 
23,291 
Loans from directors
87,607 
30,129 
Accruals
14,949 
85,382 
126,057 
138,802 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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