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
Gocube Technology Limited
Company Information
for the year ended 31 January 2024
Secretary
Stephanie Foster
Company Number
11144853 (England and Wales)
Registered Office
66 Malkin Close
North West
Ipswich
IP1 6FE
UK
Gocube Technology Limited
Statement of financial position
as at 31 January 2024
Intangible assets
83,654
98,988
Cash at bank and in hand
(982)
204
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)
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
Gocube Technology Limited
Notes to the Accounts
for the year ended 31 January 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Gocube Technology Limited
Notes to the Accounts
for the year ended 31 January 2024
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
At 1 February 2023
153,341
At 31 January 2024
153,341
Charge for the year
15,334
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
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
At 31 January 2024
-
204
204
At 31 January 2023
57
441
498
Gocube Technology Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,121
7,117
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
87,607
30,129
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).