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Registration number: 09824555

Kubix Media Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Kubix Media Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Kubix Media Limited

(Registration number: 09824555)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

107,362

90,987

Current assets

 

Debtors

6

538,303

322,304

Cash at bank and in hand

 

356,041

21,367

 

894,344

343,671

Creditors: Amounts falling due within one year

7

(391,585)

(285,074)

Net current assets

 

502,759

58,597

Total assets less current liabilities

 

610,121

149,584

Creditors: Amounts falling due after more than one year

7

(20,689)

(40,545)

Provisions for liabilities

(20,585)

(22,747)

Net assets

 

568,847

86,292

Capital and reserves

 

Called up share capital

100

100

Retained earnings

568,747

86,192

Shareholders' funds

 

568,847

86,292

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 January 2025 and signed on its behalf by:
 

.........................................
J D T Brown
Director

 

Kubix Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Bond
180-182 Fazeley Street
Birmingham
B5 5SE

These financial statements were authorised for issue by the Board on 10 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared for the individual entity and are presented in sterling and rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Kubix Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

Fixtures and fittings

25% straight line

Plant and machinery

15% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Kubix Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 27 (2023 - 24).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

34,558

25,714

 

Kubix Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

149,636

41,309

190,945

Additions

20,377

31,000

51,377

Disposals

(444)

-

(444)

At 30 April 2024

169,569

72,309

241,878

Depreciation

At 1 May 2023

98,581

1,377

99,958

Charge for the year

24,746

9,812

34,558

At 30 April 2024

123,327

11,189

134,516

Carrying amount

At 30 April 2024

46,242

61,120

107,362

At 30 April 2023

51,055

39,932

90,987

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

133,757

74,648

Amounts owed by related parties

9

146,368

146,368

Prepayments

 

30,416

9,480

Other debtors

 

227,762

91,808

   

538,303

322,304

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

19,857

19,858

Trade creditors

 

16,999

14,386

Taxation and social security

 

323,157

200,572

Accruals and deferred income

 

4,875

27,860

Other creditors

 

26,697

22,398

 

391,585

285,074

 

Kubix Media Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,832

20,832

Hire purchase contracts

9,857

19,713

20,689

40,545

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Hire purchase contracts

9,857

9,858

19,857

19,858

9

Related party transactions

Summary of transactions with parent

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.
 

Parent and ultimate parent company

The company's ultimate parent is Kubix Media Holdings Limited. Both companies are incorporated in the United Kingdom and have the same registered office.

The ultimate controlling party is the directors, who own 100% of the share capital in Kubix Media Holdings Limited.