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Company No: 07227878 (England and Wales)

QUBE AUTOMOTIVE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

QUBE AUTOMOTIVE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

QUBE AUTOMOTIVE LTD

COMPANY INFORMATION

For the financial year ended 31 March 2025
QUBE AUTOMOTIVE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
DIRECTORS S O'Donnell
E A Seymour
M W Seymour
REGISTERED OFFICE 10 Hollingworth Court Turkey Mill
Ashford Road
Maidstone
ME14 5PP
United Kingdom
COMPANY NUMBER 07227878 (England and Wales)
ACCOUNTANT S&W Partners (Thames Valley) Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
QUBE AUTOMOTIVE LTD

BALANCE SHEET

As at 31 March 2025
QUBE AUTOMOTIVE LTD

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Intangible assets 3 13,532 56,058
Tangible assets 4 11,169 8,959
24,701 65,017
Current assets
Debtors 5 258,593 213,451
Cash at bank and in hand 607,710 472,204
866,303 685,655
Creditors: amounts falling due within one year 6 ( 283,344) ( 142,128)
Net current assets 582,959 543,527
Total assets less current liabilities 607,660 608,544
Net assets 607,660 608,544
Capital and reserves
Called-up share capital 7 320 320
Profit and loss account 607,340 608,224
Total shareholders' funds 607,660 608,544

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Qube Automotive Ltd (registered number: 07227878) were approved and authorised for issue by the Board of Directors on 13 May 2025. They were signed on its behalf by:

E A Seymour
Director
QUBE AUTOMOTIVE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
QUBE AUTOMOTIVE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Qube Automotive Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Hollingworth Court Turkey Mill, Ashford Road, Maidstone, ME14 5PP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Qube Automotive Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance
4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

3. Intangible assets

Development costs Total
£ £
Cost
At 01 April 2024 848,627 848,627
At 31 March 2025 848,627 848,627
Accumulated amortisation
At 01 April 2024 792,569 792,569
Charge for the financial year 42,526 42,526
At 31 March 2025 835,095 835,095
Net book value
At 31 March 2025 13,532 13,532
At 31 March 2024 56,058 56,058

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2024 43,234 43,234
Additions 7,451 7,451
At 31 March 2025 50,685 50,685
Accumulated depreciation
At 01 April 2024 34,275 34,275
Charge for the financial year 5,241 5,241
At 31 March 2025 39,516 39,516
Net book value
At 31 March 2025 11,169 11,169
At 31 March 2024 8,959 8,959

5. Debtors

2025 2024
£ £
Trade debtors 241,562 188,904
Other debtors 17,031 24,547
258,593 213,451

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 3,075 18,651
Taxation and social security 177,984 106,441
Other creditors 102,285 17,036
283,344 142,128

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
240 Ordinary A shares of £ 1.00 each 240 240
80 Ordinary B shares of £ 1.00 each 80 80
320 320

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 85,168 39,208
between one and five years 61,541 14,300
146,709 53,508

9. Ultimate controlling party

The parent company of Qube Automotive Ltd is Qubedata (Holdings) Limited whose registered office is 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB.