Registered number
SC724397
Kube IT Solutions Ltd
Filleted Accounts
28 February 2025
Kube IT Solutions Ltd
Registered number: SC724397
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Current assets
Debtors 3 85,840 35,840
Cash at bank and in hand 56,686 89,684
142,526 125,524
Creditors: amounts falling due within one year 4 (35,730) (33,824)
Net current assets 106,796 91,700
Net assets 106,796 91,700
Capital and reserves
Called up share capital 100 100
Profit and loss account 106,696 91,600
Shareholders' funds 106,796 91,700
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Manikandan Ramachandran
Director
Approved by the board on 25 March 2025
Kube IT Solutions Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2025 2024
£ £
Trade debtors 15,840 15,840
Other debtors 70,000 20,000
85,840 35,840
4 Creditors: amounts falling due within one year 2025 2024
£ £
Accrued charges 1,620 1,540
Taxation and social security costs 34,110 32,284
35,730 33,824
5 Related party transactions
During the year, a loan advance of £50,000 was made to Kube Lets Pvt Ltd, which has common directorship and shareholding. The loan carries no interest charges and the loan is not repayable upon demand. The balance at the year end was £70,000 (2023: £20,000).
6 Controlling party
The director, Manikandan Ramachandran, and his wife hold a 100% beneficial interest in the share capital of the company.
7 Other information
Kube IT Solutions Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
44 Catelbock Close
Kirkliston
EH29 9FF
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