Cubed Resourcing Ltd - Filleted accounts

Registered number

08291746

Cubed Resourcing Ltd

Filleted Accounts

31 December 2024

Cubed Resourcing Ltd
Registered number:		08291746
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		7,628			32,718

Current assets
Debtors	4	313,182			672,391
Cash at bank and in hand		76,686			544,524
		389,868			1,216,915

Creditors: amounts falling due within one year	5	(744,228)			(1,084,595)

Net current (liabilities)/assets			(354,360)			132,320

Total assets less current liabilities			(346,732)			165,038

Creditors: amounts falling due after more than one year	6		(50,026)			(100,125)



Net (liabilities)/assets			(396,758)			64,913

Capital and reserves
Called up share capital			100			100
Profit and loss account			(396,858)			64,813

Shareholders' funds			(396,758)			64,913

The directors are 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 directors acknowledge their 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.




Mr Steven Street
Director
Approved by the board on 28 August 2025

Cubed Resourcing Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office equipment			over 3 years
	Plant and machinery			over 4 years

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					159		159


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	96,991		15,885		38,950		151,826
	Additions	1,032		1,918		-		2,950
	Disposals	-		-		(38,950)		(38,950)
	At 31 December 2024	98,023		17,803		-		115,826

	Depreciation
	At 1 January 2024	86,600		11,410		21,098		119,108
	Charge for the year	8,089		2,099		-		10,188
	On disposals	-		-		(21,098)		(21,098)
	At 31 December 2024	94,689		13,509		-		108,198

	Net book value
	At 31 December 2024	3,334		4,294		-		7,628
	At 31 December 2023	10,391		4,475		17,852		32,718


4	Debtors					2024		2023
£							£

	Trade debtors					302,439		657,717
	Other debtors					10,743		14,674
						313,182		672,391


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					74,611		50,000
	Obligations under finance lease and hire purchase contracts					-		8,816
	Trade creditors					20,281		27,633
	Taxation and social security costs					321,282		642,144
	Other creditors					328,054		356,002
						744,228		1,084,595


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					50,026		100,125


7	Controlling party

	The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.


8	Other information

	Cubed Resourcing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Salts Mill
	Victoria Road
	Saltaire
	Shipley
	BD18 3LF

9	Going Concern

	The financial statements have been prepared on the going concern basis on the grounds that the directors shareholders will continue to provide sufficient finance until the company becomes profitable.