Cubana (Waterloo) Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03471137

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		476,134		515,571

			476,134		515,571
CURRENT ASSETS
Stocks	5	23,955		31,991
Debtors	6	1,074,089		1,026,042
Cash at bank and in hand		2,000		2,000

		1,100,044		1,060,033
Creditors: Amounts Falling Due Within One Year	7	(426,881 )		(508,309 )

NET CURRENT ASSETS (LIABILITIES)			673,163		551,724

TOTAL ASSETS LESS CURRENT LIABILITIES			1,149,297		1,067,295

Creditors: Amounts Falling Due After More Than One Year	8		(243,934 )		(87,884 )

NET ASSETS			905,363		979,411

CAPITAL AND RESERVES
Called up share capital	9		454		454
Share premium account			612,686		612,686
Profit and Loss Account			292,223		366,271

SHAREHOLDERS' FUNDS			905,363		979,411

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Cubana (Waterloo) Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Phillip Oppenheim

Director

17/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Cubana (Waterloo) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03471137 . The registered office is 48 Lower Marsh, London, SE1 7RG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	Straight Line 5%
Leasehold	Straight line 5%
Plant & Machinery	Reducing balance 12.5%
Motor Vehicles	Straight Line 25%
Fixtures & Fittings	Ruducing balance 12.5%
Computer Equipment	Straight line 50%

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Cubana (Waterloo) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 29 (2023: 39)

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 January 2024	3,073	829,507	318,519	5,300
Additions	-	3,823	6,376	-

As at 31 December 2024	3,073	833,330	324,895	5,300

Depreciation
As at 1 January 2024	320	398,218	238,845	5,300
Provided during the period	154	39,737	8,236	-

As at 31 December 2024	474	437,955	247,081	5,300

Net Book Value
As at 31 December 2024	2,599	395,375	77,814	-

As at 1 January 2024	2,753	431,289	79,674	-


	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	709	29,075	1,186,183
Additions	58	-	10,257

As at 31 December 2024	767	29,075	1,196,440

Depreciation
As at 1 January 2024	266	27,663	670,612
Provided during the period	41	1,526	49,694

As at 31 December 2024	307	29,189	720,306

Net Book Value
As at 31 December 2024	460	(114 )	476,134

As at 1 January 2024	443	1,412	515,571

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Cubana (Waterloo) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	23,955	31,991

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	2,490	3,065
Prepayments and accrued income	10,915	10,128
Other debtors	118,363	70,528
Amounts owed by group undertakings	942,321	942,321

	1,074,089	1,026,042

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	121,793	144,405
Bank loans and overdrafts	34,568	29,891
Corporation tax	13,740	20,919
Other taxes and social security	89,820	42,156
VAT	100,787	87,149
Net wages	60,119	53,770
Other creditors	6,054	8,784
Directors' loan accounts	-	121,235

	426,881	508,309

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	26,012	37,233
Other loans	16,787	15,751
Other creditors	34,900	6,708
Other creditors (1)	-	28,192
Shareholder loans	166,235	-

	243,934	87,884

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	454	454

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