General Information
Kens Cube Limited is a private company, limited by shares, registered in England and Wales, registration number 08562623, registration address Mcmillan Suite, 9-11 Gunnery Terrace, London, SE18 6SW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Revenue
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of Services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:- - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contact; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
Financial instruments
The company has elected to apply Section 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes 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.
The company's policies for its major classes of the financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and intercompany working capital balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instrument are subsequently carried at a amortised cost, using the effective interest rate method.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the
fact that the company has a deficiency on total equity at the end of the year. The directors
consider this basis to be appropriate as the company has sufficient facilities available from
its shareholders to fund its working capital requirements for a period of at least twelve months
from the date these financial statements were approved.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Straight Line
|
|
| 2. |
Average number of employees
Average number of employees during the year was 17 (2024 : 10).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
9,590 |
|
9,590 |
| Additions |
8,879 |
|
8,879 |
| Disposals |
(424) |
|
(424) |
| At 31 March 2025 |
18,045 |
|
18,045 |
| Depreciation |
| At 01 April 2024 |
3,455 |
|
3,455 |
| Charge for year |
3,625 |
|
3,625 |
| On disposals |
(425) |
|
(425) |
| At 31 March 2025 |
6,655 |
|
6,655 |
| Net book values |
| Closing balance as at 31 March 2025 |
11,390 |
|
11,390 |
| Opening balance as at 01 April 2024 |
6,135 |
|
6,135 |
|
| 4. |
Share Capital
Allotted, called up and fully paid
|
31/03/2025
£ |
|
31/03/2024
£ |
|
1,000
Ordinary shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
| 5. |
Controlling Parties
The ultimate parent undertaking is Frontive Holding Limited (incorporated in England & wales). Its registered office is 9-11 Gunnery Terrace, London, SE18 6SW.
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