Cube (Yorkshire) Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Cube (Yorkshire) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06558096 . The registered office is Hollybank Forge Philip Lane, Hambleton, Selby, England, YO8 9GB.

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	Not depreciated
Leasehold	Not depreciated
Plant & Machinery	12.5% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	20% reducing balance
Computer Equipment	33.33% reducing balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Cube (Yorkshire) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.5. Financial Instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.6. 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.

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.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Cube (Yorkshire) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.8. Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company

are assigned to those units.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2024: 8)

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 May 2024	700,000	62,258	3,885,008	172,049
Additions	-	-	200,000	-
Disposals	(65,000 )	-	(49,350 )	-

As at 30 April 2025	635,000	62,258	4,035,658	172,049

Depreciation
As at 1 May 2024	-	-	1,531,195	74,574
Provided during the period	-	-	301,479	24,368
Disposals	-	-	(24,038 )	-

As at 30 April 2025	-	-	1,808,636	98,942

Net Book Value
As at 30 April 2025	635,000	62,258	2,227,022	73,107

As at 1 May 2024	700,000	62,258	2,353,813	97,475


	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2024	8,220	24,827	4,852,362
Additions	1,207	579	201,786
Disposals	-	-	(114,350 )

As at 30 April 2025	9,427	25,406	4,939,798

...CONTINUED

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Cube (Yorkshire) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

Depreciation
As at 1 May 2024	2,490	16,423	1,624,682
Provided during the period	1,166	2,930	329,943
Disposals	-	-	(24,038 )

As at 30 April 2025	3,656	19,353	1,930,587

Net Book Value
As at 30 April 2025	5,771	6,053	3,009,211

As at 1 May 2024	5,730	8,404	3,227,680

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	429,383	324,679
Prepayments and accrued income	5,129	2,004,870
Quarry - Exclusivity deposit	22,500	22,500
NMCN Retention	2,158	2,158
Garnet Road Aggregate Loan Account	-	174,139
Agriscape Engineering Loan Account	1,017,193	357,193
Hollybank Estates Ltd	865,900	1,040,000
Zebra Haulage Ltd - Debit	90,877	-
Gold Plant Services Ltd - Debit	492,324	-
Carbon X Loan Account-	300,000	-
VAT	-	71,936
Other taxes and social security	35,419	11,132
Net wages	678	-

	3,261,561	4,008,607

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	489,602	489,602
Trade creditors	764,102	710,459
Bank loans and overdrafts	107,793	100,000
VAT	184,106	-
Earnings Order payable	-	65
Gold Plant Haulage Ltd	910,028	2,006,697
Gold Plant Services Ltd	-	(492,454 )
Zebra Haulage Ltd	-	359,123
Pension control account	437	-
Other creditors - Negative debtors	450,308	-
Garnet Road Aggregate Loan Account - Credit	23,763	-
Accruals and deferred income	37,750	188,500
Directors' loan accounts	11,683	-

	2,979,572	3,361,992

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Cube (Yorkshire) Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

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

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	562,997	660,152
Bank loans	331,868	447,455

	894,865	1,107,607

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	489,602	489,602
Later than one year and not later than five years	562,997	660,152

	1,052,599	1,149,754

	1,052,599	1,149,754

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,009,211		3,227,680

			3,009,211		3,227,680
CURRENT ASSETS
Debtors	5	3,261,561		4,008,607
Cash at bank and in hand		99,080		4,875

		3,360,641		4,013,482
Creditors: Amounts Falling Due Within One Year	6	(2,979,572 )		(3,361,992 )

NET CURRENT ASSETS (LIABILITIES)			381,069		651,490

TOTAL ASSETS LESS CURRENT LIABILITIES			3,390,280		3,879,170

Creditors: Amounts Falling Due After More Than One Year	7		(894,865 )		(1,107,607 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(495,000 )		(495,000 )

NET ASSETS			2,000,415		2,276,563

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			2,000,413		2,276,561

SHAREHOLDERS' FUNDS			2,000,415		2,276,563