Registration number: 06606067

Cubetag Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Cubetag Ltd

Company Information

Director

Mr Maksim Burdilov

Registered office

Tileman House 131 Upper Richmond Road London SW15 2DD

Accountants

Carbon Accountancy Limited Chartered Accountants 80-83 Long Lane London EC1A 9ET

Cubetag Ltd

(Registration number: 06606067)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Current assets
Stocks	5	647,079	574,537
Debtors	6	271,246	252,943
Cash at bank and in hand		93,771	19,869
		1,012,096	847,349
Creditors: Amounts falling due within one year	7	(283,513)	(332,578)
Total assets less current liabilities		728,583	514,771
Creditors: Amounts falling due after more than one year	7	(232,600)	(176,427)
Net assets		495,983	338,344
Capital and reserves
Called up share capital	8	100	100
Retained earnings		495,883	338,244
Shareholders' funds		495,983	338,344

For the financial year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 August 2026
 

......................................... Mr Maksim Burdilov Director

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
Tileman House
131 Upper Richmond Road
London
SW15 2DD

These financial statements were authorised for issue by the director on 28 August 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance
Computer equipment and software	25% straight line
Furniture and fittings	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 4).

4	Tangible assets

	Furniture, fittings and equipment  £	Computer equipment and software £	Total £
Cost or valuation
At 1 December 2024	157,739	51,567	209,306
At 30 November 2025	157,739	51,567	209,306
Depreciation
At 1 December 2024	157,739	51,567	209,306
At 30 November 2025	157,739	51,567	209,306
Carrying amount
At 30 November 2025	-	-	-

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

5

Stocks

	2025 £	2024 £
Other inventories	647,079	574,537

6

Debtors

Current	2025 £	2024 £
Trade debtors	143,799	173,448
Other debtors	127,447	79,495
	271,246	252,943

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	32,642	51,124
Trade creditors		4,475	8,377
Taxation and social security		29,389	65,143
Other creditors		217,007	207,934
		283,513	332,578

Creditors include bank and other loans which are secured of £32,642 (2024 - £106,092).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	32,645
Other non-current financial liabilities		232,600	143,782
		232,600	176,427

Creditors include bank loans which are secured of £Nil (2024 - £32,645).

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	32,645

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	32,642	48,960
Bank overdrafts	-	2,164
	32,642	51,124

10	Related party transactions

Cubetag GmbH, resident in Germany and in which Maksim Burdilov is also director and shareholder, had the following transactions with the company during the period:

- At the period end Cubetag Ltd was owed £104,519 (2024 - £104,519) which is included in trade debtors.
- Cubetag Ltd purchased goods and services from Cubetag GmbH amounting to £37,862 (2024 - £128,670)
- At the period end Cubetag Ltd was owed by Cubetag GmbH £756 (2024 - £Nil) which is included in other creditors.
 
Hipcrate Limited, resident in the UK and in which Maksim Burdilov is also director and shareholder, had the following transactions with the company during the period:

- Cubetag Ltd provided services to Hipcrate Limited amounting to £393,765 (2024 - £468,483)
- At the period end Cubetag was owed £38,220 (2024 - £13,402) which is included in trade debtors.
- At the period end Cubetag Ltd owed Hipcrate Limited £662 (2024 - £Nil) which is included in other creditors.
 

Cubetag Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

10	Related party transactions (continued)

The company also made interest free loans to the following companies in which Maksim Burdilov is both a director and controlling shareholder:

- Door Z Studio Ltd - £17,171 (2024 - £3,789)
- Smart Finance Ltd - £17,036 (2024 - £17,036)

As the above loans are repayable on demand, they are included in other debtors.