Cubik Innovation Ltd

(Registration number: 08150022)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	75,972	98,513
Current assets
Stocks	6	130,375	185,300
Debtors	7	214,885	166,117
Cash at bank and in hand		45,783	40,905
		391,043	392,322
Creditors: Amounts falling due within one year	8	(218,183)	(200,566)
Net current assets		172,860	191,756
Total assets less current liabilities		248,832	290,269
Creditors: Amounts falling due after more than one year	8	-	(24,982)
Provisions for liabilities		(17,400)	(22,000)
Net assets		231,432	243,287
Capital and reserves
Called up share capital		100	100
Share premium reserve		74,910	74,910
Profit and loss account		156,422	168,277
Total equity		231,432	243,287

Cubik Innovation Ltd

(Registration number: 08150022)
Balance Sheet as at 31 March 2026

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 29 September 2026 and signed on its behalf by:
 

......................................... P Mullen Director

......................................... S Beard Director

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	Statutory information

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

The address of its registered office is:
Bristol & Bath Science Park
Dirac Crescent
Emersons Green
Bristol
BS16 7FR

2	Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The company’s financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements and believe that the company is able to meet liabilities as they fall due.

Revenue recognition

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

The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

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

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Plant and machinery	15% on reducing balance
Fixtures and fittings	25% on reducing balance
Office equipment	33% on cost

Research and development costs

Expenditure on research and development is written off to the profit or loss during the year in which it is incurred.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured 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.

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

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 recognised initially at the transaction price.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 16 (2025 - 18).

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2026	Liability £
	17,400

2025	Liability £
	22,000

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

5	Tangible fixed assets

	Fixtures and fittings  £	Office equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2025	51,515	60,470	202,325	314,310
Additions	-	321	143	464
Disposals	(574)	(607)	(12,056)	(13,237)
At 31 March 2026	50,941	60,184	190,412	301,537
Depreciation
At 1 April 2025	40,710	57,907	117,180	215,797
Charge for the year	3,475	1,774	12,792	18,041
Eliminated on disposal	(387)	(607)	(7,279)	(8,273)
At 31 March 2026	43,798	59,074	122,693	225,565
Carrying amount
At 31 March 2026	7,143	1,110	67,719	75,972
At 31 March 2025	10,805	2,563	85,145	98,513

Cubik Innovation Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

6

Stocks

	2026 £	2025 £
Stocks	88,820	93,570
Work in progress	41,555	91,730
	130,375	185,300

7	Debtors: amounts falling due within one year

	2026 £	2025 £
Trade debtors	59,099	54,973
Other debtors	14,450	16,958
Accrued income	91,009	15,270
Prepayments	6,297	27,773
Corporation tax	44,030	51,143
	214,885	166,117

8

Creditors

	2026 £	2025 £
Amounts falling due within one year
Loans and borrowings	14,780	57,235
Hire purchase and finance lease liabilities	10,202	11,129
Trade creditors	45,745	59,716
Taxation and social security	72,239	36,560
Other creditors	9,060	6,077
Accruals and deferred income	8,853	29,837
Directors' loan accounts	57,304	12
	218,183	200,566

The Directors' loan is interest-free, unsecured and repayable on demand.