Cubbi App Ltd

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

1. Revision by Replacement

The financial statements for the period ended 31 January 2025 have been revised.

These financial statements:

replace the original financial statements;
are now the statutory financial statements;
have been prepared as at the date of the original financial statements, and not as at the date of the revision and accordingly do not deal with events between those dates.

The revisions relate to development expenditure incurred in creating the company's software application, which had previously been recognised in the profit and loss account. The expenditure has been reassessed under FRS 102 and, where the relevant recognition criteria have been satisfied, has been capitalised as an intangible fixed asset.

Adjustments have been made to the profit and loss account, intangible fixed assets and retained earnings, as applicable.

2. General Information

Cubbi App Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15418183 . The registered office is Studio 9 50-54 St. Pauls Square, Birmingham, B3 1QS.

3. Accounting Policies

3.1. 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.

3.2. Going Concern Disclosure

The company’s financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company’s needs. In assessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.

3.3. Turnover

Turnover is recognised to the extent there is probable 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.

Turnover from a contract to provide services is recognised in the period in which the services are provided.

3.4. Intangible Fixed Assets and Amortisation - Other Intangible

Purchasedintangible assets

Purchased intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortization and impairment losses.

All intangible assets are considered to have a finite useful life. The estimated useful lives are as follows:

Development expenditure – 5 years on a straight line basis

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

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Cubbi App Ltd

Notes to the Financial Statements (continued)

For the Period 16 January 2024 to 31 January 2025

3.5. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

3.6. 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 period, 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.

3.7. Government Grant

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

4. Average Number of Employees

Average number of employees during the period was: NIL

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Cubbi App Ltd

Notes to the Financial Statements (continued)

For the Period 16 January 2024 to 31 January 2025

5. Intangible Assets

	Other
	£
Cost
As at 16 January 2024	-
Additions	10,543

As at 31 January 2025	10,543

Amortisation
As at 16 January 2024	-
Provided during the period	1,205

As at 31 January 2025	1,205

Net Book Value
As at 31 January 2025	9,338

As at 16 January 2024	-

6. Debtors

	31 January 2025
	£
Due within one year
Other taxes and social security	3,053

7. Creditors: Amounts Falling Due Within One Year

	31 January 2025
	£
Bank loans and overdrafts	1,350
Other creditors	7,475

	8,825

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

	31 January 2025
	£
Bank loans	5,715

9. Share Capital

	31 January 2025
	£
Allotted, Called up and fully paid	2

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		31 January 2025
	Notes	£	£
FIXED ASSETS
Intangible Assets	5		9,338

			9,338
CURRENT ASSETS
Debtors	6	3,053
Cash at bank and in hand		4,274

		7,327
Creditors: Amounts Falling Due Within One Year	7	(8,825 )

NET CURRENT ASSETS (LIABILITIES)			(1,498 )

TOTAL ASSETS LESS CURRENT LIABILITIES			7,840

Creditors: Amounts Falling Due After More Than One Year	8		(5,715 )

NET ASSETS			2,125

CAPITAL AND RESERVES
Called up share capital	9		2
Profit and Loss Account			2,123

SHAREHOLDERS' FUNDS			2,125