Cube Logic Limited - Accounts to registrar (filleted) - small 18.2
Cube Logic Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018 |
| FOR |
| CUBE LOGIC LIMITED |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 6 |
| CUBE LOGIC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| BALANCE SHEET |
| 31 DECEMBER 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 1. | STATUTORY INFORMATION |
| Cube Logic Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is |
| appropriate because there are no material uncertainties related to events or conditions that may cast significant |
| doubt about the ability of the company to continue as a going concern. There is sufficient funding in place to |
| support the ongoing trade of the company. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group or those deemed to have been transacted under |
| normal market conditions. |
| Significant judgements and estimates |
| The preparation of financial statements requires management to make judgements, estimates and assumptions |
| about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates |
| and underlying assumptions are based on historical experience and other factors that are considered to be |
| relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting |
| estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or |
| in the period of the revision and future periods if the revision affects both current and future periods. |
| There are no key judgements and sources of estimation uncertainty that have a significant effect on the amounts |
| recognised in the financial statements. |
| Turnover |
| Turnover is measured at the fair value of consideration received from the provision of services which fall within |
| the company's ordinary activities, stated net of all discounts, value added tax and other sales taxes. |
| Turnover from consulting, implementation and training services is recognised as services are performed for all |
| projects, recognised on a time and materials basis. For projects recognised on a fixed fee basis, the company |
| records professional services revenue based upon the estimated proportionate performance, measured by the |
| actual number of hours incurred divided by management's best available estimated number of hours for the |
| project and an appropriate reserve based on past experience, as appropriate. Turnover from maintenance |
| contracts is recognised over the term of the related contracts. |
| Tangible fixed assets |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 3. | ACCOUNTING POLICIES - continued |
| Investments in subsidiaries |
| Equity investments are recognised initially at fair value which is normally the transaction price excluding |
| transaction costs. |
| Subsequently they are measured at fair value through profit or loss, except for those equity investments that are |
| not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost |
| less impairment until a reliable measure of fair value becomes available. If a reliable measure of fair value is no |
| longer available, the equity instrument's fair value on the last date the instrument was reliably measurable is |
| treated as the cost of the instrument. |
| The carrying value is reviewed for impairment when events or changes in circumstances indicate the carrying |
| value may not be recoverable. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
| the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
| that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
| of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
| will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Transactions in foreign currencies are initially recorded in the entity's functional currency by applying the spot |
| exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign |
| currencies are retranslated at the rate of exchange at the balance sheet date. All differences are taken to the |
| profit and loss account. |
| 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 31 December 2018 |
| DEPRECIATION |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date the company owed £20,000 (2017: £nil) to Mr D Priestley. |
| CUBE LOGIC LIMITED (REGISTERED NUMBER: 07054261) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2018 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent company of Cube Logic Limited is CPMA Associates Limited. |
| The directors do not consider there to be any one ultimate controlling party. |