Kuber Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08693809 (England and Wales)

Kuber Ventures Limited

Unaudited Financial Statements for the Year Ended 30 April 2020

Page

Chartered Accountants' Report

1

Balance Sheet

2

Notes to the Financial Statements

4

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Kuber Ventures Limited for the year ended 30 April 2020 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kuber Ventures Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kuber Ventures Limited and state those matters that we have agreed to state to the Board of Directors of Kuber Ventures Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kuber Ventures Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kuber Ventures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Kuber Ventures Limited. You consider that Kuber Ventures Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kuber Ventures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haggards Crowther Professional Services LLP

Chartered Accountants

2nd Floor, Heathmans House

19 Heathmans Road

London

SW6 4TJ

29 May 2020

FIXED ASSETS

Intangible assets

4

1,179,334

880,341

Tangible assets

5

210

2,564

1,179,544

882,905

CURRENT ASSETS

Debtors

6

237,615

413,321

Cash at bank

139,103

103,979

376,718

517,300

CREDITORS

Amounts falling due within one year

7

220,384

247,830

NET CURRENT ASSETS

156,334

269,470

TOTAL ASSETS LESS CURRENT LIABILITIES

1,335,878

1,152,375

CREDITORS

Amounts falling due after more than one year

8

551,561

657,704

NET ASSETS

784,317

494,671

CAPITAL AND RESERVES

Called up share capital

9

84,949

82,961

Share premium

10

3,461,156

2,568,232

Retained earnings

10

(2,761,788

)

(2,156,522

)

SHAREHOLDERS' FUNDS

784,317

494,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 May 2020 and were signed on its behalf by:

Mr A A Kartashov - Director

1.	STATUTORY INFORMATION

Kuber Ventures Limited is a private company, limited by shares, registered in England and Wales.

The company's registered number is 08693809 and its registered address is 12/12A Margaret Street,

London, W1W 8RH.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates

and assumptions that affect the amounts reported. These estimates and judgements are continually

reviewed and are based on experience and other factors, including expectations of future events that

are believed to be reasonable under the circumstances. In the opinion of the directors there are no

judgements or key sources of estimation uncertainty that affect the preparation of the financial

statements.

Turnover

Turnover is stated net of VAT. Turnover represents the value of services provided under contracts to

the extent that there is a right to consideration and is recorded at the value of the consideration due.

Where a contract has only been partially completed at the balance sheet date, turnover represents

the value of the services provided to date based on a proportion of the total contract value. Where

payments are received from customers in advance of services provided, the amounts are recorded

as Deferred Income and included as part of Creditors due within one year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life.

Fixtures and fittings - 25% on cost

Computer equipment - 33% on cost

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Pension costs and other post-retirement benefits

The company makes payments to a defined contribution pension scheme. Contributions payable to

the pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the

company will continue in operational existence for the foreseeable future. The directors consider that

the company is a going concern on the basis that they will continue to provide financial support for

the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2019

1,573,006

Additions

506,992

At 30 April 2020

2,079,998

AMORTISATION

At 1 May 2019

692,665

Charge for year

207,999

At 30 April 2020

900,664

NET BOOK VALUE

At 30 April 2020

1,179,334

At 30 April 2019

880,341

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

34,162

DEPRECIATION

At 1 May 2019

31,598

Charge for year

2,354

At 30 April 2020

33,952

NET BOOK VALUE

At 30 April 2020

210

At 30 April 2019

2,564

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

56,446

175,001

Other debtors

181,169

238,320

237,615

413,321

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade creditors

108,571

86,739

Taxation and social security

1,813

2,605

Other creditors

110,000

158,486

220,384

247,830

Included within other creditors is an amount of £100,000 which represents a loan from B Forster.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Other creditors

551,561

657,704

During the year the long term creditors balance of £657,704 representing loans outstanding as at 30

April 2019 from Mr D Campbell and Mr A Kartashov and their wives was repaid fully.

The £551,561 balance in long term creditors represents new loans from Mr D Campbell and Mr A

Kartashov, directors of the company and their wives. There is no interest payable on the loans and the

maturation date of the loans is 31 March 2025.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

114,756

Ordinary A

1p

3,136

1,148

104,382

Ordinary B

1p

1,044

1,044

3,590

Ordinary C

1p

40

40

8,072,886

Deferred

1p

80,729

80,729

84,949

82,961

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 May 2019

(2,156,522

)

2,568,232

411,710

Deficit for the year

(605,266

)

(605,266

)

Share issue

-

892,924

892,924

At 30 April 2020

(2,761,788

)

3,461,156

699,368

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in Other creditors of more than one year is the amount of £147,841 (2019: £189,390) owing to

the director Andrew Kartashov. There is no interest payable on the loan and the maturation date is 31

March 2025.