Cube Advisers Limited - Accounts to registrar (filleted) - small 18.2
Cube Advisers Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| CUBE ADVISERS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 8 |
| CUBE ADVISERS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| BALANCE SHEET |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| BALANCE SHEET - continued |
| 31 March 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Cube Advisers Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, in relation to property services, excluding rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at their historic cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery etc - 33% on cost and 25% on reducing balance |
| On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in the income statement, and included in administrative expenses. |
| Fixed Asset Investments |
| Other investments comprise of an investment in an Unit Trust which is carried at cost less impairment as fair value cannot be measured reliably without undue cost or effort. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to income statement in the period to which they relate. |
| Financial instruments |
| Financial instruments are classified by the directors as basic or non-basic, following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest rate method. The company has no non-basic financial instruments. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| Additions |
| At 31 March 2020 |
| PROVISIONS |
| Impairments | 23,294 |
| At 31 March 2020 | 23,294 |
| NET BOOK VALUE |
| At 31 March 2020 |
| The above investment is in respect of units acquired in an independently administered Unit Trust. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2020 | 2019 |
| £ | £ |
| Within one year |
| Between one and five years |
| CUBE ADVISERS LIMITED (REGISTERED NUMBER: 09819904) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 10. | CAPITAL COMMITMENTS |
| 2020 | 2019 |
| £ | £ |
| Contracted but not provided for in the |
| financial statements |
| 11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The directors received cash advanced from the company amounting to £105,000 (2019: £330,877). The current year advances are interest-free (2019 interest charged at 2.5%). At the year end the directors owed £102,805 (2019: £244,085). |
| 12. | RELATED PARTY DISCLOSURES |
| As at the year end, £121,062 (2019: £130,786) was owed to Cube Real Estate Limited, a company in liquidation with common directors. This balance represents an interest-free loan. |
| As at the year end, £56,992 (2019: £nil) was owed to Cube Real Estate Developments Limited, a company with common directors. This balance represents an interest-free loan. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| CUBE ADVISERS LIMITED |
| 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 Cube Advisers Limited for the year ended 31 March 2020 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Cube Advisers 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 Cube Advisers Limited and state those matters that we have agreed to state to the Board of Directors of Cube Advisers 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 Cube Advisers Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Cube Advisers 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 profit of Cube Advisers Limited. You consider that Cube Advisers 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 Cube Advisers 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. |
| This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk. |
| Chartered Accountants |
| Ashbourne House |
| The Guildway |
| Old Portsmouth Road |
| Guildford |
| Surrey |
| GU3 1LR |