Cube Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07614414 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Cube Investments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T S Ubhi

REGISTERED OFFICE:

Pearl Assurance House

Friar Lane

Nottingham

NG1 6BT

REGISTERED NUMBER:

07614414 (England and Wales)

ACCOUNTANTS:

torr waterfield

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Tangible assets

4

1

1

Investment property

5

1,860,000

2,730,000

1,860,001

2,730,001

CURRENT ASSETS

Debtors

6

927,771

808,336

Cash at bank

23,647

2,038

951,418

810,374

CREDITORS

Amounts falling due within one year

7

(363,859

)

(151,033

)

NET CURRENT ASSETS

587,559

659,341

TOTAL ASSETS LESS CURRENT LIABILITIES

2,447,560

3,389,342

CREDITORS

Amounts falling due after more than one year

8

(959,284

)

(1,817,196

)

PROVISIONS FOR LIABILITIES

(395,811

)

(295,417

)

NET ASSETS

1,092,465

1,276,729

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

1,024,076

1,451,265

Retained earnings

68,388

(174,537

)

1,092,465

1,276,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 April 2022 and were signed by:

T S Ubhi - Director

1.	STATUTORY INFORMATION

Cube Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

Government grants

Government grants receivable in relation to expenditure is recognised when the expenditure is charged to the profit and loss.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

and 30 April 2021

7,527

DEPRECIATION

At 1 May 2020

and 30 April 2021

7,526

NET BOOK VALUE

At 30 April 2021

1

At 30 April 2020

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2020

2,730,000

Additions

180,000

Disposals

(1,050,000

)

At 30 April 2021

1,860,000

NET BOOK VALUE

At 30 April 2021

1,860,000

At 30 April 2020

2,730,000

Fair value at 30 April 2021 is represented by:

£

Valuation in 2021

1,860,000

The valuation of the investment property has been completed by the sole director at 30 April 2021 and is based on the rental yield.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Other debtors

927,771

808,336

Other debtors include prepayments of £27,677 (2020: £31,673).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

128,528

19,459

Trade creditors

14,702

11,984

Taxation and social security

38,227

5,093

Other creditors

182,402

114,497

363,859

151,033

Other creditors include accruals of £60,400 (2020: £4,800).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

959,284

1,817,196

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

919,284

1,274,367

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank loans

1,087,812

1,836,655

Bank loans are secured by fixed charges over the investment properties.