Cube Advisers Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09819904 (England and Wales)

CUBE ADVISERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

S C Loggie

J M E Lawes

SECRETARY:

S C Loggie

REGISTERED OFFICE:

21A Kingly Street

London

W1B 5QA

REGISTERED NUMBER:

09819904 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Tangible assets

5

12,877

23,226

Investments

6

264,888

230,068

277,765

253,294

CURRENT ASSETS

Debtors

7

3,683,301

607,359

Cash at bank

467,925

364,651

4,151,226

972,010

CREDITORS

Amounts falling due within one year

8

(1,670,837

)

(390,756

)

NET CURRENT ASSETS

2,480,389

581,254

TOTAL ASSETS LESS CURRENT LIABILITIES

2,758,154

834,548

PROVISIONS FOR LIABILITIES

(230

)

(4,450

)

NET ASSETS

2,757,924

830,098

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,757,824

829,998

2,757,924

830,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 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 23 December 2022 and were signed on its behalf by:

S C Loggie - Director

1.	STATUTORY INFORMATION

Cube Advisers Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

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.

Government grants

Government grants relate to amounts receivable in relation to government support available during the Coronavirus pandemic including interest payable by the Government on the Bounce Back loan.The grant income is accounted for under the accruals model. Grants relating to revenue are recognised in income on a systematic basis over the period in which the entity recognises the related costs for which the grant is intended to compensate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

40,115

Additions

1,901

At 31 March 2022

42,016

DEPRECIATION

At 1 April 2021

16,889

Charge for year

12,250

At 31 March 2022

29,139

NET BOOK VALUE

At 31 March 2022

12,877

At 31 March 2021

23,226

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2021

and 31 March 2022

265,702

PROVISIONS

At 1 April 2021

35,634

Impairments

(34,820

)

At 31 March 2022

814

NET BOOK VALUE

At 31 March 2022

264,888

At 31 March 2021

230,068

The above investment is in respect of units acquired in an independently administered Unit Trust.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

3,365,370

69,840

Other debtors

317,931

537,519

3,683,301

607,359

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

50,000

Trade creditors

206

31,209

Taxation and social security

1,263,503

106,528

Other creditors

407,128

203,019

1,670,837

390,756

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

28,605

94,035

Between one and five years

327,865

35,095

In more than five years

35,708

-

392,178

129,130

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors received cash advanced from the company amounting to £212,932 (2021: £276,000). The current year advances are interest-free. At the year end the directors owed £206,837 (2021: £271,805).

11.	RELATED PARTY DISCLOSURES

Included in other creditors is an interest-free loan of £263,459 (2021: £142,679) due to Cube Real Estate Limited, a company in liquidation with common directors.

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 2022 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.

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

23 December 2022