ACCOUNTS - Final Accounts

CUBEX LAND LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseServices relating to the development and trading of property76falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05179869 2022-04-01 2023-03-31 05179869 2021-04-01 2022-03-31 05179869 2023-03-31 05179869 2022-03-31 05179869 c:Director1 2022-04-01 2023-03-31 05179869 d:FurnitureFittings 2022-04-01 2023-03-31 05179869 d:FurnitureFittings 2023-03-31 05179869 d:FurnitureFittings 2022-03-31 05179869 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05179869 d:CurrentFinancialInstruments 2023-03-31 05179869 d:CurrentFinancialInstruments 2022-03-31 05179869 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05179869 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05179869 d:ShareCapital 2023-03-31 05179869 d:ShareCapital 2022-03-31 05179869 d:RetainedEarningsAccumulatedLosses 2023-03-31 05179869 d:RetainedEarningsAccumulatedLosses 2022-03-31 05179869 c:FRS102 2022-04-01 2023-03-31 05179869 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05179869 c:FullAccounts 2022-04-01 2023-03-31 05179869 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05179869 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 05179869

CUBEX LAND LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

CUBEX LAND LIMITED

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 8

CUBEX LAND LIMITED

REGISTERED NUMBER: 05179869

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		5,325		3,310
Investments	5		-		100
			5,325		3,410
Current assets
Debtors: amounts falling due within one year	6	139,133		138,006
Cash at bank and in hand	7	69,611		29,329
		208,744		167,335
Creditors: amounts falling due within one year	8	(126,582)		(164,910)
Net current assets			82,162		2,425
Total assets less current liabilities			87,487		5,835

Net assets			87,487		5,835

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	86,487	4,835
	87,487	5,835

Page 1

CUBEX LAND LIMITED

REGISTERED NUMBER: 05179869

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R J S Palmer

Director

Date: 27 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

Cubex Land Limited is a private company limited by shares, incorporated in England and Wales, registration number 05179869. The address of the registered office is Third Floor Queensberry House, 3 Old Burlington Street, London, W1S 3AE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover represents fees receivable net of VAT.
Fees receivable represents the value of services provided under contracts to the extent that there is a right to the consideration and is recorded at the value of the consideration due.
Where a contract has only been partiall completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

2.3

Going concern

The accounts have been prepared on a going concern basis as the company's directors will continue to provide the necessary financial support to enable the company to meet its forecast liabilities as they fall due.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary

Page 4

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.8

Financial instruments (continued)

course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.12

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

2.13

Taxation

Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 5

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 6).

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2022	6,030
	Additions	3,559
	At 31 March 2023	9,589
	Depreciation
	At 1 April 2022	2,720
	Charge for the year on owned assets	1,544
	At 31 March 2023	4,264
	Net book value
	At 31 March 2023	5,325
	At 31 March 2022	3,310

Page 6

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

5.	Fixed asset investments

		Investments in subsidiary companies
		£

	At 1 April 2022	100
	Disposals	(100)
	At 31 March 2023	-

During the year, Cubex Management Services Limited was struck off.

Debtors

					2023	2022
					£	£


Trade debtors	87,726	83,567
Other debtors	27,770	21,094
Prepayments and accrued income	23,637	33,345
	139,133	138,006

7.	Cash and cash equivalents
		2023	2022
		£	£

Cash at bank and in hand	69,611	29,329
	69,611	29,329

Page 7

CUBEX LAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

8.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	88,628	132,784
Amounts owed to group undertakings	-	21,956
Other taxation and social security	33,963	5,268
Other creditors	881	1,792
Accruals and deferred income	3,110	3,110
	126,582	164,910

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,816 (2022 - £3,082).
Contributions totalling £881 (2022 - £754) were payable to the fund at the balance sheet date and are
included in creditors.

10.	Controlling party

The Directors believe there is no ultimate controlling party.

Page 8