Cube London LLP - Accounts to registrar (filleted) - small 23.2.5

Cube London LLP - Accounts to registrar (filleted) - small 23.2.5

CUBE LONDON LLP - Company Information

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REGISTERED NUMBER: OC320554 (England and Wales)














Financial Statements for the Year Ended 30 July 2023

for

Cube London LLP

Cube London LLP (Registered number: OC320554)






Contents of the Financial Statements
for the Year Ended 30 July 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cube London LLP

General Information
for the Year Ended 30 July 2023







DESIGNATED MEMBERS: Mr S Goldstone
Mr S Brody





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: OC320554 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY
Page 1
Cube London LLP (Registered number: OC320554)

Balance Sheet
30 July 2023

30.7.23 30.7.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 16,438 19,339
Investment property 5 4,090,697 4,090,697
4,107,135 4,110,036

CURRENT ASSETS
Debtors 6 459,658 440,401
Cash at bank 48,249 105,978
507,907 546,379
CREDITORS
Amounts falling due within one year 7 206,960 211,862
NET CURRENT ASSETS 300,947 334,517
TOTAL ASSETS LESS CURRENT LIABILITIES 4,408,082 4,444,553

CREDITORS
Amounts falling due after more than one
year
8
1,974,437
2,054,437
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,433,645 2,390,116

The notes form part of these financial statements

Page 2
Cube London LLP (Registered number: OC320554)

Balance Sheet - continued
30 July 2023

30.7.23 30.7.22
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS
10
816,005
772,476

MEMBERS' OTHER INTERESTS
Revaluation reserve 1,617,640 1,617,640
2,433,645 2,390,116

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 816,005 772,476
Members' other interests 1,617,640 1,617,640
2,433,645 2,390,116

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 July 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 30 April 2024 and were signed by:





Mr S Goldstone - Designated member

The notes form part of these financial statements

Page 3
Cube London LLP (Registered number: OC320554)

Notes to the Financial Statements
for the Year Ended 30 July 2023

1. STATUTORY INFORMATION

Cube London LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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

Turnover represents rents receivable excluding value added tax.

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 - 15% on reducing balance

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.

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

Page 4
Cube London LLP (Registered number: OC320554)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 31 July 2022
and 30 July 2023 37,047
DEPRECIATION
At 31 July 2022 17,708
Charge for year 2,901
At 30 July 2023 20,609
NET BOOK VALUE
At 30 July 2023 16,438
At 30 July 2022 19,339

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 July 2022
and 30 July 2023 4,090,697
NET BOOK VALUE
At 30 July 2023 4,090,697
At 30 July 2022 4,090,697

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.7.23 30.7.22
£    £   
Trade debtors 19,595 10,338
Amounts owed by associates 440,063 430,063
459,658 440,401

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.7.23 30.7.22
£    £   
Bank loans and overdrafts 80,000 80,000
Amounts owed to associates 113,769 121,769
Taxation and social security 13,191 10,093
206,960 211,862

Page 5
Cube London LLP (Registered number: OC320554)

Notes to the Financial Statements - continued
for the Year Ended 30 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.7.23 30.7.22
£    £   
Bank loans 1,840,000 1,920,000
Amounts owed to group undertakings 134,437 134,437
1,974,437 2,054,437

9. SECURED DEBTS

The bank loan is secured on the company's investment property.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
30.7.23 30.7.22
£    £   
Amounts owed to members in respect of profits 816,005 772,476

Falling due within one year 816,005 772,476

Loans and other debts due to members have no preferential rank in relation to other creditors.

11. RELATED PARTY DISCLOSURES

The members Mr S Goldstone and Mr S Brody are deemed to be key management personnel.

Page 6