CUB3 Limited - Period Ending 2016-01-31

Registration number: 05325297

CUB3 Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

HPH
Chartered Accountants
54 Bootham
York
YO30 7XZ

CUB3 Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

CUB3 Limited
(Registration number: 05325297)
Abbreviated Balance Sheet - UNAUDITED - at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			256,550			256,451
Current assets
Debtors					2,968			6,659
Cash at bank and in hand					7,293			3,461
					10,261			10,120
Creditors: Amounts falling due within one year					(130,048)			(119,046)
Net current liabilities					(119,787)			(108,926)
Total assets less current liabilities					136,763			147,525
Creditors: Amounts falling due after more than one year					(124,605)			(138,818)
Net assets					£12,158			£8,707
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					12,156			8,705
Shareholders' funds					£12,158			£8,707

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 28 October 2016

.........................................
A Williams
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

CUB3 Limited
Notes to the Abbreviated Accounts - UNAUDITED - for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For long term finance it relies on the loan provided by the director. In assessing going concern he has assumed that this loan will not be repaid for the foreseeable future and, on that basis, he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover

Turnover represents the value of rental income derived from tenants during the year.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Page 2

CUB3 Limited
Notes to the Abbreviated Accounts - UNAUDITED - for the Year Ended 31 January 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		262,920			262,920
Additions		453			453
At 31 January 2016		263,373			263,373
Depreciation
At 1 February 2015		6,469			6,469
Charge for the year		354			354
At 31 January 2016		6,823			6,823
Net book value
At 31 January 2016		£256,550			£256,550
At 31 January 2015		£256,451			£256,451

The investment property has been included at cost as the director does not believe that there has been any significant change in its value.

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		13,800			13,000
Amounts falling due after more than one year		124,605			138,818
Total secured creditors		£138,405			£151,818

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		£66,005			£84,018

Page 3

CUB3 Limited
Notes to the Abbreviated Accounts - UNAUDITED - for the Year Ended 31 January 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary shares of £1.00 each	2	£2	2	£2

5	Related party transactions

Director's advances and credits

	2016 Advance/ (Credit) £	2016 Repaid £	2015 Advance/ (Credit) £	2015 Repaid £
A Williams
The loan is interest free and repayable when the company has sufficient funds	(£111,367)	-	(£99,807)	-

Page 4