Registration number:
All Cube Limited
for the Year Ended 31 December 2016
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
All Cube Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
All Cube Limited
Company Information
Director |
Mr N D Bessent |
Registered office |
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Accountants |
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Page 1 |
All Cube Limited
(Registration number: 06462422)
Balance Sheet as at 31 December 2016
Note |
2016 |
2015 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The profit and loss account and directors’ report have not been delivered to the Registrar of Companies in accordance with section 444 of the Companies Act 2006.
Page 2 |
All Cube Limited
(Registration number: 06462422)
Balance Sheet as at 31 December 2016
Approved and authorised by the
.........................................
Mr N D Bessent
Director
Page 3 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
Unit 26 Red Lion Business Park
Red Lion Road
Tolworth
Surrey
KT6 7QD
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 4 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor Vehicles |
25% on reducing balance |
Hire Fleet |
over the lease term |
Furniture, Fixtures & Equipment |
50% on reducing balance for computer equipment & 25% on reducing balance for fixtures and fittings |
Plant & Machinery |
25% on reducing balance |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Page 5 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 6 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Tangible assets |
Improvements to property |
Furniture, fittings and equipment |
Motor vehicles |
Hire Fleet |
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Cost or valuation |
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At 1 January 2016 |
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Additions |
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Disposals |
- |
- |
( |
( |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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Eliminated on disposal |
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- |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2016 |
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Additions |
- |
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Disposals |
- |
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At 31 December 2016 |
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Depreciation |
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At 1 January 2016 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
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At 31 December 2016 |
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Carrying amount |
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At 31 December 2016 |
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At 31 December 2015 |
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Page 7 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Stocks |
2016 |
2015 |
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Other inventories |
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- |
Debtors |
Note |
2016 |
2015 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Other debtors |
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Other prepayments |
2,731 |
3,278 |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
83,018 |
3,625 |
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Corporation tax |
71,938 |
40,850 |
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Due after one year |
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Loans and borrowings |
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Page 8 |
All Cube Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Loans and borrowings |
2016 |
2015 |
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Non-current loans and borrowings |
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Bank borrowings |
- |
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Finance lease liabilities |
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2016 |
2015 |
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Current loans and borrowings |
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Bank borrowings |
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Finance lease liabilities |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
Transition to FRS 102 |
Page 9 |