Registration number:
All Cube Limited
for the Year Ended 31 December 2019
All Cube Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
All Cube Limited
Company Information
Director |
Mr N D Bessent |
Registered office |
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Accountants |
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All Cube Limited
(Registration number: 06462422)
Balance Sheet as at 31 December 2019
Note |
2019 |
2018 |
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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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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 |
2 |
2 |
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Profit and loss account |
646,780 |
427,784 |
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Total equity |
646,782 |
427,786 |
For the financial year ending 31 December 2019 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All Cube Limited
(Registration number: 06462422)
Balance Sheet as at 31 December 2019
Approved and authorised by the
Director
All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England & Wales. The company's registered office address can be found on the Company Information page.
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.
Going concern
We have paid particular attention to the likely effects on the business of the current Covid-19 outbreak and the directors remain confident that sufficient funding is in place and that the company has adequate resources to enable the company to continue as a going concern for the foreseeable future.
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.
All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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 |
25% on reducing balance |
Furniture, Fixtures & Equipment |
50% on reducing balance for equipment & 25% on reducing balance for fixtures and fittings |
Plant & Machinery |
25% on reducing balance |
Improvements to property |
Over the term of the lease |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
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.
All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
2 |
Accounting policies (continued) |
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Tangible assets |
Improvements to Property |
Furniture, fittings and equipment |
Motor vehicles |
Hire Fleet |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 January 2019 |
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Additions |
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- |
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Disposals |
- |
( |
( |
( |
- |
( |
At 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
( |
( |
- |
( |
At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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Stocks |
2019 |
2018 |
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Other inventories |
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Debtors |
Note |
2019 |
2018 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Other prepayments |
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Total current trade and other debtors |
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All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Creditors |
Note |
2019 |
2018 |
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Due within one year |
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HP and finance lease liability |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Corporation tax |
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Due after one year |
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HP and finance lease liability |
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The finance leases and hire purchase liabilities above are secured over the assets to which they relate.
Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Loans and borrowings |
2019 |
2018 |
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Non-current loans and borrowings |
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Finance lease and hire purchase liabilities |
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2019 |
2018 |
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Current loans and borrowings |
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Finance lease and hire purchase liabilities |
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All Cube Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2019 |
2018 |
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Not later than one year |
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Later than one year and not later than five years |
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- |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is