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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 July 2021 |
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Biricube Limited |
REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 July 2021 |
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for |
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Biricube Limited |
Biricube Limited (Registered number: 09152478) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2021 |
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Company Information | 1 |
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Report of the Director | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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Biricube Limited |
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Company Information |
for the Year Ended 31 July 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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38 Craven Street |
London |
WC2N 5NG |
Biricube Limited (Registered number: 09152478) |
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Report of the Director |
for the Year Ended 31 July 2021 |
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The director presents his report with the financial statements of the company for the year ended 31 July 2021. |
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DIRECTOR |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
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ON BEHALF OF THE BOARD: |
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Biricube Limited (Registered number: 09152478) |
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Income Statement |
for the Year Ended 31 July 2021 |
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2021 | 2020 |
£ | £ |
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TURNOVER |
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Administrative expenses |
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428,077 | 759,257 |
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Other operating income |
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OPERATING PROFIT |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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Biricube Limited (Registered number: 09152478) |
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Balance Sheet |
31 July 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the director and authorised for issue on
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Biricube Limited (Registered number: 09152478) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2021 |
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1. | STATUTORY INFORMATION |
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Biricube Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
The plant and machinery consists of leasehold improvement of a boat. The lease is on a free rent basis over the 5 years from the date of delivery of the boat.Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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The Boat is depreciated at 7.5% reducing balance with full depreciation in the first year. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Creditors |
Short term trade 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. |
Biricube Limited (Registered number: 09152478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2021 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2020 |
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Additions |
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At 31 July 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for year |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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At the year end the company was owed £2,400 (2020: £2,400) by Biritwo Limited, |
£186,000 (2020: £186,000) by Biri4 Limited and £693,066 (2020: £426,321) by Biri2 US LLC, all companies controlled by Mr L Bellini. The loans are payable on demand and bear no interest. |
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At year end company owed £20,279 (2020: £311,226) to its shareholder. |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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