Company Registration No. NI606079 (Northern Ireland)
Cube (N.I.) Limited
Unaudited accounts
for the year ended 28 February 2021
Cube (N.I.) Limited
Unaudited accounts
Contents
Cube (N.I.) Limited
Company Information
for the year ended 28 February 2021
Director
Declan McGonigle
Secretary
Declan McGonigle
Company Number
NI606079 (Northern Ireland)
Registered Office
1 - 5 Royal Avenue
Belfast
Antrim
BT1 1FB
N. Ireland
Accountants
MacNeary Rasdale & Co. Ltd
Wellington House
30 Darling St
Enniskillen
Fermanagh
BT74 7EW
Accountants' report to the Board of Directors on the unaudited financial statements of Cube (N.I.) Limited for the year ended 28 February 2021
In accordance with our engagement letter dated 1 October 2021, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made solely to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors as a body, for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Chartered Accountants Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet for the year ended 28 February 2021 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
MacNeary Rasdale & Co. Ltd
Chartered Accountants
Wellington House
30 Darling St
Enniskillen
Fermanagh
BT74 7EW
25 November 2021
Cube (N.I.) Limited
Statement of financial position
as at
28 February 2021
Tangible assets
132,563
58,375
Inventories
17,500
13,677
Cash at bank and in hand
40,185
149,827
Creditors: amounts falling due within one year
(217,324)
(207,902)
Net current liabilities
(159,639)
(44,398)
Total assets less current liabilities
(27,076)
13,977
Creditors: amounts falling due after more than one year
24,024
-
Net (liabilities)/assets
(3,052)
13,977
Called up share capital
100
100
Profit and loss account
(3,152)
13,877
Shareholders' funds
(3,052)
13,977
For the year ending 28 February 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2021 and were signed on its behalf by
Declan McGonigle
Director
Company Registration No. NI606079
Cube (N.I.) Limited
Notes to the Accounts
for the year ended 28 February 2021
Cube (N.I.) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI606079. The registered office is 1 - 5 Royal Avenue, Belfast, Antrim, BT1 1FB, N. Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Fees Earned are in relation to Comissions earned on Lottery Sales
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Cube (N.I.) Limited
Notes to the Accounts
for the year ended 28 February 2021
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2020
-
155,956
155,956
Additions
80,025
-
80,025
At 28 February 2021
80,025
155,956
235,981
At 1 March 2020
-
97,581
97,581
Charge for the year
-
5,837
5,837
At 28 February 2021
-
103,418
103,418
At 28 February 2021
80,025
52,538
132,563
At 29 February 2020
-
58,375
58,375
5
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
66,884
25,100
Trade creditors
8,507
15,400
Taxes and social security
11,236
13,204
Other creditors
11,692
19,692
Loans from directors
-
956
6
Creditors: amounts falling due after more than one year
2021
2020
Loans from directors
(24,024)
-
7
Average number of employees
During the year the average number of employees was 10 (2020: 12).