Company Registration No. NI606079 (Northern Ireland)
Cube (N.I.) Limited
Unaudited accounts
for the year ended 28 February 2023
Cube (N.I.) Limited
Unaudited accounts
Contents
Cube (N.I.) Limited
Company Information
for the year ended 28 February 2023
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 2023
In accordance with our engagement letter dated 1 October 2023, 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 2023 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
30 November 2023
Cube (N.I.) Limited
Statement of financial position
as at 28 February 2023
Tangible assets
324,925
202,216
Cash at bank and in hand
180,886
150,806
Creditors: amounts falling due within one year
(484,338)
(371,859)
Net current liabilities
(285,211)
(201,431)
Called up share capital
100
100
Profit and loss account
39,614
685
Shareholders' funds
39,714
785
For the year ending 28 February 2023 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 30 November 2023 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 2023
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 2023
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2022
154,932
155,956
310,888
Additions
100,875
39,113
139,988
At 28 February 2023
255,807
195,069
450,876
At 1 March 2022
-
108,672
108,672
Charge for the year
-
17,279
17,279
At 28 February 2023
-
125,951
125,951
At 28 February 2023
255,807
69,118
324,925
At 28 February 2022
154,932
47,284
202,216
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
42,935
52,046
Trade creditors
13,009
27,514
Taxes and social security
15,244
10,126
Other creditors
165,250
143,846
Loans from directors
56,546
-
7
Average number of employees
During the year the average number of employees was 15 (2022: 15).