Registration number:
3 Sided Cube Design Ltd
for the Year Ended 31 March 2017
Association of Chartered Certified Accountants
Unit 2 Dominion Centre
Elliott Road
Bournemouth
Dorset
BH11 8JR
3 Sided Cube Design Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
3 Sided Cube Design Ltd
Company Information
Director |
Mr Duncan Cook |
Company secretary |
Mr Duncan Cook |
Registered office |
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Accountants |
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Page 1 |
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
3 Sided Cube Design Ltd
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 3 Sided Cube Design Ltd for the year ended 31 March 2017 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of 3 Sided Cube Design Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of 3 Sided Cube Design Ltd and state those matters that we have agreed to state to the Board of Directors of 3 Sided Cube Design Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 3 Sided Cube Design Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 3 Sided Cube Design Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 3 Sided Cube Design Ltd. You consider that 3 Sided Cube Design Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of 3 Sided Cube Design Ltd. 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 statutory accounts.
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Association of Chartered Certified Accountants
Elliott Road
Bournemouth
Dorset
BH11 8JR
Page 2 |
3 Sided Cube Design Ltd
(Registration number: 05393027)
Balance Sheet as at 31 March 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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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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 March 2017 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.
Page 3 |
3 Sided Cube Design Ltd
(Registration number: 05393027)
Balance Sheet as at 31 March 2017
Approved and authorised by the
.........................................
Mr Duncan Cook
Company secretary and director
Page 4 |
3 Sided Cube Design Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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.
Foreign currency transactions and balances
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 |
Office equipment |
20% on a reducing balance basis |
Computer equipment |
33.33% on a straight line basis |
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.
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.
Page 5 |
3 Sided Cube Design Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 6 |
3 Sided Cube Design Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2016 |
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Additions |
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At 31 March 2017 |
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Depreciation |
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At 1 April 2016 |
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Charge for the year |
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At 31 March 2017 |
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Carrying amount |
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At 31 March 2017 |
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At 31 March 2016 |
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Debtors |
2017 |
2016 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Page 7 |
3 Sided Cube Design Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Dividends |
2017 |
2016 |
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£ |
£ |
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Interim dividend of £
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223,000 |
90,000 |
Related party transactions |
Transactions with directors |
2017 |
At 1 April 2016 |
Advances to directors |
Repayments by director |
At 31 March 2017 |
Mr Duncan Cook |
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There were no conditions attached to the loan which was interest free |
192,658 |
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( |
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2016 |
At 1 April 2015 |
Advances to directors |
Repayments by director |
At 31 March 2016 |
Mr Duncan Cook |
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There were no conditions attached to the loan which was interest free |
(29,081) |
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( |
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Directors' remuneration
The director's remuneration for the year was as follows:
2017 |
2016 |
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Remuneration |
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Dividends paid to directors |
2017 |
2016 |
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Mr Duncan Cook |
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Ordinary Shares of £1 each |
73,000 |
90,000 |
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Summary of transactions with parent
Page 8 |
3 Sided Cube Design Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Summary of transactions with other related parties
Interest is charged at 1% of the outstanding balance each month.
Parent and ultimate parent undertaking |
The company's immediate parent is
Transition to FRS 102 |
Page 9 |