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REGISTERED NUMBER: 12529412 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Michael Cuddy Property Limited

Michael Cuddy Property Limited (Registered number: 12529412)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Michael Cuddy Property Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mr J M Cuddy





REGISTERED OFFICE: 290 Church Street
Blackpool
Lancashire
FY1 3QA





REGISTERED NUMBER: 12529412 (England and Wales)





ACCOUNTANTS: CCW Limited
Chartered Accountants
295/297 Church Street
Blackpool
Lancashire
FY1 3PJ

Michael Cuddy Property Limited (Registered number: 12529412)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 108,000 -
Tangible assets 5 2,297 -
110,297 -

CURRENT ASSETS
Debtors 6 5,658 -
Cash at bank and in hand 21,444 100
27,102 100
CREDITORS
Amounts falling due within one year 7 100,195 142
NET CURRENT LIABILITIES (73,093 ) (42 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,204

(42

)

PROVISIONS FOR LIABILITIES 436 -
NET ASSETS/(LIABILITIES) 36,768 (42 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,668 (142 )
36,768 (42 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Michael Cuddy Property Limited (Registered number: 12529412)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2022 and were signed by:





Mr J M Cuddy - Director


Michael Cuddy Property Limited (Registered number: 12529412)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Michael Cuddy Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Michael Cuddy Property Limited (Registered number: 12529412)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 120,000
At 31 March 2022 120,000
AMORTISATION
Amortisation for year 12,000
At 31 March 2022 12,000
NET BOOK VALUE
At 31 March 2022 108,000

5. TANGIBLE FIXED ASSETS
Fixtures Computer
& equipment equipment Totals
£    £    £   
COST
Additions 2,480 583 3,063
At 31 March 2022 2,480 583 3,063
DEPRECIATION
Charge for year 620 146 766
At 31 March 2022 620 146 766
NET BOOK VALUE
At 31 March 2022 1,860 437 2,297

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 5,243 -
Other debtors 208 -
Prepayments 207 -
5,658 -

Michael Cuddy Property Limited (Registered number: 12529412)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 5,529 -
Other creditors - 142
Tax 19,511 -
Social security and other taxes 6,972 -
Directors' loan accounts 64,022 -
Accrued expenses 4,161 -
100,195 142

8. RELATED PARTY DISCLOSURES

Mr J M Cuddy transferred his business trading as "Michael Cuddy Chartered Valuation Services" to Michael Cuddy Property Ltd on the 6th April 2021. The Goodwill of the business was valued at £120,000 and has been credited to Mr Cuddy's directors loan account. Furthermore, it has been decided to write this amount off over an estimated useful life of ten years.