REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
R.P. CUNNINGHAM & CO LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
R.P. CUNNINGHAM & CO LIMITED |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
R.P. CUNNINGHAM & CO LIMITED |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Balance Sheet - continued |
31 March 2023 |
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 |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
R.P. Cunningham & Co Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
The investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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 material 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. |
4. | EMPLOYEES |
The average number of employees during the year was NIL (2022 - NIL). |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | 15,000 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
The investment property was revalued on an open market basis on 31 March 2023 by the director; this valuation is considered to be materially accurate. |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2016 | 87,077 |
Valuation in 2021 | 30,000 |
Valuation in 2023 | 15,000 |
Cost | 182,923 |
315,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | 1 | 2 | 2 |
R.P. CUNNINGHAM & CO LIMITED (REGISTERED NUMBER: 01378996) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2022 |
Transfer to fair value reserve | 8,627 |
At 31 March 2023 |
The fair value reserve reflects the cumulative gain on revaluation of investment properties, less the deferred tax provision for the gain on disposal. The fair value movement on the investment property is recognised in the profit and loss account and then transferred to the non-distributable fair value reserve. |
10. | RELATED PARTY DISCLOSURES |
At the year end date the company owed the director £166,001 (2022: £140,866). The loan is interest free and repayable on demand. |