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REGISTERED NUMBER: 02288666 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CUMBRIA BUSINESS GROUP LTD

CUMBRIA BUSINESS GROUP LTD (REGISTERED NUMBER: 02288666)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


CUMBRIA BUSINESS GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R J L Guselli
Mrs A C Guselli
Miss M A Guselli



SECRETARIES: Mr R J L Guselli
Mr D J Thomas



REGISTERED OFFICE: 4 West Avenue
Barrow in Furness
Cumbria
LA13 9AX



REGISTERED NUMBER: 02288666 (England and Wales)



BANKERS: Barclays Bank plc
Leicestershire
LE87 2BB

CUMBRIA BUSINESS GROUP LTD (REGISTERED NUMBER: 02288666)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,236,500 1,236,500

CURRENT ASSETS
Cash at bank and in hand 895,602 814,981

CREDITORS
Amounts falling due within one year 52,527 34,499
NET CURRENT ASSETS 843,075 780,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,079,575

2,016,982

CAPITAL AND RESERVES
Called up share capital 5 2 2
Revaluation reserve 766,067 766,067
Retained earnings 1,313,506 1,250,913
SHAREHOLDERS' FUNDS 2,079,575 2,016,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mr R J L Guselli - Director


CUMBRIA BUSINESS GROUP LTD (REGISTERED NUMBER: 02288666)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Cumbria Business Group Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

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.

Investment properties
All of the company's properties are held for long-term investment and are included in the Balance Sheet at open market value. The surpluses or deficits on revaluation of freehold properties are transferred to the investment property revaluation reserve which is a departure from Financial Reporting Standard 102.

Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 and the Companies Act 2006. Depreciation if provided would not have been of a material nature.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 1,236,500
NET BOOK VALUE
At 31 March 2024 1,236,500
At 31 March 2023 1,236,500

All of the company's properties are held for long-term investment and are included in the Balance Sheet at open market value. The surpluses or deficits on revaluation of freehold properties are transferred to the investment property revaluation reserve which is a departure from Financial Reporting Standard 102.

Depreciation is not provided in respect of investment properties which is a departure from Financial Reporting Standard 102 and the Companies Act 2006. Depreciation if provided would not have been of a material nature.

CUMBRIA BUSINESS GROUP LTD (REGISTERED NUMBER: 02288666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2005 687,764
Cost 548,736
1,236,500

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 548,736 548,736

Investment properties were valued on an open market basis on 31 March 2005 by Harrison Willis & Moore .

The open market basis revaluation is subject to tenancies.

5. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Share capital 1 £1 2 2

6. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr R J L Guselli throughout the current and previous year. Mr R J L Guselli is the managing director and in association with his wife a 50% shareholder.