REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
CUMBRIA BUSINESS GROUP LTD |
REGISTERED NUMBER: |
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: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
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 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents received, excluding VAT. |
Tangible fixed assets |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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: | £ | £ |
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. |