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REGISTERED NUMBER: 07851864 (England and Wales)














Unaudited Financial Statements

for the Period 1 January 2023 to 31 March 2024

for

CUMMINS & JENNINGS LTD

CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Contents of the Financial Statements
for the period 1 January 2023 to 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CUMMINS & JENNINGS LTD

Company Information
for the period 1 January 2023 to 31 March 2024







Directors: Mr S Cummins
Mrs J Cummins





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 07851864 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Statement of Financial Position
31 March 2024

2024 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 6,304 7,917
6,304 7,917

Current assets
Stocks 6 456,847 721,978
Debtors 7 70,029 89,740
Cash at bank and in hand 700,228 409,621
1,227,104 1,221,339
Creditors
Amounts falling due within one year 8 411,600 458,327
Net current assets 815,504 763,012
Total assets less current liabilities 821,808 770,929

Provisions for liabilities 9 1,198 1,504
Net assets 820,610 769,425

Capital and reserves
Called up share capital 10 1 1
Retained earnings 820,609 769,424
820,610 769,425

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Statement of Financial Position - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by:




Mr S Cummins - Director



Mrs J Cummins - Director


CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Notes to the Financial Statements
for the period 1 January 2023 to 31 March 2024


1. Statutory information

Cummins & Jennings 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.

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 2012, is being amortised evenly over its estimated useful life of ten years.

The purchased goodwill is considered to consist of a number of intangible assets which could not be reliably measured individually, such as methodology, working practices and industry reputation. At acquisition the directors reasonably expect to derive benefit from this goodwill for a minimum of 10 years.

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

During the period ended 31 December 2016 the company won a van in a supplier prize draw. This van has been recorded in the company's fixed asset register at nil cost. The directors consider the value of the van when received to be £12,000.

The van remains in ownership at the year end.

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 31 March 2024


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. Employees and directors

The average number of employees during the period was 4 (2022 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 March 2024 20,000
Amortisation
At 1 January 2023
and 31 March 2024 20,000
Net book value
At 31 March 2024 -
At 31 December 2022 -

CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 31 March 2024


5. Tangible fixed assets
Fixtures,
fittings
& equipment
£   
Cost
At 1 January 2023 31,713
Additions 1,253
At 31 March 2024 32,966
Depreciation
At 1 January 2023 23,796
Charge for period 2,866
At 31 March 2024 26,662
Net book value
At 31 March 2024 6,304
At 31 December 2022 7,917

6. Stocks
2024 2022
£    £   
Finished goods 456,847 721,978

7. Debtors: amounts falling due within one year
2024 2022
£    £   
Trade debtors 70,029 89,740

8. Creditors: amounts falling due within one year
2024 2022
£    £   
Trade creditors 94,609 163,306
Taxation and social security 48,067 33,847
Other creditors 268,924 261,174
411,600 458,327

9. Provisions for liabilities
2024 2022
£    £   
Deferred tax 1,198 1,504

Deferred
tax
£   
Balance at 1 January 2023 1,504
Provided during period (306 )
Balance at 31 March 2024 1,198

CUMMINS & JENNINGS LTD (REGISTERED NUMBER: 07851864)

Notes to the Financial Statements - continued
for the period 1 January 2023 to 31 March 2024


10. Called up share capital

At the end of the financial year the following share classes are in place:

Number: Class: Nominal 2024 2022
value: £ £
1 Ordinary £1.00
20 Ordinary £0.01 0.20 0.20
40 A Shares £0.01 0.40 0.40
40 B Shares £0.01 0.40 0.40
1 1

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the period ended 31 March 2024 and the year ended 31 December 2022:

2024 2022
£    £   
Mr S Cummins
Balance outstanding at start of period (129,494 ) (136,697 )
Amounts repaid 108 7,203
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (129,386 ) (129,494 )

Mrs J Cummins
Balance outstanding at start of period (108,838 ) (117,110 )
Amounts repaid 1,234 8,272
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (107,604 ) (108,838 )