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COMPANY REGISTRATION NUMBER: 14872626
Property @ Cumbria Limited
Filleted Unaudited Financial Statements
31 May 2024
Property @ Cumbria Limited
Statement of Financial Position
31 May 2024
31 May 24
Note
£
£
Fixed assets
Tangible assets
5
1,466
Current assets
Debtors
6
49,121
Cash at bank and in hand
217,538
---------
266,659
Creditors: amounts falling due within one year
7
129,539
---------
Net current assets
137,120
---------
Total assets less current liabilities
138,586
---------
Capital and reserves
Called up share capital
10
Profit and loss account
138,576
---------
Shareholders funds
138,586
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 January 2025 , and are signed on behalf of the board by:
Mrs H E Woodhouse
Director
Company registration number: 14872626
Property @ Cumbria Limited
Notes to the Financial Statements
Period from 16 May 2023 to 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31-33 Fisher Street, Carlisle, Cumbria, CA3 8RF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Computer equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 28 .
5. Tangible assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 16 May 2023
Additions
1,067
999
2,066
-------
----
-------
At 31 May 2024
1,067
999
2,066
-------
----
-------
Depreciation
At 16 May 2023
Charge for the period
267
333
600
-------
----
-------
At 31 May 2024
267
333
600
-------
----
-------
Carrying amount
At 31 May 2024
800
666
1,466
-------
----
-------
6. Debtors
31 May 24
£
Trade debtors
49,121
--------
7. Creditors: amounts falling due within one year
31 May 24
£
Trade creditors
19,344
Corporation tax
44,108
Social security and other taxes
39,837
Other creditors
26,250
---------
129,539
---------
8. Related party transactions
The company was under the control of Mrs H E Woodhouse throughout the current period. Mrs Woodhouse is the sole director and shareholder. On the balance sheet date the company owed Mrs Woodhouse £ 26,250 and this is included in Other Creditors.