Company Registration No. 14226873 (England and Wales)
Cunningham-Weir Limited
Unaudited accounts
for the year ended 31 July 2024
Cunningham-Weir Limited
Statement of financial position
as at 31 July 2024
Investment property
534,000
521,000
Cash at bank and in hand
12,846
5,443
Creditors: amounts falling due within one year
(133,890)
(127,028)
Net current liabilities
(120,273)
(121,009)
Total assets less current liabilities
413,727
399,991
Creditors: amounts falling due after more than one year
(313,427)
(313,427)
Provisions for liabilities
Deferred tax
(21,793)
(19,323)
Called up share capital
1
1
Revaluation reserve
78,274
67,744
Profit and loss account
232
(504)
Shareholders' funds
78,507
67,241
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 April 2025 and were signed on its behalf by
A Weir
Director
Company Registration No. 14226873
Cunningham-Weir Limited
Notes to the Accounts
for the year ended 31 July 2024
Cunningham-Weir Limited is a private company, limited by shares, registered in England and Wales, registration number 14226873. The registered office is 30 Leigh Hill, Leigh on Sea, Essex, SS9 2DN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Fair value at 1 August 2023
521,000
Net gain from fair value adjustments
13,000
Properties have revalued by the director based upon current market prices of similar properties.
Cunningham-Weir Limited
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
171
-
Other creditors
2,549
2,878
Loans from directors
131,170
124,150
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
313,427
313,427
Aggregate of amounts that fall due for payment after five years
313,427
313,427
The bank loans are secured by way of fixed charges over the properties to which they relate.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).