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Cummings & Young Ltd

Unaudited Financial Statements for the Year Ended 30 September 2024






Cummings & Young Ltd (Registered number: 04795872)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cummings & Young Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: K Young
J D Cummings





SECRETARY: K Young





REGISTERED OFFICE: Unit 4 Hurricane Drive
Hurricane Business Park
Liverpool
Merseyside
L24 8RL





REGISTERED NUMBER: 04795872 (England and Wales)





ACCOUNTANTS: Sue Matthews & Co Ltd
Chartered Accountants
Unit 4 Hurricane Drive
Hurricane Business Park
Liverpool
Merseyside
L24 8RL

Cummings & Young Ltd (Registered number: 04795872)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,030,737 980,737
Investments 5 2 2
1,030,739 980,739

CURRENT ASSETS
Cash at bank 11,443 7,012

CREDITORS
Amounts falling due within one year 6 293,983 293,723
NET CURRENT LIABILITIES (282,540 ) (286,711 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

748,199

694,028

CREDITORS
Amounts falling due after more than one
year

7

563,500

563,500
NET ASSETS 184,699 130,528

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 181,160 131,160
Retained earnings 3,439 (732 )
SHAREHOLDERS' FUNDS 184,699 130,528

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





K Young - Director


Cummings & Young Ltd (Registered number: 04795872)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Cummings & Young 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.

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.

Tangible fixed assets
Freehold and long leasehold buildings held for investment are not depreciated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 980,737 8,800 989,537
Revaluations 50,000 - 50,000
At 30 September 2024 1,030,737 8,800 1,039,537
DEPRECIATION
At 1 October 2023
and 30 September 2024 - 8,800 8,800
NET BOOK VALUE
At 30 September 2024 1,030,737 - 1,030,737
At 30 September 2023 980,737 - 980,737

Cost or valuation at 30 September 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2021 131,160 - 131,160
Valuation in 2024 50,000 - 50,000
Cost 849,577 8,800 858,377
1,030,737 8,800 1,039,537

Cummings & Young Ltd (Registered number: 04795872)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 2
NET BOOK VALUE
At 30 September 2024 2
At 30 September 2023 2

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 292,627 292,277
Other creditors 1,356 1,446
293,983 293,723

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 563,500 563,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 563,500 563,500

The company's bank loans are repayable on demand and secured on the investment properties.

9. RESERVES
Revaluation
reserve
£   
At 1 October 2023 131,160
Property 50,000

At 30 September 2024 181,160