Registration number:
BEVERLEY CUMMIN LETTINGS LIMITED
for the Year Ended 31 December 2024
BEVERLEY CUMMIN LETTINGS LIMITED
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Abridged Profit and Loss Account |
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Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Abridged Financial Statements |
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Detailed Profit and Loss Account |
BEVERLEY CUMMIN LETTINGS LIMITED
Company Information
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Director |
Ms B C Cummin |
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Registered office |
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Accountants |
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BEVERLEY CUMMIN LETTINGS LIMITED
Director's Report for the Year Ended 31 December 2024
The director presents her report and the abridged financial statements for the year ended 31 December 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is management of real estate on a fee or contract basis.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
BEVERLEY CUMMIN LETTINGS LIMITED
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BEVERLEY CUMMIN LETTINGS LIMITED for the year ended 31 December 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of BEVERLEY CUMMIN LETTINGS LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of BEVERLEY CUMMIN LETTINGS LIMITED and state those matters that we have agreed to state to the Board of Directors of BEVERLEY CUMMIN LETTINGS LIMITED, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BEVERLEY CUMMIN LETTINGS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BEVERLEY CUMMIN LETTINGS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BEVERLEY CUMMIN LETTINGS LIMITED. You consider that BEVERLEY CUMMIN LETTINGS LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of BEVERLEY CUMMIN LETTINGS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Barnet
Herts
EN4 0NR
BEVERLEY CUMMIN LETTINGS LIMITED
Abridged Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Gross profit |
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Administrative expenses |
( |
( |
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Other interest receivable and similar income |
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Profit before tax |
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Tax on profit |
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( |
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Profit/(loss) for the financial year |
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( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
BEVERLEY CUMMIN LETTINGS LIMITED
Statement of Comprehensive Income for the Year Ended 31 December 2024
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2024 |
2023 |
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Profit/(loss) for the year |
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( |
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Total comprehensive income for the year |
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( |
BEVERLEY CUMMIN LETTINGS LIMITED
(Registration number: 04121197)
Abridged Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
86,124 |
94,522 |
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Shareholders' funds |
86,126 |
94,524 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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BEVERLEY CUMMIN LETTINGS LIMITED
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2023 |
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Loss for the year |
- |
( |
( |
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Dividends |
- |
( |
( |
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At 31 December 2023 |
2 |
94,522 |
94,524 |
BEVERLEY CUMMIN LETTINGS LIMITED
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
The principal place of business is:
2 Hill Close
London
NW11 7JP
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
BEVERLEY CUMMIN LETTINGS LIMITED
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
BEVERLEY CUMMIN LETTINGS LIMITED
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Profit before tax |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Depreciation expense |
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Debtors |
Debtors includes £Nil (2023 - £Nil) due after more than one year.
BEVERLEY CUMMIN LETTINGS LIMITED
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
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Share capital |
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
16,100 |
25,000 |
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Related party transactions |
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Transactions with the director |
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2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
|
Ms B C Cummin |
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Brought forward |
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- |
( |
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Advances |
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- |
- |
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Salary overpaid |
- |
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- |
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Private expenses paid |
- |
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- |
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Rent due for use of home office |
( |
- |
( |
( |
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Interest charged at 2.25% |
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|
- |
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16,758 |
3,201 |
(3,220) |
16,739 |
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2023 |
At 1 January 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
|
Ms B C Cummin |
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Brought forward |
|
- |
- |
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Advances |
- |
|
- |
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Rent due for use of home office |
- |
- |
( |
( |
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Interest charged at 2.25% |
- |
|
- |
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9,515 |
10,123 |
(2,880) |
16,758 |
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BEVERLEY CUMMIN LETTINGS LIMITED
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024
Director's remuneration
The director's remuneration for the year was as follows:
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2024 |
2023 |
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Remuneration |
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Contributions paid to money purchase schemes |
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23,852 |
77,600 |
BEVERLEY CUMMIN LETTINGS LIMITED
Detailed Profit and Loss Account for the Year Ended 31 December 2024
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2024 |
2023 |
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Turnover (analysed below) |
72,171 |
116,751 |
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Cost of sales (analysed below) |
(10,582) |
(1,478) |
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Gross profit |
61,589 |
115,273 |
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Gross profit (%) |
85.34% |
98.73% |
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Administrative expenses |
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Employment costs (analysed below) |
(35,575) |
(91,604) |
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Establishment costs (analysed below) |
(3,610) |
(4,026) |
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General administrative expenses (analysed below) |
(18,715) |
(18,845) |
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Finance charges (analysed below) |
(162) |
(54) |
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Depreciation costs (analysed below) |
(836) |
(1,115) |
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(58,898) |
(115,644) |
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Operating profit/(loss) |
2,691 |
(371) |
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Other interest receivable and similar income (analysed below) |
3,996 |
2,326 |
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Profit before tax |
6,687 |
1,955 |
BEVERLEY CUMMIN LETTINGS LIMITED
Detailed Profit and Loss Account for the Year Ended 31 December 2024
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2024 |
2023 |
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Turnover |
||
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Rendering of services, UK |
72,171 |
116,751 |
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Cost of sales |
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Direct costs |
(729) |
- |
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Commissions payable |
(9,853) |
(1,478) |
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(10,582) |
(1,478) |
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Employment costs |
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Directors remuneration |
(11,352) |
(9,100) |
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Directors NIC (Employers) |
(2,208) |
(1,536) |
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Directors pensions (Defined contribution) |
(12,500) |
(68,500) |
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Private health insurance |
(8,569) |
(12,468) |
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Casual wages |
(946) |
- |
|
(35,575) |
(91,604) |
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Establishment costs |
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Rent |
(285) |
- |
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Insurance |
(445) |
(1,146) |
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Use of home as office |
(2,880) |
(2,880) |
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(3,610) |
(4,026) |
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General administrative expenses |
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Telephone and fax |
(1,249) |
(1,403) |
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Computer software and maintenance costs |
(302) |
(303) |
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Printing, postage and stationery |
(140) |
(124) |
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Courier services |
- |
(500) |
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Charitable donations |
(500) |
(1,340) |
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Sundry expenses |
(35) |
(892) |
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Motor expenses |
(3,149) |
- |
|
Travel and subsistence |
- |
(575) |
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Advertising |
(11,153) |
(7,003) |
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Customer entertaining (disallowable for tax) |
- |
(657) |
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Accountancy fees |
(550) |
(5,300) |
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Professional indemnity insurance |
(187) |
- |
|
Legal and professional fees |
(1,450) |
(748) |
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(18,715) |
(18,845) |
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Finance charges |
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Bank charges |
(162) |
(54) |
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Depreciation costs |
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Depreciation of office equipment (owned) |
(836) |
(1,115) |
BEVERLEY CUMMIN LETTINGS LIMITED
Detailed Profit and Loss Account for the Year Ended 31 December 2024
|
2024 |
2023 |
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Other interest receivable and similar income |
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Bank interest receivable |
3,623 |
2,044 |
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Other interest receivable |
373 |
282 |
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3,996 |
2,326 |