Registration number:
Cumberland House Freehold Limited
for the Year Ended 31 May 2024
Cumberland House Freehold Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Cumberland House Freehold Limited
Company Information
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Directors |
O K Godyn J Imshan V S Marshall S E M Ringdal |
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Company secretary |
Westbourne Block Management Limited |
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Registered office |
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Accountants |
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Cumberland House Freehold Limited
(Registration number: 04763058)
Statement of Financial Position as at 31 May 2024
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Note |
2024 |
2023 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Total equity |
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For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
The financial statements of Cumberland House Freehold Limited were approved and authorised for issue by the
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Director
Cumberland House Freehold Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024
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General information |
Cumberland House Freehold Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
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.
Going concern
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These 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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Revenue recognition
Turnover comprises ground rents receivable and is recognised in the period in which it is due.
Taxation
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.
Property, plant and equipment
Property, plant and equipment comprises the freehold land and building at Cumberland House, Clifton Gardens, London, W9 1DX.
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:
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Asset class |
Depreciation method and rate |
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Freehold land and building |
Nil |
Cumberland House Freehold Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)
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2 |
Accounting policies (continued) |
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.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Taxation |
Tax charged/(credited) in the income statement
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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Cumberland House Freehold Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)
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Property, plant and equipment |
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Freehold land and buildings |
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Cost |
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At 1 June 2023 |
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Disposals |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Receivables |
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2024 |
2023 |
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Trade receivables |
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Other receivables |
- |
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Cash and cash equivalents |
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2024 |
2023 |
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Cash at bank |
48,879 |
3,305 |
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Payables |
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Note |
2024 |
2023 |
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Due within one year |
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Corporation tax |
2,332 |
945 |
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Other payables |
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- |
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Accruals & deferred income |
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Cumberland House Freehold Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)
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Share capital and reserves |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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12 |
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12 |
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34,556 |
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34,556 |
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The company has two classes of share capital, neither of which carries any right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.