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Registration number: 04763058

Cumberland House Freehold Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Cumberland House Freehold Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cumberland House Freehold Limited

Company Information

Directors

O K Godyn

J Imshan

V S Marshall

S E M Ringdal

Company secretary

Westbourne Block Management Limited

Registered office

Westbourne Block Management
9 Spring Street
London
W2 3RA

Accountants

Service Charge Assurance Limited
Chartered AccountantsSalatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Cumberland House Freehold Limited

(Registration number: 04763058)
Statement of Financial Position as at 31 May 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

5

68,325

87,838

Current assets

 

Receivables

6

50

2,850

Cash at bank and in hand

7

48,879

3,305

 

48,929

6,155

Payables: Amounts falling due within one year

8

(7,735)

(3,474)

Net current assets

 

41,194

2,681

Net assets

 

109,519

90,519

Equity

 

Called up share capital

9

34,568

34,568

Retained earnings

9

74,951

55,951

Total equity

 

109,519

90,519

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of Cumberland House Freehold Limited were approved and authorised for issue by the Board on 23 May 2025 and signed on its behalf by:
 

........................................

S E M Ringdal
Director

 

Cumberland House Freehold Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024

1

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.

2

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:

Asset class

Depreciation method and rate

Freehold land and building

Nil

 

Cumberland House Freehold Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)

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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

2,159

173

 

Cumberland House Freehold Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)

5

Property, plant and equipment

Freehold land and buildings
£

Cost

At 1 June 2023

87,838

Disposals

(19,513)

At 31 May 2024

68,325

Carrying amount

At 31 May 2024

68,325

At 31 May 2023

87,838

6

Receivables

2024
£

2023
£

Trade receivables

50

650

Other receivables

-

2,200

50

2,850

7

Cash and cash equivalents

2024
£

2023
£

Cash at bank

48,879

3,305

8

Payables

Note

2024
£

2023
£

Due within one year

 

Corporation tax

2,332

945

Other payables

 

1,620

-

Accruals & deferred income

 

3,783

2,529

 

7,735

3,474

 

Cumberland House Freehold Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2024 (continued)

9

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary 'A' shares of £1 each

12

12

12

12

Ordinary 'B' shares of £1 each

34,556

34,556

34,556

34,556

34,568

34,568

34,568

34,568

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.