REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements For The Year Ended 30 September 2024 |
for |
Cumming Group (FM & Constructor Services |
Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements For The Year Ended 30 September 2024 |
for |
Cumming Group (FM & Constructor Services |
Limited |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Contents of the Financial Statements |
For The Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Statement of Comprehensive Income | 8 |
Statement of Financial Position | 9 |
Statement of Changes in Equity | 10 |
Statement of Cash Flows | 11 |
Notes to the Statement of Cash Flows | 12 |
Notes to the Financial Statements | 13 |
Cumming Group (FM & Constructor Services |
Limited |
Company Information |
For The Year Ended 30 September 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Strategic Report |
For The Year Ended 30 September 2024 |
The directors present their strategic report for the year ended 30 September 2024. |
REVIEW OF BUSINESS |
The financial results for the year ended 30th September 2024 reflected the continued growth and development of the company, with strong trading in the year. Overall, the business has continued its growth trajectory by maintaining key relationships with key clients, whilst also actively seeking new development and growth opportunities in its core operating areas. |
The business continues to predominantly operate in its core market of Quantity Surveying Consultancy, focussing on Government Sector projects, for Tier 1 Contractors. In addition to QS Consultancy there is a focus on continuing to grow Programme and Project Management services. |
We continue to see growth within the team and have again increased our trainee intake, providing resource resilience for the future. |
The outlook for the next financial year is positive and the Directors are satisfied that the performance of the business will continue on a positive trajectory, underpinned by the management team in place. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have taken steps to ensure that day to day risks are managed comprehensively by the company by ensuring it has appropriate contracts in place which are further supported by appropriate insurance cover. |
Management reports are prepared on a monthly basis; these reports are used to inform the Board on the financial and trading performance of the company and facilitate cash management. Primarily, the business is exposed to the following risks and uncertainties: |
Liquidity risk |
The company aims to mitigate risk by managing cash generated by its operations. |
Credit risk |
The company has implemented a policy that requires credit checks on potential customers, where sales will be made on credit, before the transaction takes place. The amount of exposure to any individual counterparty is subject to limit which is regularly assessed by the directors. |
Market and competition risk |
The directors continue to evaluate our clients and markets that we operate in to ensure the success of the business. We continue to focus on recession resilient sectors and strong Tier 1 contractors to mitigate risk.The Directors remain confident that the business can maximise the opportunities that present themselves in the next twelve months and provide a strong financial performance over this period. |
FINANCIAL KEY PERFORMANCE INDICATORS |
The directors have identified the following key financial performance indicators: |
2024 | 2023 |
Turnover | £12,999,717 | £11,412,284 |
Net Profit % | 11.3% | 1.8% |
Net Assets | £2,220,683 | £1,139,086 |
ON BEHALF OF THE BOARD: |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Report of the Directors |
For The Year Ended 30 September 2024 |
The directors present their report with the financial statements of the company for the year ended 30 September 2024. |
CHANGE OF NAME |
The company passed a special resolution on 18 June 2025 changing its name from |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of Quantity Surveying |
DIVIDENDS |
No dividends will be distributed for the year ended 30 September 2024. |
DIRECTORS |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Cumming Group (FM & Constructor Services |
Limited |
previously known as Close UK Limited |
Opinion |
We have audited the financial statements of Cumming Group (FM & Constructor Services Limited (the 'company') for the year ended 30 September 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
The financial statements for the company for the year ended 30th September 2023 were not audited. Accordingly, we do not express an opinion on the comparative information. During the course of the audit of the year ended 30th September 2024, sufficient appropriate audit evidence was obtained that the opening balances do not contain misstatement that materially affect the current period's financial statements. |
Report of the Independent Auditors to the Members of |
Cumming Group (FM & Constructor Services |
Limited |
previously known as Close UK Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Cumming Group (FM & Constructor Services |
Limited |
previously known as Close UK Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our wider knowledge and experience; |
- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and FRS 102. |
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and |
- Considering the internal controls in place, including banking controls, to mitigate risks of fraud and non-compliance with laws and regulations |
Audit response to risks identified |
To address the risk of fraud through management bias and override of controls, we: |
- Performed analytical procedures to identify any unusual or unexpected relationships; |
- Tested journal entries to identify unusual transactions; |
- Assessed whether judgements and assumptions made in determining the accounting estimates set out were indicative of potential bias; and |
- Investigated the rationale behind significant or unusual transactions. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- Agreeing financial statement disclosures to underlying supporting documentation; |
- Reading the minutes of meetings of those charged with governance; |
- Enquiring of management as to actual and potential litigation and claims; and |
- Reviewing correspondence with HMRC, Companies House and the company's legal advisors. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Cumming Group (FM & Constructor Services |
Limited |
previously known as Close UK Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Statement of Comprehensive |
Income |
For The Year Ended 30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
1,456,059 | 198,705 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
1,464,700 | 202,736 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Statement of Financial Position |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Capital redemption reserve | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Statement of Changes in Equity |
For The Year Ended 30 September 2024 |
Called up | Capital |
share | Retained | redemption | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1 October 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 September 2023 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 September 2024 |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Statement of Cash Flows |
For The Year Ended 30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of fixed asset investments |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Loan repayments in year | ( |
) |
Amount withdrawn by directors | (43,063 | ) | (35,000 | ) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
2 |
291,043 |
Cash and cash equivalents at end of year | 2 | 1,129,604 | 362,387 |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Statement of Cash Flows |
For The Year Ended 30 September 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Depreciation charges |
Finance costs | - | 1,816 |
Finance income | (8,641 | ) | (2,531 | ) |
1,494,806 | 227,497 |
Increase in trade and other debtors | ( |
) | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 30 September 2024 |
30.9.24 | 1.10.23 |
£ | £ |
Cash and cash equivalents | 1,129,604 | 362,387 |
Year ended 30 September 2023 |
30.9.23 | 1.10.22 |
£ | £ |
Cash and cash equivalents | 362,387 | 291,043 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.10.23 | Cash flow | At 30.9.24 |
£ | £ | £ |
Net cash |
Cash at bank | 362,387 | 767,217 | 1,129,604 |
362,387 | 1,129,604 |
Total | 362,387 | 767,217 | 1,129,604 |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Financial Statements |
For The Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Cumming Group (FM & Constructor Services Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixed plant and equipment | - |
Financial instruments |
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. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Directors | 4 | 4 |
Surveyors | 80 | 75 |
Admin Support | 4 | 4 |
Commercial Advisors | 7 | 7 |
IT | 2 | 2 |
2024 | 2023 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Hire of plant and machinery |
Depreciation - owned assets |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Bank loan interest |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2024 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Total tax charge | 383,103 | 44,134 |
7. | PRIOR PERIOD RECLASSIFICATION |
In FY23, a balance of £987,273 in respect of work performed but not yet invoiced was reported within Stock on the Statement of Financial Position. This has been reclassified in the comparative and current year and reported as accrued income. |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2024 |
8. | TANGIBLE FIXED ASSETS |
Fixed |
plant and |
equipment |
£ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Accrued income |
Other debtors | - | 52,000 |
Directors' current accounts | 78,063 | 35,000 |
Prepayments |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 473,655 | 359,187 |
Accrued expenses |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
Cumming Group (FM & Constructor Services |
Limited (Registered number: 06302566) |
Notes to the Financial Statements - continued |
For The Year Ended 30 September 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 180 | 180 |
13. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1 October 2023 | 1,138,906 |
Profit for the year |
At 30 September 2024 | 2,220,503 |
14. | RELATED PARTY DISCLOSURES |
During the year, the company paid a total of £2,138,049 (2023: £2,745,121) to companies owned by previous Directors of the company for sub-consultancy work. |
The company also paid a total of £217,500 (2023: £216,000) to a company owned by the previous Directors of the company for rental of the company's office space. |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party of Cumming Group (FM & Constructor Services) Limited at 30 September 2024 were the former directors and shareholders. At the date of signing the financial statements, the ultimate controlling party is Chartwell Parent Inc, a company registered in the US. Its registered office is c/o New Mountain Capital LLC, 1633 Broadway, 48th Floor, New York, NY10019. |