Company registration number 02317941 (England and Wales)
17 CUMBERLAND AVENUE MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
17 CUMBERLAND AVENUE MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
17 CUMBERLAND AVENUE MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
30 OCTOBER 2024
30 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
11,695
28,275
Cash at bank and in hand
140,471
136,462
152,166
164,737
Creditors: amounts falling due within one year
4
(11,135)
(12,477)
Net current assets
141,031
152,260
Capital and reserves
Called up share capital
34
34
Sinking fund reserves
123,562
145,130
Profit and loss reserves
5
17,435
7,096
Total equity
141,031
152,260
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 July 2025 and are signed on its behalf by:
Mr S Smith
Dr K Thapan
Director
Director
Company registration number 02317941 (England and Wales)
17 CUMBERLAND AVENUE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
17 Cumberland Avenue Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is HMR Offices Cumberland and Business Park, 17 Cumberland Avenue, London, UK, NW10 7RT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents service charges collected from leaseholders.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Taxation
Current tax
The company is not liable to corporation tax as it is a mutual trading company.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
17 CUMBERLAND AVENUE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,695
27,909
Other debtors
366
11,695
28,275
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,481
4,937
Corporation tax
18
290
Other taxation and social security
4,034
5,183
Other creditors
2,602
2,067
11,135
12,477
5
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
7,096
26,145
Adjusted balance
7,096
26,145
Loss for the year
(11,229)
(8,788)
Transfer to reserves
21,568
(10,261)
At the end of the year
17,435
7,096