J & K Cunningham Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

(Registration number: 12325738)
Statement of Financial Position as at 30 November 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Investment property	4	558,204	558,204
Current assets
Debtors	5	22,250	16,275
Cash at bank and in hand		269,841	47,913
		292,091	64,188
Creditors: Amounts falling due within one year	6	(833,191)	(620,220)
Net current liabilities		(541,100)	(556,032)
Net assets		17,104	2,172
Capital and reserves
Called up share capital		100	100
Profit and loss account		17,004	2,072
Shareholders' funds		17,104	2,172

For the financial year ending 30 November 2025 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 19 June 2026 and signed on its behalf by:

Mr J C Cunningham
Director

J & K Cunningham Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
80 Oxford Street
Burnham on Sea
Somerset
TA8 1EF
England and Wales

Principal activity

The principal activity of the company is the letting of residential properties

2	Accounting policies

Statement of compliance

These 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 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 financial statements are prepared in sterling which is the functional currency of the entity.

Reclassification of comparative amounts

On incorporation, a loan to Band Films Limited was included in other debtors and the directors loan account.

In 2023, the other debtor balance was written off to the profit and loss account as it was considered to be irrecoverable.

As Band Films Limited was insolvent at the date of assignment, the loan should have been included at nil value.

Therefore, a prior year adjustment to remove the balance from the directors loan account has been made.

The opening balance of retained earnings at 1 December 2025 has been reduced by £325,929 to reflect the cumulative effect of the error on periods prior to 2025.

J & K Cunningham Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

2	Accounting policies (continued)

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 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 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. The directors consider the valuation to be correct.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Investment properties

	2025 £
At 1 December	558,204
At 30 November	558,204

In the absence of an independent professional valuation in the current year, the directors have assessed the fair value based on the recent market transactions for similar properties in the same location and local knowledge. The valuation represents the directors' best estimate of the open market value.

J & K Cunningham Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

4	Investment properties (continued)

There has been no valuation of investment property by an independent valuer.

5

Debtors

	2025 £	2024 £
Trade debtors	21,800	16,275
Prepayments	450	-
	22,250	16,275

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	(As restated) 2024 £
Due within one year
Loans and borrowings		832,290	619,390
Trade creditors		8	-
Accruals and deferred income		893	830
		833,191	620,220

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Directors' advances, credits and guarantees

2025	At 1 December 2024 £	Repayments by director £	At 30 November 2025 £
Mrs K T Cunningham
Directors	(619,390)	(212,900)	(832,290)

J & K Cunningham Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025 (continued)

8	Directors' advances, credits and guarantees (continued)

2024	At 1 December 2023 £	Repayments by director £	At 30 November 2024 £
Mrs K T Cunningham
Directors	(619,122)	(268)	(619,390)

The loan is interest free and repayable on demand