Company No: 11440759 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Thomas Edward Cunningham
	Matt Taylor

REGISTERED OFFICE	12 Flexbury Park Road
	Bude
	EX23 8HR
	England
	United Kingdom

COMPANY NUMBER

11440759 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Lowin House
	Tregolls Road
	Truro
	Cornwall TR1 2NA

	Note	2021		2020
		£		£
Fixed assets
Intangible assets	5	42,400		63,600
Tangible assets	6	2,629		1,181
		45,029		64,781
Current assets
Debtors	7	257,156		279,515
Cash at bank and in hand	8	127,284		199,473
		384,440		478,988
Creditors
Amounts falling due within one year	9	( 350,718)		( 123,184)
Net current assets		33,722		355,804
Total assets less current liabilities		78,751		420,585
Net assets		78,751		420,585
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		78,651		420,485
Total shareholders' funds		78,751		420,585

For the financial year ending 30 June 2021 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 financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Cunningham Taylor Limited (registered number: 11440759) were approved and authorised for issue by the Board of Directors on 15 February 2022. They were signed on its behalf by:

Thomas Edward Cunningham Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.

General information and basis of accounting

Cunningham Taylor Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12 Flexbury Park Road, Bude, EX23 8HR, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The functional currency of Cunningham Taylor Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets

Goodwill

Goodwill arising on the acquisition of subsidiary undertakings and business, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life, which is 5 years. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, basis over its expected useful life, as follows:

Office equipment at 33%

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

4. Dividends on equity shares

5. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 July 2020	106,000		106,000
At 30 June 2021	106,000		106,000
Accumulated amortisation
At 01 July 2020	42,400		42,400
Charge for the financial year	21,200		21,200
At 30 June 2021	63,600		63,600
Net book value
At 30 June 2021	42,400		42,400
At 30 June 2020	63,600		63,600

6. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 July 2020	2,452		2,452
Additions	2,311		2,311
At 30 June 2021	4,763		4,763
Accumulated depreciation
At 01 July 2020	1,271		1,271
Charge for the financial year	863		863
At 30 June 2021	2,134		2,134
Net book value
At 30 June 2021	2,629		2,629
At 30 June 2020	1,181		1,181

7. Debtors

	2021		2020
	£		£
Trade debtors	253,099		130,359
Corporation tax	2,895		2,895
Other debtors	1,162		146,261
	257,156		279,515

8. Cash and cash equivalents

	2021		2020
	£		£
Cash at bank and in hand	127,284		199,473

9. Creditors: amounts falling due within one year

	2021		2020
	£		£
Trade creditors	397		0
Other creditors	245,370		18,400
Corporation tax	87,516		83,871
Other taxation and social security	17,435		20,913
	350,718		123,184

10. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

11. Related party transactions

Transactions with the entity's directors

	2021		2020
	£		£
Interest free loan to Mr M Taylor at year end	0		95,079
Interest free loan to Mr T E Cunningham at year end	0		50,230

Advances

Advances were made to Mr M Taylor for the financial year ended 30 June 2021 for £23,000. With the conditions, it is an interest-free loan repayable on demand. £118,079 has been repaid within the year.

Advances were made to Mr T E Cunningham for the financial year ended 30 June 2021 for £18,000. With the conditions, it is an interest-free loan repayable on demand. £68,230 has been repaid within the year.

The total liability incurred under advances is £91,230 and the total amount repaid is £186,309.