MHBC Cumming Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11702057 (England and Wales)

Financial Statements For The Year Ended 31 December 2020

for

MHBC Cumming Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D Hutchison

A Al Jajeh

D A Stuart

J M Cushing

F McLay

REGISTERED OFFICE:

4 St Paul's Churchyard

London

EC1M 4HF

REGISTERED NUMBER:

11702057 (England and Wales)

INDEPENDENT AUDITORS:

Robb Ferguson

Chartered Accountants & Statutory Auditors

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Investments

4

97,185

97,185

CURRENT ASSETS

Debtors

5

18,391

9,387

Cash in hand

1

1

18,392

9,388

CREDITORS

Amounts falling due within one year

6

96,549

97,566

NET CURRENT LIABILITIES

(78,157

)

(88,178

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,028

9,007

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

19,027

9,006

19,028

9,007

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

A Al Jajeh - Director

1.	STATUTORY INFORMATION

MHBC Cumming Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

and 31 December 2020

97,185

NET BOOK VALUE

At 31 December 2020

97,185

At 31 December 2019

97,185

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

18,391

9,387

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

1,096

2,113

Other creditors

95,453

95,453

96,549

97,566

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Janice Alexander (Senior Statutory Auditor)

for and on behalf of Robb Ferguson

8.	POST BALANCE SHEET EVENTS

Since the year end, the company has granted security against it's assets by way of a Debenture in respect of the borrowings of its ultimate parent company, Cumming Management Group Inc.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Tailwind Cumming Holding Corporation, a company registered in the US. Its registered office is 485 Lexington Avenue, 23rd Floor, New York, NY, 10017.