Company Snapshot: Cusp Ltd
CUSP is the Northern Ireland parent company and the joint venture partner in a wide range of businesses dependent on property investment and development.
The group and related companies have significant interests in a number of properties with extensive retail outlets. This includes a 50% holding in Junction One, Culzean Estates, Turnus and Waterside Crescent.
The most recent abbreviated accounts for the joint ventures show that Junction One was carrying a loss of £2.6m on the profit and loss reserves in its balance sheet, similar to the figure a year earlier. For Waterside Crescent the profit and loss reserve at £3.8m was £2m lower than a year earlier. Culzean Estates posted an increase in reserves to £4.2m.
The balance sheet value of shareholders funds increased to £95m in 2009 from £91m in 2008.