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REGISTERED NUMBER: 09126943 (England and Wales)









CMW PROPERTY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CMW PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: C Whitaker





REGISTERED OFFICE: 27 Mutley Plain
Plymouth
Devon
PL4 6JG





REGISTERED NUMBER: 09126943 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 19,042 22,653
19,042 22,653

CURRENT ASSETS
Debtors 7 807,361 755,917
Investments 8 306,603 179,343
Cash at bank and in hand 58,760 58,863
1,172,724 994,123
CREDITORS
Amounts falling due within one year 9 479,721 232,177
NET CURRENT ASSETS 693,003 761,946
TOTAL ASSETS LESS CURRENT LIABILITIES 712,045 784,599

CREDITORS
Amounts falling due after more than one year 10 (150,000 ) (222,000 )

PROVISIONS FOR LIABILITIES (400 ) (1,000 )
NET ASSETS 561,645 561,599

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 561,545 561,499
561,645 561,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2024 and were signed by:




C Whitaker - Director


CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

CMW Property Services Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services relating to property management. Where income has been received but the service has not yet been provided, the income is deferred on the Balance Sheet.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets relate to franchise costs. These are amortised over the life of the agreement, being 5 years.

Tangible fixed assets
Depreciation is provided on all fixed assets, which comprise fixtures and fittings and motor vehicles, at either 20% straight line, 20% reducing balance or 33% straight line, dependant on the useful expected life of the asset.

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.


CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Debtors
Debtors comprise simple current financial instruments only, and are carried in the accounts at transaction price less impairment, which is considered to be approximate to fair value.

Creditors
Creditors comprise simple financial instruments only. Current liabilities are carried in the accounts at transaction price, which is considered to approximate to fair value. Bank loans and other similar financial liabilities are measured initially at fair value net of transaction cost, and are subsequently measured at amortised cost, using the effective interest rate method.

Current asset investments
Current asset investments represent listed investments held. These are recorded at purchase cost and adjusted at year end for any increase or decrease in fair value through the profit and loss account.

Movements in value are treated as unrealised until the relevant asset has been disposed of, at which point any gain is then treated as realised and taxed.

Provisions
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 15 ) .

CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 18,500
AMORTISATION
At 1 July 2022
and 30 June 2023 18,500
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2022 33,511 18,537 52,048
Additions 911 - 911
At 30 June 2023 34,422 18,537 52,959
DEPRECIATION
At 1 July 2022 28,101 1,294 29,395
Charge for year 1,674 2,848 4,522
At 30 June 2023 29,775 4,142 33,917
NET BOOK VALUE
At 30 June 2023 4,647 14,395 19,042
At 30 June 2022 5,410 17,243 22,653

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 790,921 731,244
Other debtors 16,440 24,673
807,361 755,917

8. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 306,603 179,343

CMW PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 09126943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 72,000 72,000
Trade creditors 19,343 17,082
Amounts owed to group undertakings - 38,266
Taxation and social security 70,960 48,702
Other creditors 317,418 56,127
479,721 232,177

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 150,000 222,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 222,000 294,000

The bank loan is secured by way of a fixed and floating charge over all the assets and undertakings of the company.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Whitaker Holdings Limited, which holds 100% of the issued share capital of the company, and the ultimate controlling party is Mr Chris Whitaker.