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Registered Number: SC424553
Scotland

 

 

 

CDM GROUP (UK) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Anne Corcoran
James Corcoran
Thomas Mccorrie
Corcoran Ross
Rodman William
Foster Gary
John Gary Foster
Registered Number SC424553
Registered Office PO Box G72 0XB,Unit A2, Block 9a South Avenue, Blantyre
Industrial Estate,
Blantyre,
Scotland
G72 0XB
Accountants Turner Accountancy Limited
101 Park Street

Motherwell
ML1 1PF
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023.
Principal activities
Principal activity of the company during the financial year was of Construction Management.
Directors
The directors who served the company throughout the year were as follows:
Anne Corcoran (from 23/01/2016)
James Corcoran (from 21/03/2019)
Thomas Mccorrie (from 06/04/2021)
Corcoran Ross (from 30/09/2022)
Rodman William (from 19/10/2022)
Foster Gary (from 19/10/2022)
John Gary Foster
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Anne Corcoran
Director

Date approved: 07 March 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Turner Accountancy Limited
30 November 2023



....................................................
Turner Accountancy Limited
101 Park Street

Motherwell
ML1 1PF
07 March 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 168,597    126,858 
168,597    126,858 
Current assets      
Stocks 4 216,500    276,105 
Debtors 5 334,154    222,436 
Cash at bank and in hand 68,633    111,043 
619,287    609,584 
Creditors: amount falling due within one year 6 (434,697)   (423,847)
Net current assets 184,590    185,737 
 
Total assets less current liabilities 353,187    312,595 
Creditors: amount falling due after more than one year 7 (280,288)   (187,007)
Provisions for liabilities 8 (14,504)   (6,448)
Net assets 58,395    119,140 
 

Capital and reserves
     
Called up share capital 100    100 
Share premium account 9 40,000   
Profit and loss account 18,295    119,040 
Shareholders' funds 58,395    119,140 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 March 2024 and were signed on its behalf by:


-------------------------------
Anne Corcoran
Director
4
General Information
CDM GROUP (UK) LIMITED is a private company, limited by shares, registered in Scotland, registration number SC424553, registration address PO Box G72 0XB,Unit A2, Block 9a South Avenue, Blantyre, Industrial Estate, , Blantyre, , Scotland, G72 0XB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 December 2022 27,914    204,482    7,893    5,008    245,297 
Additions 8,049    110,855    1,116    915    120,935 
Disposals   (49,840)       (49,840)
At 30 November 2023 35,963    265,497    9,009    5,923    316,392 
Depreciation
At 01 December 2022 19,093    93,947    4,385    2,556    119,981 
Charge for year 2,531    49,126      1,111    52,768 
On disposals   (24,954)       (24,954)
At 30 November 2023 21,624    118,119    4,385    3,667    147,795 
Net book values
Closing balance as at 30 November 2023 14,339    147,378    4,624    2,256    168,597 
Opening balance as at 01 December 2022 8,821    110,535    5,050    2,452    126,858 


4.

Stocks

2023
£
  2022
£
Work in Progress 191,500    276,105 
Stocks 25,000   
216,500    276,105 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 328,732    178,700 
Prepayments & Accrued Income 6,750    6,750 
Other Debtors (1,328)   36,986 
334,154    222,436 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 147,163    127,900 
Bank Loans & Overdrafts 59,209    54,186 
Corporation Tax 35,617    32,707 
PAYE & Social Security 24,530    21,416 
Accrued Expenses   2,676 
Other Creditor 90,203    90,203 
Obligations under HP/Financial Leases 38,781    22,855 
Directors' Current Accounts 7,700    701 
VAT 31,494    71,203 
434,697    423,847 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 170,212    128,144 
Accrued Expenses 22,865   
Obligations Under HP/Financial Leases 87,211    58,863 
280,288    187,007 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 10,971    7,862 
Pension Provisions 3,533    (1,414)
14,504    6,448 

9.

Share premium account

2023
£
  2022
£
Equity Share Premium - New Issue 40,000   
40,000   

5