Company registration number 07347258 (England and Wales)
CMA BUILDING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CMA BUILDING SERVICES LIMITED
COMPANY INFORMATION
Directors
M N Yoshinari
B B Grimes
Company number
07347258
Registered office
5 Lonsdale Road
London
NW6 6RA
Accountants
Grunberg & Co Ltd
5 Technology Park
Colindeep Lane
Colindale
London
United Kingdom
NW9 6BX
CMA BUILDING SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
CMA BUILDING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,464,857
1,672,189
Current assets
Debtors
4
3,017,539
2,165,701
Investments
5
435,126
435,126
Cash at bank and in hand
1,461,234
1,072,513
4,913,899
3,673,340
Creditors: amounts falling due within one year
6
(977,256)
(690,525)
Net current assets
3,936,643
2,982,815
Total assets less current liabilities
6,401,500
4,655,004
Creditors: amounts falling due after more than one year
7
(697,818)
(410,652)
Provisions for liabilities
(539,319)
(290,500)
Net assets
5,164,363
3,953,852
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,164,263
3,953,752
Total equity
5,164,363
3,953,852

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CMA BUILDING SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
M N Yoshinari
Director
Company registration number 07347258 (England and Wales)
CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

CMA Building Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Lonsdale Road, London, NW6 6RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The turnover is recognised when the service is delivered.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% and 25% Straight line, 25% Reducing balance
Fixtures and fittings
25% Straight line
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
9
CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
3,912,300
-
0
96,497
4,008,797
Additions
1,174,390
98,857
25,000
1,298,247
Disposals
(56,591)
(1,165)
(6,701)
(64,457)
At 31 March 2024
5,030,099
97,692
114,796
5,242,587
Depreciation and impairment
At 1 April 2023
2,314,547
-
0
22,061
2,336,608
Depreciation charged in the year
467,842
12,967
17,195
498,004
Eliminated in respect of disposals
(56,591)
(291)
-
0
(56,882)
At 31 March 2024
2,725,798
12,676
39,256
2,777,730
Carrying amount
At 31 March 2024
2,304,301
85,016
75,540
2,464,857
At 31 March 2023
1,597,753
-
0
74,436
1,672,189
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,810,330
1,170,099
Other debtors
782,209
782,788
Prepayments and accrued income
425,000
212,814
3,017,539
2,165,701
5
Current asset investments
2024
2023
£
£
Other investments
435,126
435,126
CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
28,000
51,884
Obligations under finance leases
293,533
211,285
Trade creditors
218,657
164,559
Corporation tax
302,898
122,500
Other taxation and social security
23,440
56,519
Other creditors
44,655
83,778
Accruals and deferred income
66,073
-
0
977,256
690,525
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
-
0
28,000
Obligations under finance leases
697,818
382,652
697,818
410,652

The loans above are secured by fixed and floating charges, created on 27 August 2019, over all the assets of the company.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
342,667
419,527
CMA BUILDING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
9
Directors' transactions

The directors' loans were cleared by way of a dividend declared in April 2024.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Advances and credits
2.25
196,095
339,552
5,538
541,185
196,095
339,552
5,538
541,185
2024-03-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.210The principal activity of the company continued to be that of erecting scaffolding and providing building and refurbishment work.
M N YoshinariB B GrimesR W Francisfalsefalse
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